Cavan house prices rising faster than national average
The price of the average three-bed semi in County Cavan has risen 15.4% to €105,000 in the last year, according to a national survey carried out by Real Estate Alliance.
The REA Average House Price 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 property market in towns and cities countrywide to the close of last week.
The average three-bed semi price in Cavan Town has risen 22.5% in the past year, with values increasing from €102,000 to €125,000 with properties taking four weeks to sell, down from eight a year ago.
Prices in Ballyconnell have risen 6.3% over the past year to €85,000 and are taking seven weeks to sell.
The average semi-detached house nationally now costs €221,843, the Q3 REA Average House Price Survey has found – a rise of 3.1% on the Q2 figure of €215,269.
Overall, the average house price across the country has risen by 11.2% over the past 12 months – just under twice the 6% increase registered to the full year to September 2016.
The average three-bed semi-detached home in Dublin city has jumped in value by €17,000 in the three months to the end of September, and now costs €431,500.
The 4.1% rise over the last quarter means that prices in the capital’s postcode areas have increased by 15.6% over the past year, with properties selling in an average of four weeks after hitting the market.
The commuter counties continued to rebound after a relatively static 2016 and saw an increase of 2.7% this quarter, with the average house now selling for €229,300.
The slowest growth nationwide was registered in the main cities outside of Dublin, as while Galway at €255,000 (up 4.1%) and Limerick at €190,000 (up 2.7%) showed growth, Cork city prices remained static over the three-month period, and just 5.1% up on the year.
The country’s smaller rural towns situated outside of Dublin, the commuter belt and the major cities out-performed the national index with prices rising by an average of 2.8% over the quarter to €142,867.