House prices rise in Limerick

THE price of the average three-bed semi in Limerick City rose by 4.2 per cent to €200,000 in the last three months.

That’s according to a national survey carried out by Real Estate Alliance indicating that the average three-bed semi price in Limerick County now stands at €149,000, an increase of 0.7 per cent so far this year.

“Prices have increased in the first quarter of 2018, but we are expecting them to level off over the next few months due to the commencement of new home developments which will offer greater supply,” Michael O’Connor of REA O’Connor Murphy explained.

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 property market in towns and cities countrywide to the close of last week.

The average semi-detached house nationally now costs €229,111, the Q1 REA Average House Price Survey has found – a rise of 1.5 per cent on the Q4 2017 figure of €225,806.

Overall, the average house price across the country rose by 9.1 per cent over the past 12 months – indicating that the market is steadying after the 11.3 per cent overall rise in 2017.

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by Alan Jacques