Meath House Price Survey January 2022
10th January 2022
The price of the average three-bed semi in County Meath is expected to rise by 5% in the next 12 months, according to a survey by Real Estate Alliance.
Three-bed semi-detached homes in the county now cost an average of €282,500, up 16% on the December 2020 average of €242,500 and 2.7% since the start of October, the REA Average House Price Index shows.
The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide.
Landlords exiting the market have accounted for almost one in four home sales over the past three months, the data shows.
Prices in Ashbourne currently average at €345,000, an increase of 1.5% in the past three months and representing a 13% increase over 12 months.
“The limited supply of housing sales stock over the past quarter has placed upward pressure on prices, with pent-up demand due to lack of new homes in surrounding areas,” said Paul Grimes of REA Grimes, Ashbourne.
Trim prices increased by 3.6% in the final quarter of 2021 to €285,000, an increase over the entire year of 16.3%.
“We are seeing a lot more Dublin buyers coming to Trim to purchase due to more affordable homes here, along with excellent local facilities and schools, and a lot of these buyers are working from home so commuting is not an issue for them,” said Thomas Potterton of REA TE Potterton, Trim.
Prices in Navan increased to €270,000 in December, rising 1.9% over the past three months and 12.5% annually.
“Stock is at an all-time low and there is good demand for second-hand homes as there are no new homes in the area,” said Michael Gavigan of REA T&J Gavigan, Navan.
“There are a few new developments coming on stream in early 2022 which will assist the market.”
Kells prices saw an increase of 4.5% in Q4 2021 and 27.8% annually, with prices currently standing at €230,000.
“The market has calmed down a bit in the last quarter, but supply is still very low so prices continue to rise and houses are still moving very quickly,” said Cara Gavigan of REA T&J Gavigan, Kells.
Average house prices rose by 2.24% nationally in the last three months of 2021, half the rise experienced between June and September as demand eased and the market calmed.
The price of a three-bedroomed semi-detached house across the country rose by €5,900 over the past three months to €269,963 – representing an annual increase of 13%.
Selling prices rose in commuter areas (3.34%) and the country’s large towns (2.57%) as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.
The commuter area increases are treble those in Ireland’s major cities, with Dublin increasing by 1% and Cork Limerick and Galway by an average of 0.8% as agents reported a quieter quarter.
In Dublin city, house prices rose by over €4,000 in Q4, compared to more than €10,000 in Q3, increasing from €467,000 in September to a present rate of €471,667.
Three bed semis in commuter counties rose 3.34% by over €9,000 in the past three months to an average of €291,944 – with the average home selling in just three weeks.
As the flight to rural locations continues, prices in the rest of the country’s towns rose by 2.6% in Q3 to €190,138.
Cork, Limerick, Galway and Waterford cities shared a combined increase of 0.8% in the past 12 weeks with the average three bed semi now costing €283,000.
While Cork (€335,000), Galway (€302,000) and Waterford (€250,000) were relatively static, prices in Limerick rose by 2.1% to €245,000.