House and apartment prices continue to fall
HOUSE AND apartment prices are continuing to fall, according to two national house price surveys just published.
The Daft first quarter 2014 report shows the asking price for houses and apartments has fallen by five per cent on average in the county, with higher priced properties holding their value more.
The average price for a one-bed apartment in the county stands at €44,000, marking a 5.6 per cent drop compared to the same period last year.
A two-bed terraced house is valued at €57,000, while a three-bed semi detached houses are valued at €81,000, marking a 4.2 per cent fall in value on the first quarter of 2013.
The median price for a four-bed bungalow was €172,000 in the first three months of the year, recording a 0.7 per cent drop in value; while the average price for a five-bed detached house in the county was €215,000, a 0.8 per cent reduction on the same period in 2013.
The Myhome.ie report also covering the first three months of the year reveals that house prices have been falling more severely in Co Wexford than in neighbouring counties. According to the report the average asking price for a three-bed house in Co Wexford stands at €110,000, compared to €117,000 in Carlow, €225,000 in Wicklow and €137,000 in Kilkenny.
The average price for a four-bed semi detached house was €120,000, marking a 63.1 per cent drop in value. The report found that for the first time since mid-2007 house prices have risen in counties outside of Dublin, but this rise has yet to be felt in County Wexford, although the drop in prices has reduced significantly from early 2013.