The time taken to sell the average house in Wicklow has fallen by four weeks in the past quarter, a national property survey has found.
The REA Average House Price Survey found that the average time taken to sell across the county fell over the past three months from 14 weeks to 10.
As people move away from urban hubs and incorporate new working-from-home lifestyles, the price of the average three-bed semi-detached house in the county was unchanged this quarter, and has fallen 0.4% over the past 12 months to €283,000.
“The market is very strong. There are a lot of purchasers who would have wanted to buy in Dublin but now are interested in living in the country,” said Matt Forkin of REA Forkin North East Wicklow, and Wicklow Town.
“There is an increase in demand for rural properties with purchasers who do not have an attachment to Dublin. They are really interested in moving out to rural Wicklow.
“The demand for detached country properties is very strong, and prices are reaching higher are expected.”
Reduced selling periods reflects a more focused approach from loan approved buyers, according to Simon Murphy of REA Murphy, Baltinglass and Blessington.
“We expect that the current activity may be a bubble which could be burst once the Covid-19 supports are withdrawn,” said Mr Murphy.
“We are seeing an increased demand for one-off dwellings that are not too remote – access to community, services and quality broadband has an increased importance.”
North East Wicklow and Bray prices fell over the past 12 months by 1.9% to €300,000 and 1.5% to €335,000 respectively.
Prices in Baltinglass were unchanged this quarter but rose over the past 12 months by 2.9% to €175,000.
Prices were unchanged over the past 12 months in Blessington and Wicklow Town at €295,000 and €310,000 respectively.
Time to sell fell across the county this quarter. In Bray, time to sell fell by eight weeks and now stands at seven weeks.
Baltinglass time to sell fell by a fortnight this quarter to 14 weeks. In Blessington, time to sell fell from ten weeks to eight.
Time to sell in North East Wicklow fell by six weeks and Wicklow Town fell by five weeks, time to sell in both locations now stands at 10 weeks.
The REA Average House Price Survey concentrates on the actual 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 average three bed semi nationally is now reaching sale agreed after seven weeks across the country – a significant fall from the ten-week average in June.
Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the country rose by 0.6% over the past three months to €236,046, an annual increase of 0.4%.
Reflecting the beginnings of a flight to rural locations, prices in the rest of the country’s towns rose by almost 1% in 12 weeks to €163,345.