Kildare House Price Survey January 2023

1st January 2023

Kildare House Price Survey January 2023

The price of the average three-bed semi in County Kildare is not expected to rise 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 €361,250, up 11% on the December 2021 average of €325,000, the Q4 REA Average House Price Index shows.

However, house prices in the county were static in the last quarter of the year as rising interest rates and cost of living increases combined to dampen the market.

REA agents believe that this will continue to be the case in 2023.

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.

First time buyers in Kildare made up 70% of the market in Q4 2022, with 50% of sales coming from outside the county.

Between October and December, three-bed semis commanded average prices of €390,000 in Maynooth, €380,000 in Celbridge, €365,000 in Naas and €310,000 in Newbridge – all unchanged from the previous quarter.

“The market has been steady with sales on average, however they are taking longer to sell  at approximately six weeks,” said Brian Farrell of REA Brophy Farrell.

The actual selling price of a three-bedroomed semi-detached house across the country rose by 0.36% over the past three months to €291,667 – representing an annual increase of 8%.

However, house prices in Dublin have fallen slightly by -0.34% in the same period, as mortgage interest rate rises and cost of living increases stem the stream of potential homeowners.

REA agents throughout the country expect prices to rise by just under 3% on average in the next 12 months.

The property market is expected to enjoy a calmer 2023 as mortgage interest rate rises and cost of living increases affect buying ability, according to the nationwide survey.

The majority of REA members feel that the scheduled changes to the Planning Acts will have little effect on market supply in 2023, due to the time lag between legislation and enactment.