THE price of the average second-hand three-bed semi in Limerick City could now set buyers back by up to €330,000, up 1.5 per cent from €325,000 in the last three months, according to a new national survey.
There was a similar rise in the county, with three-bed semi homes increasing to €270,000, up 1.9 per cent from €265,000, the Q2 Real Estate Alliance (REA) Average House Price Index reported.
According to the report, the average time taken to sell is currently three weeks in Limerick City and four in the county.
“We are seeing similar trends to the previous quarter – the only difference is that there seems to be a slight rise in stock levels,” said Limerick auctioneer Pat Dooley of REA Dooley.
The survey shows that 75 per cent of buyers in the city and 80 per cent in the county were first-time buyers. 60 per cent of all sales in the city this quarter, and 45 in the county, were attributed to landlords leaving the market.
Additionally, agents across the county reported that the BER ratings of properties saw A-rated properties command 15 per cent price increases in comparison to comparable C-rated homes.
The REA Average House Price Index concentrates on the sale price of Ireland’s typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.
The actual selling price of a three-bed, semi-detached home across the country rose by 2.7 per cent in the past three months to €347,912, and 10.3 per cent overall annually.
