Wicklow House Prices Fall 1% In 12 Months – REA Survey

The price of the average second-hand, three-bed semi in County Wicklow has fallen to €362,000, a decrease of 1% from €364,000 in the last twelve months, according to a national survey by Real Estate Alliance.

This quarter, prices remain unchanged, and time taken to sell is currently an average of six weeks, the Q3 REA Average House Price Index shows.

The survey shows that across the county, 85% of purchasers were first-time buyers, and 10% were from outside the county. 

A total of 20% of sales in the county this quarter were attributed to landlords leaving the market.

“Demand in North and South-West Wicklow area has stabilised, and this quarter saw a lower level of multiple viewings but positive interaction,” said Simon Murphy of REA Murphy Baltinglass and Blessington.

“The transparency of new housing developments coming to the market at significantly higher prices is helping sales prices.  

“Viewing numbers are low for the 3-bed semi market with buyers aspiring to stay closer to the employment centres.”

The REA Average House Price Index concentrates on the actual 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 1.4% over the quarter to €301,370 breaching the €300,000 mark for the first time since 2007.

House prices in Ireland’s large towns rose by 2% in the past three months and are increasing at twice the rate of Dublin and the major cities as mortgage approved buyers chase properties within their price ceiling.

Time taken to reach sale agreed nationally fell from six to five weeks as low supply continues to drive sales in an increasing interest rate environment.

Prices in Dublin city rose by 0.8% in the last three months, meaning that the average three-bed semi in the capital is now selling at €504,167 – an increase of 1.3% in the last year.

Nationally, 57% of sales are to first-timers, a figure that rises dramatically to 85% in Wicklow, Meath and North County Dublin as mortgage-approved buyers hunt suitably priced property.

Cities outside Dublin experienced a 0.73% rise to an average selling price of €317,500 – with the annual rate of increase halving to 4.5% from the previous survey.

Prices rose in Cork (1.4% to €365,000) and Limerick (1.8% to €285,000) while Waterford city and Galway remained static.

Commuter areas rose by 1.1% to €318,889, with 39% of buyers in areas such as Louth, Meath and Kildare coming from outside the county, a large proportion of them from the capital, with 73% of sales to first-time buyers.