Expected rise in Wexford house prices this year

THE price of an average three-bed semi-detached home in Co Wexford is expected to rise by around 4 per cent over the coming year.

That’s according a survey carried out by Real Estate Alliance (REA).

Throughout last year prices in the county rose by 2.8 per cent reaching an average peak of €185,000 and no change being recorded between September and December.

The REA survey focusses on the actual sale price of Ireland’s typical stock home - the threebed semi - and provides an up-to-date picture of the second-hand property market in towns and cities nationwide.

Commenting on the survey, Robert McCormack, from REA McCormack- Corish in Wexford town, said Brexit is having an affect on the market - despite a slow down in the last few months.

‘ The absence of an agreed Brexit will lead to uncertainty in the first quarter of 2019,’ said Mr McCormack.

‘Prices are stable, but stock is low and we foresee only limited growth this year,’ he added.

The house prices in Wexford compare favourably with the average nationwide figure which is €236,287 - a rise of .6 per cent in the second half of last year.

Mr McCormack said there were indications that the market has steadied now despite rising by 4.6 per cent over the last 12 months.

‘ The market is continuing to steady after a 11.3 per cent overall rise in 2017,’ said Mr McCormack.

The survey also revealed that growth in ‘commuter’ counties also slowed to .38 per cent in the last three months - following an annual average rise of 4.18 per cent.

REA spokesperson, Barry McDonald, said in the country’s towns, outside of the major cities and great Dublin area, there is ‘a perfect storm of affordability within the 10 per cent deposit range - and no new homes - as it is still uneconomical to build in many places.