The national average price of a three-bed semi-detached house has breached €300k for the first time since 2007 while a three-bed in Dublin is now €500k.House prices in Ireland’s large towns rose by two per cent 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, the Q3 REA Average Price Index has found.Prices in Dublin city rose by 0.
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. “A stream of interest rate rises are affecting borrowing capacity and placing ever lower ceilings on first-time buyer budgets. The pricing ceiling effect is also being felt down the coast as far as Wexford where 50 per cent of buyers are now from outside the county, the survey found.