Property prices in Clare have risen by almost €5,000 in the first three months of the year.
The latest MyHome.ie Property Report, in association with Davy, for Q1 2018 shows that the median asking price for a property in the county now stands at €175,000. This is up €5,000 or 2.9% on the level it was at, at the end of 2017. Year-on-year prices are also up by the same amount leaving asking prices back at a level they were last at in Q3 2012.
Despite the increases, the asking price of a three-bed semi-detached house in the county fell slightly by 0.03% in the first quarter of this year to €149,950. Despite this minor fall, prices remain 5.2% ahead of where they were a year ago when the asking price for a three-bed semi in the county was €142,500.
While the asking price of three beds remained almost unchanged, the price of four-bed semi-detached homes in Clare continued to rise. Prices for a four-bed semi in the county were up 2.9% in the first quarter of the year, rising by €5,000 to €179,975. Annually prices were also up 13.2% from €159,000 this time last year. The current asking price for a 4-bed semi in the county is now at its highest level in almost seven years since they stood at €180,000 at the end of Q2 2011.
The number of properties for sale in County Clare on MyHome.ie has fallen by 15.1% in the last year, as stock levels across the country remain an issue. The average time to go sale agreed on a property in the county now stands at around five and a half months.
The report found that the prices of newly listed properties nationally rose by 4.8% in Q1, while prices in Dublin rose by 3.3%. Newly listed properties are seen as the most reliable indicator of future price movements. The median asking price for new sales nationally is €260,000, while in Dublin it is €345,000. The figure for outside Dublin is €210,000. Nationally, asking prices are up 9.5% on the year, while in Dublin price inflation is 8.2%.
A native of Ennis, Colin McGann has been editor of The Clare Champion since August 2020. Former editor of The Clare People, he is a journalism and communications graduate of Dublin Institute of Technology.