Meath house prices up 2.3pc in three months

The price of the average second-hand three-bed semi in County Meath has increased to €328,559, up 2.3 percent from €321,250 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell has fallen by one week to an average of three, the Q2 REA Average House Price Index shows.

Average prices in Trim this quarter rose 3 percent to an average of €340,000, with time to sell currently three weeks.

“The sales market remains strong in the county. Demand is high and, due to lack of supply, property is selling considerably over the asking price,” said Thomas Potterton of REA TE Potterton, Trim.

The survey shows that across the county, 75 percent of purchasers were first-time buyers, while a total of 12 percent of sales in the county this quarter were attributed to landlords leaving the market.

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 house across the country rose by 2.7 percent in the past three months to €347,912, and 10.3 percent overall annually.

While actual selling prices in Dublin city rose by 2.6 percent in the last three months, REA agents have noticed fewer first-time buyers at recent viewings.

The average three-bed semi in the capital is now selling at €572,693, a 9 percent annual rise of almost €50,000.

The country’s biggest rises this quarter came in the commuter belt, as selling prices increased by 3.1 percent to €361,319.

The commuter belt increases were particularly felt in Kildare, where Newbridge, Naas, Maynooth and Celbridge all experienced three-monthly price rises of 5 percent.

Homes in Cork city hit €400,000 for the first time as prices in the major cities outside the capital rose by an average of 1.5 percent to €360,605 in the last three months, an annual rate of increase of 8 percent.

The REA survey found that properties with a BER rating of A commanded an average 16 percent premium over C-rated stock.