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House Prices Rise in Limerick...

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House Prices Rise in Limerick Amid Nationwide Property Inflation

Sarah McGuinness
Sarah McGuinness

06:30 27 Dec 2022


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House prices in Limerick city have risen by 1.9% in the last three months.

That's according to the latest REA Average House Price Index.

The price of a three-bed semi-detached property in the city now stands at €270,000, with the real estate body reporting an increase in listings in the past quarter - as vendors express feeling that prices may be close to peaking.

The average price of a house in Cork also rose by 1.4% to €355,000, while prices were up 0.36% nationally in the last quarter.

This brings the annual price increase nationwide to 8%.

The index pinpoints Dublin as an outlier, with the average price of a house in the capital down 0.34% in the last quarter of this year - marking the first time prices have dropped in three years.

Elsewhere, Galway city recorded a 0.3% increase to €311,000 in quarter four.

The city also saw the largest annual property price increase in the country, with houses up 24% from €178,000 to €220,000 in the last 12 months.

However, Dublin remains the home to the country's most expensive houses, with the average sale prices for Dublin City and north county Dublin coming in at €495,833 and €416,670 respectively.

The index also highlights that first-time buyers now make up 61% of the market, a rise of 3% since September.

This figure rises to 73% in Dublin.

 


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