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Cork house prices up sharply in latest Daft.ie report

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House prices in Cork, city and county, have increased by more than 9% since last year according to the latest Daft.ie sales report.

House prices in Cork, city and county, have increased by more than 9% since last year according to the latest Daft.ie sales report.

House prices in Cork, city and county, have increased by more than 9% since last year according to the latest Daft.ie sales report.

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House prices in Cork, both in the city and across the ounty, rose by more than 9% on this time last year, according to to the latest report by a leading house sales and rentals website.

In the Daft.ie quarterly report, it was indicated that house prices in Cork city were up by 9% compared to those of a year ago. While this is a sharp rise in itself, the increase in the previous year was 14% so the rate of house price increases appears to be slowing down. 

The average price of a home is now €331,000, 102% above its lowest point. In the rest of Cork, prices in the second quarter of 2022 were 9% higher than a year previously, compared to a rise of 16% seen a year ago. The average price of a home is now €278,000, 94% above its lowest point.

National housing prices rose by 3.8% on average between March and June, the largest three-month gain in nearly two years, according to the latest sales report released this week by Ireland’s largest property website, daft.ie.

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The average listed price nationwide in the second quarter of 2022 was €311,874, up 9.5% on the same period in 2021 and just 16% below the Celtic Tiger peak.

The rural-urban gap in housing inflation continues to narrow, although rural areas are still seeing the largest increases. Outside the cities, prices rose by 11.4% in the year to June, down from a peak rate of inflation of 16.8% a year ago.

In Dublin, the year-on-year change in prices was 6.6%, compared to just 3.4% at the end of 2021. The other cities have seen larger increases in prices in the same period, however: in Cork, prices were 9.4% higher than a year previously, while in Limerick city, prices were up 11.1%. The biggest increases in urban housing prices were in Galway (13%) and Waterford cities (13.5%).

The number of homes available to buy on June 1st stood at just over 12,400, up from an all-time low of just 10,000 three months earlier. There are now slightly more homes available to buy in Ireland than a year ago, the first time since mid-2019 that this has been the case. As in 2019, improved availability is being driven by Dublin (where stock for sale is up 4.5% year-on-year) and the rest of Leinster (where it is up 10.8%).

In Co. Cork, the number of houses for sale is 1,912 in total as of this week.  If it’s rental property you’re looking for, there are only 68 properties available.

The preliminary results from the Census taken in April were release last week and revealed there were more than 16,000 vacant properties in County Cork as of the beginning of April. 


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