There is a limited stock of properties to offer for sale in County Clare, a survey has confirmed.
The price of the average three-bed semi in Clare rose by 1.1% to €180,000 in the first three months of the year, according to a national survey carried out by Real Estate Alliance. Clare prices increased by 9.1% in the year to March 2018.
The REA Average House Price 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 property market in towns and cities countrywide to the close of last week.
“While there has been an increase in the number of mortgage approved home-buyers, there is a lack of supply in Clare,” said Liam Browne of REA Paddy Browne, Ennis.
The average semi-detached house nationally now costs €229,111, the Q1 REA Average House Price Survey has found – a rise of 1.5% on the Q4 2017 figure of €225,806.
Overall, the average house price across the country rose by 9.1% over the past 12 months – indicating that the market is steadying after the 11.3% overall rise in 2017.
The rate of increase in three-bed semi-detached home prices in Dublin slowed to just 0.5% in the first three months of the year.
After rising by 12.5% in 2017, the average price in the capital has increased by just €2,000 in the opening quarter and now stands at €440,000 – exactly twice the Central Bank’s €220,000 mortgage deposit threshold.
The rate of increase in three-bed semi-detached home prices in Dublin has now slowed to 2% over the past six months, compared to an increase of 4.5% in the opening three months of 2017.
“The Dublin market has become quite price sensitive, even though we are seeing healthy demand and good liquidity with plenty of mortgage lending,” said REA spokesperson Barry McDonald.