House prices in Offaly level off after years on the up

Justin Kelly

Reporter:

Justin Kelly

Email:

news@offalyexpress.ie

House prices in Offaly level off after years on the up

House prices in Offaly level off after years on the up

The price of the average three-bed semi in Offaly has remained unchanged over the past year, according to a national survey carried out by Real Estate Alliance.

The average price of a three-bed semi-detached house in Offaly remained at €180,000 this quarter and the average time to reach sale agreed rose from six weeks to seven, the REA Average House Price Survey found.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

“There is a lot of uncertainty surrounding Brexit, and the surrounding talk of prices falling is not helping the market,” said Aidan Heffernan of REA Heffernan in Tullamore.

The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.

The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.

Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.

Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.

After a year of rises to June, agents are citing uncertainty surrounding Brexit hampering viewing numbers.

Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.

“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.