Wicklow House Price Survey September 2022

The price of the average second-hand three-bed semi in County Wicklow has increased by 1.2% to €364,000 in the last three months, according to the latest national survey by Real Estate Alliance.

Across the county, time taken to sell rose by two weeks to an average of five, the Q3 REA Average House Price Index shows.

Wicklow agents are reporting that 56% of purchasers this quarter were first time buyers, with 33% of buyers coming from outside of the county.

Additionally, agents across the county are reporting that BER A-rated homes are commanding a 13% premium over their C-rated equivalents.

Average prices in Bray this period were unchanged at €425,000, with time to sell rising by one week to an average of four. North East Wicklow prices were up by 5.9% to €395,000, with time to sell sitting at four weeks.

During this period, prices in Wicklow town were unchanged at €395,000, with time to sell up by two weeks to five weeks average this quarter.

“We have noticed that housing stock levels in the second-hand market are back to 75-85% of levels seen pre-Covid,” said Matt Forkin of REA Forkin, Wicklow.

“This increase in supply has slowed down both the pace of the market as well as the time it takes bring the property from on-the-market to sale agreed.

“There is a significant level of ex-rental stock in the market, with landlords exiting the residential investment market.

“A number of new home developments right across County Wicklow have made up a lot of the supply, especially the first-time buyer market.”

Average prices in Blessington were unchanged at €360,000 this quarter, with time to sell remaining at four weeks. Baltinglass prices also saw no change this quarter, and currently sit at €245,000, with time to sell in the area remaining at six weeks.

“The quantity of viewings for mainstream three-bed homes has held firm since Q2, but we have seen an increasing willingness to step away from bidding wars,” said Simon Murphy of REA Murphy Baltinglass and Blessington.

Nationally, the rate of house price inflation has halved in the past three months as rising costs cause home buyers to be more cautious, the index shows.

The actual selling price of a three-bedroomed semi-detached house across the country rose by 1.4% over the past three months to €290,630 – representing an annual increase of 10%.

This is a marked slowdown on the 2.9% quarterly increase recorded in the preceding three months, signalling a cooling of the frenetic demand in the marketplace.

And the index found that A rated homes are commanding a 12% premium over their C rated equivalents – a figure that rises to 16% in the capital as running costs become more important to home buyers.

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.

Time taken to reach sale agreed rose to five weeks from four as REA agents nationwide reported a less frenzied approach to viewing and buying.

While the actual average selling price of three bedroomed homes in Dublin city is about to breach the €500,000 mark, the 0.8% quarterly rise to €497,500 is half that experienced in the previous three months.

58% of all purchasers in the past quarter were first-time buyers according to REA, a figure which rose to 76% in Dublin as people with mortgage approval look to get on the housing ladder.