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House Prices in Ireland Right Now

07 October, 2014

If you are a first time buyer looking to get a foothold on the property market then you could bag a serious bargain in Roscommon, Laois or Leitrim. According to the Daft.ie House Price Report for the second quarter of 2014, the average asking price for a 3 bed semi-detached in Roscommon costs just €54,000 while the same property asking price in Laois is €55,000, followed respectively by Leitrim at €57,000.

Compare the same 3 bed semi-detached average asking price in South County Dublin and that price skyrockets to €441,000 or the asking price in South Dublin City which averages at €320,000.

Outside of the capital, Cork holds the title for the most expensive asking price for a city location at €150,000 average for a 3 bed-semi-detached, followed by Galway at €139,000.

In terms of year on year asking price changes outside of Dublin, Wicklow has seen the biggest price increase up by 13.4% with Donegal seeing the biggest price decrease, down 8.7%.

Interestingly, asking prices have risen by 5.5% during the second quarter of 2014 – the largest quarterly rise since early 2006. The average transaction price was 11.7% higher compared to the same period in 2013.

The gap between transaction prices in Dublin compared to the rest of the country widens further according to the Daft.ie report, which highlighted Dublin transaction prices increasing by up to 30%, compared to the same period in 2013. Looking at Munster, Connaught and Ulster for the same period, transaction prices were 10 to 15% lower than the previous year.

3 out of 5 properties that go on the market now sell within 4 months and asking prices outside Dublin rose for the first time since 2007. According to the Daft.ie report, the average asking price nationwide is now €187,000 compared to €171,000 a year ago and €380,000 in the peak of the boom.

 

House Prices in Ireland Infographic

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