Property prices continue to rise
MYHOME.IE AND REA FIND PRICES UP €15,000 AND 6.2% IN PAST YEAR
TWO separate reports have shown that property prices are continuing to rise in the Garden County.
Both the MyHome.ie Property Report and Real Estate Alliance (REA) Average House Price Survey show that prices have increased from this time last year, with that upward trend clear to see the last three months.
According to the MyHome.ie report, which was compiled in association with Davy, property prices in Wicklow have risen by €15,000 over the past year. The figures show that the average asking price for property in the Garden County now stands at €320,000 – a €10,000, or 3.2 per cent, increase from the previous quarter. It also represents a 8.5 per cent increase from the average price of €295,000 at the same stage last year.
House prices have now reached their highest level since 2011 and Wicklow remains the most expensive place in the country to purchase property, surpassing the overall Dublin asking price of €299,000.
Despite the overall increase, the report found that the price of a three-bed semi-detached home Wicklow remained unchanged in the last quarter at €295,000. This was still 3.5 per cent or €10,000 up on this time last year, with prices remaining at their highest point in eight years.
There was a slight decline of 1.3 per cent (or €5,000) in the average asking price of a four-bed semi-detached house in Wicklow, which stands at €370,000.
The report also found that the number of properties for sale has increased by 26 per cent in the last quarter and by 4.7 per cent from this time last year. The average time sale agreed is reached is currently four-and-a-half months.
In contrast to the Myhome. ie figures, the REA found that the price of the average threebed semi in Wicklow did actually rise – by 2.1 per cent to €290,000 – in the last three months.
Wicklow prices, on average rose 6.2 per cent in the last 12 months, the REA survey found.
The survey concentrates on the sale price of Ireland’s typical stock home, the three-bed semi, giving an up-to-date picture of the second hand property market in towns and cities countrywide to the close of last week.
Working from home has become part of the equation to beat both commuting and property for many buyers, according to REA Forkin in Wicklow.
‘We are seeing increased demand from young Dublin couples in more rural locations like Aughrim and Rathdrum,’ said Karl Tracey of REA Forkin, Wicklow town, where prices are averaging €315,000, an increase of 3.3 per cent.
‘Working from home has become a big influence on location and almost all of our prospective rural purchasers mention working from home for three days a week. Things are very buoyant in north-east Wicklow, where the average price is €320,000 (+3.3%). There are price rises due to new developments in the area, particularly at the high-end,’ he said.
The survey indicated that three-bed properties in Greystones are selling for an average of €400,000 while there is heavy demand in Bray where the average price has increased by two per cent to €355,000.
REA Murphy based in Baltinglass and Blessington, is reporting that the market in the area has remained static in the past three months at €290,000.
‘The market appears to be settling, with buyers less likely to make an immediate offer,’ said Simon Murphy of REA Murphy in west Wicklow.
The average semi-detached house nationally now costs €232,441, the Q2 REA Average House Price Survey has found – a rise of 1.5 per cent on the Q1 2018 figure of €229,111.
Overall, the average house price across the country rose by eight per cent over the past 12 months – indicating that the market is continuing to steady after an 11.3 per cent overall rise in 2017. IT’S been a busy few weeks for the Wicklow branch of Network Ireland, with both its annual Businesswoman of the Year awards and an GDPR information meeting taking place recently.
The information meeting took place in AIB Wicklow in order to share practical information about the legislation itself, the financial aspect and how to manage technology in the office. Speakers included Carmel Mulligan of Laztech IT Services, Jean Evans from Highline and Sharon Nealon of AIB.
Last month, the Wicklow branch held its annual Business Woman of the Year Awards in Brooklodge where local business women were acknowledged for their hard work and dedication across six categories.
Now, the six winners – Rebecca Allen from The Farm Shop in Tinahely (Small Business); Carmel Mulligan of Laztech IT Services (Large SME); Christina Clarkin of The Marketing Lounge in Bray (Emerging New Business); Lindsay Malone, Manager for the Faculty of Lifelong Learning at Carlow IT (Employee); Anna Dobson of Love Mo Chuisle (Arts); and Muireann Fitzmaurice of MarketingCoach.ie. (Best Use of Digital) – will go on to the Network Ireland national awards on September 14 in Galway.