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House prices still on the rise in Waterford

House prices still on the rise in Waterford
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House prices in county Waterford rose by almost 4% in the first three months of the year.

The latest Daft.ie report shows a 16.4% rise year on year in county Waterford's median asking prices.

The year on year change in Waterford city's house prices was 9%, while there was a 3% change in prices in the first quarter of 2022.

The average cost to buy a house in the county is now €283,336, while in Waterford city the average asking price is €218,866.

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While nationally findings from Daft, shows the average listed price nationwide is now just under €300,000.

Supply shortage

The Daft report for the first quarter of 2022, noted a serious supply issue in the Munster region.

It stated supply in the provinces is 'at a new low', with just 2,800 properties on the market on March first, down from 3,618 on the same date a year prior.

Supply as a whole so far in 2022 is down 20% on the previous year, with just 10,047 properties on the market nationally. In 2019, that number was just over 17,500 properties.

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Author of the report Ronan Lyons says, “Both new and second-hand supply remain weaker than expected before the pandemic. Combined with unexpected strong demand, due to accidental savings during the lockdown, this has driven up prices.

"Additional supply – of all types of homes, for sale but also market rental and social rental housing – remains the only real solution to solving Ireland’s chronic housing shortage," Lyons says.

More here on the latest news for Waterford.

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