Carlow House Price Survey September 2021

The price of the average second-hand three-bed semi in County Carlow has risen by 3.4% to €195,000 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, homes are reaching sale agreed in three weeks, the Q3 REA Average House Price Index shows.

Prices in Carlow town rose 1.5% to €205,000 this quarter, with time to sell steady at three weeks.

“If a property is priced correctly, we are guaranteed 15-20 viewers, and we would have three or four bidders with reserve being matched or exceeded,” said Harry Sothern, REA Sothern, Carlow town.

“In August and early September, a number of people went on holidays and the market was not as active, but enquiries are coming in stronger in the second part of September.”

Tullow prices rose 5.7% this quarter to €185,000, with time taken to sell remining at four weeks.

“Lack of supply continues to be an issue, and currently there are very few starter homes for sale in the Tullow area,” said Matthew Conry of REA Dawson, Tullow.

“Good quality residential properties which are in in rural areas and are close to good road infrastructure are attracting strong interest from Dublin buyers, who now have the option to work from home on a full or part time basis.”

Average house prices nationally have risen by €3,500 per month since the end of June, with selling prices in commuter areas and small towns increasing by over double the growth experienced in the major cities.

The survey 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.

The price of a three-bedroomed semi-detached house across the country rose by 4.1% over the past three months to €264,056 – representing an annual increase of 12%.

The biggest rises in Q3 came in commuter counties (4.6%) and the country’s large towns (4.9%) as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.

They are being joined by a surge of interest from ex-pats, anxious to return to Ireland after the pandemic, with more set to return when family homes become available.

The rural and commuter area increases are double those being experienced in Ireland’s major cities, with Dublin increasing by 2.3% to €467,000 and Cork, Limerick and Galway by an average of 2.4% to €281,750.

“The survey’s average of four weeks to sell should be even lower because, while bidding is fast and furious, vendors are not rushing to accept offers,” said REA spokesperson, Barry McDonald.

“With an exceptional shortage of stock, demand is being fuelled by an increase in mortgage-approved buyers on the market.

“The rural flight, which began during lockdown, shows no signs of letting up, even in the face of a return to office working.”