Average Laois house prices rise 1.5% in past three months- says REA survey

Average Laois house prices rise 1.5% in past three months- says REA survey

The price of the average three-bed semi in County Laois rose by 1.5% to €198,000 in the past three months according to the REA Average House Price Survey.

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.

“Time on the market increased for the first two months of this quarter, and a pickup has taken place in the past fortnight,” said Seamus Browne of REA Seamus Browne in Portlaoise.

Time on the market for the average three-bed semi-detached house rose this quarter from eight weeks to ten.

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 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%) 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.