THE AVERAGE PRICE of a house in Dublin rose by 2.6% in the second quarter of 2017 according to a new survey.
Meanwhile, three-bed semis in the capital which had taken an average of seven weeks to sell in 2016, are now changing hands inside 21 days.
The data is contained in a new house price survey by REA agents, and shows that the average three-bed semi is now selling for €414,500 in the city, a rise of €10,000 in just the past three months.
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Two-bed semis meanwhile are now selling for €215,000, a similar rise of 2.5% in the second quarter of the year.
House prices in general across the country have increased by 11.2% in the past 12 months - a giant leap from the increase over the 12 months to June 2016 of 4.5%.
Dublin’s commuter counties have seen a bounce in prices after a slower end to 2016 according to the survey, with the average price in Louth, Meath, Kildare, Wicklow, Carlow and Laois now €223,267, a jump of 2.6% in the past three months.
Outside Dublin, REA suggest that new-build properties are beginning to have an impact on the prices of older dwellings.
“Agents have been reporting that where there are new homes available, the price of second-hand properties has been under pressure,” said REA spokesperson Healy Hynes.
Most of our national housing stock is over a decade old, and house purchasers – especially first-time buyers – will opt for new builds at a higher spec, even if there is a marked difference in price.
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