Wicklow house prices rise 1.6% in three months

The price of the average second-hand three-bed semi in County Wicklow has risen by 1.6% to €359,600 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell is three weeks, the Q2 REA Average House Price Index has shown.

Prices in Bray rose by 2.4% to €425,000 this quarter, while Wicklow town saw a 1.3% increase to €395,000 over the past three months. 

“We are still experiencing far lower than pre-pandemic levels of stock, however more second hand properties are coming to the market,” said Matt Forkin of REA Forkin, Wicklow.

“New home completions in the north of the county are alleviating some of the pressure in demand for housing. 

“Prices are starting to level off, and we are not seeing the same level of bidding over the asking prices as we have over the past 12 months.

Prices in Blessington saw a 1.4% increase this quarter to €360,000, while Baltinglass prices rose 2.1% to €245,000. 

“Supply of property remains a problem for intended purchasers,” said Simon Murphy of REA Murphy Baltinglass and Blessington.  

“In certain instances a 3-bed semi could make €20,000 more than it did in March, such is the demand.”   

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.

A marked increase in private landlords selling their properties nationally has increased supply levels and tempered price rises in some areas.

Up to 30% of houses for sale in some areas of Dublin are now due to landlords selling their additional properties, with knock-on effects for the rental market, the survey has found.

Actual selling prices in Dublin postcode districts have risen by 2.5% in the past three months, to an average of €493,333 – but the annual rate of increase has dropped two percentage points to 8% on the previous survey.

The price of a three-bedroomed semi-detached house across the country rose by 2.9% over the past three months to €286,611 – representing an annual increase of 13%.

58% of all purchasers in the past quarter were first-time buyers according to REA, a figure which rose to 78% in Dublin as people with mortgage approval scramble to get on the housing ladder.

The highest segment increase in Q2 was in cities outside the capital, which saw a 3.3% rise to an average selling price of €298,750.

Commuter counties saw prices increase by 2.3% – a jump of €6,833 to €311,833.

In the rest of the country, where prices rose 3.2% to €202,897, the survey found that one in every three buyers were from outside the county, with 50% first-time purchasers, as new working conditions enable a rethink on home bases.

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