Tipperary House Price Survey June 2023

The price of the average second-hand three-bed semi in County Tipperary has risen to €225,000, up 3.4% from €217,500 in the past three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell is currently four weeks, the Q2 REA Average House Price Index shows.

Average prices in Nenagh rose 4.3% to €245,000 this quarter, with time to sell falling by one week to an average of three.

“There is an extreme lack of supply with practically no three-bed semis on the market,” said Eoin Dillon of REA Eoin Dillon, Nenagh. 

Clonmel average prices rose by 9.1% this quarter to €240,000, with time to sell falling by one week to an average of three.

“The severe shortage of houses for rent and for sale is driving demand and we are finding that there is a lot of interest in houses across all sectors,” said John Stokes, REA Stokes & Quirke Clonmel.

Average prices in Newport were unchanged this quarter at €230,000, with time on the market currently four weeks.

“Supply continues to be an issue, and we are seeing landlords continuing to exit the market,” said James Lee of REA John Lee, Newport.

Average prices in Roscrea remained at €185,000 this quarter, with time to sell currently five weeks.

“Supply is currently short on property under €250k, and we have seen that interest has slowed on property over €350k,” said Seamus Browne of REA Seamus Browne, Roscrea.

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.

The actual selling price of a three-bedroom, semi-detached house across the country rose by 1.3% over the quarter to €297,056 – representing an annual increase of 6.6%.

The price of a three-bed semi in Dublin city has hit €500,000 for the first time, rising by by 0.3% in the past three months. They are now 14% ahead of their €431,000 Celtic Tiger peak level, with demand being largely driven by first-time buyers in an otherwise cautious market.

Time taken to reach sale agreed nationally has risen to six weeks as REA agents reporting that pricing levels are key in a sensitive market.

Cities outside Dublin experienced a 1.53% rise to an average selling price of €315,000 – an increase of 8.9% in the past 12 months.

Commuter areas rose by 0.4% to €315,389, with 41% of buyers coming from outside the county, a large proportion of them from the capital, with 72% of sales to first-time buyers.

The highest three-bed semi price rises came in the country’s main towns which rose by 2.24% in the past three months to an average of €216,517, with time taken to sell at five weeks.

Areas that attract holiday home buyers have noted an increase in UK or cross border interest with examples such as Bantry and Bundoran both recording €5,000 average increases in the past three months.