Kilkenny House Price Survey March 2022

The price of the average second-hand three-bed semi in County Kilkenny has risen by 2.1% to €245,000 in the last three months, according to a national survey by Real Estate Alliance.

And the survey has shown that 35% of sales in the county are to first-time buyers, with 30% of all purchasers coming from outside the area.

Across the county, the average time taken to sell is four weeks, the Q1 REA Average House Price Index has shown.

Kilkenny city prices remained unchanged this quarter at €285,000, with first-time buyers representing 40% of sales, and 10% of buyers coming from outside the county.

Prices in Callan rose by €10,000 to €205,000, an increase of 5.1%, with 30% of sales to first-time buyers and 50% of buyers from outside the county.

“The market is still strong. Supply is very poor and there is some concern about entering the market due to international uncertainty,” said Robbie Grace of REA Grace, Callan.

The REA Average House Price 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.

Nationally, house prices are increasing at an average of almost €100 a day as the market shows no signs of slowing up in the early months of 2022, the survey has found.

Average house prices rose by 3.16% nationally in the first three months of year, matching the 1% a month increases experienced during the Celtic Tiger days.

And illustrating the two-tier nature of the market, 59% of all purchasers were first-time buyers, that figure rising to 76% in Dublin as people with mortgage approval scramble to get on the housing ladder.

The price of a three-bedroomed semi-detached house across the country rose by almost €9,000 over the past three months to €278,500 – representing an annual increase of over 14%.

The average three bed in Dublin is fast approaching the €500,000 mark, with actual selling prices rising by 2.2% since the new year, to an average of €481,250.

Commuter counties saw prices increase 4.47% – a jump of €13,000 to €305,000 – and double the rate of increase seen in the capital.

In the rest of the country, where prices rose 3.4% to €196,569, the survey found that one in every three buyers were from outside the county as new working conditions enable a rethink on home bases.