Waterford House Price Survey September 2024

The price of the average second-hand three-bed semi in county Waterford has increased to €260,000, up 2% from €255,000 in the last three months, according to a national survey by Real Estate Alliance.

The market in Waterford city this quarter increased to €305,000, up 1.7pc from €300,000, the Q3 REA Average House Price Index shows.

Across the county, the average time taken to sell has increased by a fortnight to a total of eight weeks, while time to sell in the city this quarter decreased by one week to a total of five.

“Limited stock of homes coming to the market remains the biggest influencing factor,” said Eamonn Spratt of REA Spratt, Dungarvan.

"We also are noticing that the period of time for sales to complete is lengthening."

The survey shows that 65pc of purchasers in the city and 50pc of those across the county were first-time buyers, and 20pc of city purchasers and 25pc of purchasers in the county were from outside Cork.

A total of 25pc of sales in the city and 20pc across the county this quarter were attributed to landlords leaving the market.

The REA Average House Price Index concentrates on the 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 actual selling price of a three-bed, semi-detached house across the country rose by 2.7pc in the past three months to €323,741.

Time taken to reach sale agreed nationally has dropped to four weeks as low supply continues to drive sales.

A supply drought in Dublin has reignited the commuter property market as buyers battle to secure affordable family homes, the Index has found.

Frustration in the capital has led to the return of the previously unheated commuter market, which has risen by 2.9pc over the past three months to an average of €336,944.

And further afield, large towns such as Ennis, Tralee, Tullamore and Athlone have experienced average increases of €20,000 in the past three months.

Actual selling prices in Dublin city rose by 1.3pc in the last three months, and the average three-bed semi in the capital is now selling at €532,333 – an annual increase of 7.4pc.

The number of sales in the capital due to landlords leaving the market has risen six points to 24pc in the past year, the Index revealed, but some areas are reporting a figure of over 50pc.

Prices in the major cities outside the capital rose by an average of 2.25pc to €341,250 in the last three months – an annual rate of increase of 7.5pc.

Homes in the country’s large towns continue to show the biggest growth nationwide, up 10pc on last September and 3.6pc this quarter to an average of €243,241.