Wicklow house prices expected to rise 5% in 2022

The price of the average second-hand three-bed semi in County Wicklow is expected to rise by 5% in the next 12 months, according to a survey by Real Estate Alliance.

Three-bed semi-detached homes in the county now cost an average of €342,000, up 3.3% in the final quarter of the year and  a rise of 17% on the December 2020 average of €293,000, the REA Average House Price Index shows.

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.

Landlords exiting the market have accounted for almost one in four home sales over the past three months, the data shows.

Average prices in Bray rose 2.6% in the past three months to €395,000, with North East Wicklow prices rising by 2.9% in the same period to €360,000.

The final quarter of 2021 saw prices in Wicklow town rise 5.71% to €370,000 – an annual increase of 16%.

“We are seeing a huge demand for quality houses in Wicklow town and surrounding areas, and an increase in demand from buyers commuting to Dublin,” said Matt Forkin of REA Forkin, Wicklow.

“Houses that are modern and ready to move in to are agreeing within 10 days from initial marketing.”

Average prices in Blessington increased 2.9% to €350,000 while Baltinglass rose 2.2% to €235,000 – an increase of 27% from their December 2020 average price of €185,000.

“It is anticipated that Q1 2022 may show a levelling off of prices for mainstream properties in the areas further out from Dublin City and the main employment centres,” said Simon Murphy of REA Murphy in Baltinglass and Blessington.

“However, the appeal of north-west Wicklow is expected to experience a continued surplus of demand over supply and prices, and competition for property.”

The price of a three-bedroomed semi-detached house across the country rose by €5,900 in the final quarter of 2021, to €269,963 – representing an annual increase of 13%.

Selling prices rose in commuter areas (3.34%) and the country’s large towns (2.57%) as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.

The commuter area increases are treble those in Ireland’s major cities, with Dublin increasing by 1% and Cork Limerick and Galway by an average of 0.8% as agents reported a quieter quarter.

In Dublin city, house prices rose by over €4,000 in Q4, compared to more than €10,000 in Q3, increasing from €467,000 in September to a present rate of €471,667.

Three bed semis in commuter counties rose 3.34% by over €9,000 in the past three months to an average of €291,944 – with the average home selling in just three weeks.

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