Waterford city house prices up another 5% in last year

County prices are slowing down

Justin Kelly

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Justin Kelly

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news@waterfordlive.ie

Waterford city house prices up another 5% in last year

Waterford city house prices up another 5% in last year

The price of the average three-bed semi in Waterford City rose by 4.9% this year while prices in the county rose by 0.8% according to a national survey carried out by Real Estate Alliance.

Over the past three months Waterford prices remained static throughout the county and city areas, the REA Average House Price Survey found.

The 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 second-hand property market in towns and cities countrywide to the close of last week.

“There is still a shortage of stock in Waterford, but demand has also cooled. This is evident as prices are static. Brexit is definitely having a negative effect,” said Des O’Shea of REA O’Shea O’Toole in Waterford City.

The average three-bed semi-detached house in Waterford city is currently priced at €215,000, and time on the market remains unchanged at eight weeks.

“Activity in the market today is quite patchy. The significant media commentary on Brexit is having a noticeable impact, both on vendors considering bringing a property to the market and on buyers considering purchasing,” said Eamonn Spratt of REA Spratt, Dungarvan.

The average price for a three-bed semi-detached house in Waterford county currently sits at €178,000, with time on the market rising this quarter from nine weeks to 10.

The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.

The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.

Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.

Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.

After a year of rises to June, agents are citing uncertainty surrounding Brexit hampering viewing numbers.

Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.

“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.