The price of the average three-bed semi in Waterford city is expected to rise by 4% in the next 12 months, while prices in the county are expected to increase by 8%, according to a survey by Real Estate Alliance.
Three-bed semi-detached homes in the city now cost an average of €295,000, up 5% on the December 2022 average of €280,000, the Q4 REA Average House Price Index shows.
Prices across the county have risen to an average of €245,000, representing an annual increase of 14% from €215,000.
In the city, first-time buyers made up 80% of the market in Q4, with 25% of purchasers coming from outside the county, and 50% of sales attributed to landlords leaving the market.
“Demand is still strong for good houses at affordable levels, however we are facing very limited supply, and houses in poor condition are harder to sell,” said Barry McDonald of REA O’Shea O’Toole, Waterford city.
“In Waterford, we expect increase in values of around 4% next year.”
Across the county last quarter, first-time buyers made up 50% of the market, with 20% of purchasers coming from outside the county, and 30% of sales attributed to landlords leaving the market.
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.
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