Steady Year-On-Year Rise In The Cost of Wicklow Second-Hand Property Prices

A new survey shows that Wicklow house prices have risen by 7% in the past year.

The price of the average second-hand three-bed semi in County Wicklow has risen by 7% in the past year to €396,629, according to the latest national survey by Real Estate Alliance.

The average price represents a 0.9% quarterly increase and across the county, the time taken to sell remains at five weeks, the REA Average House Price Index shows.

Average prices in Blessington rose slightly (0.3%) to €396,000, with homes taking four weeks to reach sale agreed on average.

Baltinglass prices rose by 1.48% in the quarter to €274,000, with homes taking an average of six weeks to reach sale agreed.

“The shortage of supply continues to support strong prices. Prices are being dictated by borrowings rather than prevailing value, which contributes to some extraordinary prices in some instances,” said Simon Murphy of REA Murphy Baltinglass and Blessington.

The REA Average House Price Index concentrates on the 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 announcement of a nationwide rent pressure zone has triggered a sharp increase in landlords exiting the housing market, the survey showed.

The Government’s announcement in June was followed by an immediate spike in landlord sales in many areas now included in the legislation.

REA agents in Carlow, Kerry and Waterford have reported that over 40% of their sales are attributable to landlords in the past three months – with that figure rising to 60% in Limerick city and 80% in Nenagh.

The REA survey also found that properties with a BER rating of A commanded an average 17% premium over C-rated stock – reflecting the rising attractiveness of retrofitted homes.

The actual selling price of a three-bed, semi-detached house across the country rose by 1.6% in the past three months to €353,458, a 9.1% overall rise annually.