House prices in Waterford continue to climb, with new figures showing steady growth across both the city and county. The latest survey from Real Estate Alliance (REA) reveals that the average price of a second-hand three-bed semi-detached home in County Waterford has increased by 2.5% this quarter to €302,500.

Waterford City

In Waterford city, prices have also risen, increasing by 1.4% over the past three months to reach an average of €350,000. Homes are moving quickly in the current market. Sellers are agreeing deals in just five weeks on average in the city, while it takes around ten weeks across the wider county.

First-Time Buyers Drive Demand

First-time buyers continue to dominate the Waterford market. They accounted for 75% of purchases in the city and 60% across the county in the past quarter. At the same time, landlords are leaving the market in significant numbers. The data shows that landlords were responsible for 60% of property sales in the county and 25% in the city. Eamonn Spratt said the figures point to a growing trend. He said a high volume of smaller landlords are exiting the rental market, which is shaping supply and demand locally.

Energy-Efficient Homes

Energy efficiency is becoming a key factor for buyers. The survey found that A-rated homes now command a 15% price premium in Waterford city and up to 25% across the county when compared to C-rated properties.

National Prices Continue to Rise

Across Ireland, the average price of a three-bed semi-detached home now stands at €364,747, following a 1.5% increase this quarter. Prices have risen by 7.67% over the past year, although the rate of growth has slowed slightly from 9% six months ago. Agents report that rising energy costs are influencing buyer decisions nationwide, with demand increasing for more energy-efficient homes.

Mixed Trends Across the Country

In Dublin, prices rose by 1.6% this quarter, bringing the average cost of a three-bed semi to €595,453. However, the proportion of first-time buyers in Dublin has dropped from 50% to 39% in the past six months, as some buyers take a cautious approach due to changes in rental legislation. Elsewhere, prices in Ireland’s major cities outside Dublin increased by 1.2% to an average of €378,250, with homes selling in around four weeks. Large towns recorded a stronger quarterly increase of 2%, while commuter counties saw more modest growth of 1%.

Waterford Reflects National Trends

Waterford’s market reflects broader national patterns, with steady price growth, strong first-time buyer activity and a continued exit of landlords. However, the higher share of first-time buyers locally highlights the city and county as relatively accessible compared to Dublin and other major urban centres. As supply pressures continue and demand remains strong, prices in Waterford are likely to remain on an upward trajectory. For the latest Waterford News and Sport, tune into WLR News on the hour and download the WLR App for news on demand.