Property prices rise by €2,000 in a year
AVERAGE WICKLOW ASKING PRICE IS NOW €339,000
PROPERTY prices in Wicklow have risen by €2,000, according to the latest MyHome.ie Property Report in association with Davy.
The report for first quarter of 2020 shows that the median asking price for a property in the county is now €337,000. This is up €2,000 from the last quarter and up €17,000 from this time last year.
The last time prices were higher in the county was in the last quarter of 2010, when the median asking price was €339,000.
However, despite this overall trend, asking prices for a 3-bed semi-detached house in the county fell by €5,000 to €315,000. Prices for this house type are down €2,000 compared to this time last year.
Meanwhile, the asking price for a 4-bed semi-detached house in Wicklow stayed steady at €435,000. This means prices in the segment were up €52,500 compared to this time last year, when they stood at €382,500.
The number of properties for sale in Wicklow on MyHome. ie fell by 7 per cent in the last quarter and was down 15.9 per cent on this time last year.
The average time for a property to go sale agreed in the county after being placed up for sale now stands at five and a half months.
Nationally, residential property transactions in January were up 6 per cent year-onyear, while agreed sales and mortgage approvals in Quarter one were both up 10 per cent annually. Similarly, housing completions rose to 21,124 in 2019, up 18 per cent on the previous year.
However, Covid-19 and the measures needed to fight it would likely kill off any green shoots experienced so far this year.
‘For now, the immediate outlook is an illiquid market with depressed pricing among the very few transactions that do take place. In this context, our forecast for 2 per cent Residential Property Price Index (RPPI) inflation through 2020 now looks optimistic,’ said Conall MacCoille, Chief Economist at Davy.