House prices continue to escalate within the county

The price of the average three-bed semi in County Westmeath increased by 2.6 percent over the past three months the REA Average House Price Survey has found.

The 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.

“A large volume of our properties is being sold to owner occupiers this quarter and we are seeing that finance now seems to be more readily available to potential buyers,” Donna Hynes of REA Hynes, Athlone, reflected.

The price of an average three-bed semi-detached house in Westmeath rose this quarter to €195,000, and the average time on the market fell from seven weeks to six.

The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found, a drop of 0.43 percent 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 percent ) since the end of June and have decreased by -3.3 percent to €428,500 compared to September 2018.

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

After a year of rises to June, agents are citing an 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 percent ) 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,” REA spokesperson, Barry McDonald, commented.

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