Wexford House Price Survey June 2023

The price of the average second-hand three-bed semi in County Wexford has risen to €255,000, up 1% from €252,500 in the last three months, according to a national survey by Real Estate Alliance.

Across the county this quarter, prices in Wexford town have increased to €240,000, up 1.1%, and in Gorey prices have increased to €270,000, up 0.9%, the Q2 REA Average House Price Index shows.

“We have had a very active market since the beginning of March in particular,” said Winston Halnon of Halnon Humphreys Gorey.

“We have agreed a large number of sales throughout the county.

“Pricing is sensitive across all property types – if it is too expensive it will sit there, but if it is priced competitively it will get interest and go sale agreed quickly.

“The most noticeable thing in the past 12 months in particular is that properties that require upgrade works are seeing less interest compared to last year, which can affect the selling price.

“Properties that are in move-in condition will get good interest.

“It is certainly worth preparing your property for sale in this market, as it attracts buyers.

“We have been encouraged recently with some landlords buying properties to rent.

“Rent restrictions will affect their appetite, so the return needs to be attractive to make it viable.

“Stock numbers of property for sale is very low, and likely this will continue for the foreseeable.

“New homes are slow to complete, which is affecting supply levels in the second-hand market also.

“We see a large increase at this time of the year for coastal properties – this is always the case no matter which way the market is performing.”

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.