1. Thepriceofanaveragethree-bedsemiinIrishtownsandcitiesrose
by17.59%inthefirstninemonthsoftheyear,accordingtoanational
surveycarriedoutbyRealEstateAlliance.
The Real Estate Alliance Average house index concentrates on Ireland’s typical
stock home, the three-bed semi, giving a picture of the property market in
towns and cities countrywide.
Price increases in the commuter areas around Dublin are continuing to outstrip
those in the capital as first-time buyers chase bargains priced at almost half of
those in the metropolitan area.
Three-bed semis have seen a rise of 21.59% across the country over the past
12 months, while prices in Dublin city rose by 24.24% over the same period of
time.
The average price of a three-bed semi is now 179,981 nationally including
Dublin, an increase of 26,925 (17.59%) on the Dec 13 figure of 153,056.
And the average house has risen by 9,907 since the end of June, rising 5.83%
in value across the country.
In Dublin city, the average three-bed semi has risen by 27,500 over the past
three months to 375,833, an increase of 20.59% on the December figure of
311,667 and a 7.89% rise
over the June figure of
348,333.
“Prices are continuing to
rise at a pace in Dublin, but
our agents are reporting
that the panic buying
seems have gone out of the
market, with less people at
viewings and houses taking
a week longer on average
to sell,”said REA CEO Philip Farrell.
“The three-tier market that REA surveys have identified is still continuing,
with the commuter areas out side Dublin, and larger urban areas such as
Galway and Cork growing at twice the rate in the first nine months (21.88%)
than the rest of the country at 11.47%.”
In Dublin, the market shows no signs of dropping off, with prices increasing by
almost 8% in the last three months, after rising by 12% in the first half of the
year.
The average three-bed started off the year at 311,667 and now costs 375,833.
PhilipFarrell,CEOREA
REAAverageHouseIndexSeptember2014
Priceofa3-bedsemi
Rest of
Country
Dublin
City only
Average
(including
Dublin)
Commuter
counties *
*CommutercountiesLouth,Meath,Kildare,Wicklow,Carlow,LaoisplusCork,Galway
EndDecember‘13
EndJune‘14
EndSept‘14
153,056
170,074
179,981
311,667
348,333
375,833
157,824
182,353
192,353
96,793
102,897
107,897
September‘14versusJune’14
%Variable
June‘14versusDecember’13
+17.59%
+5.83
+7.89%
+20.59%
+21.88%
+5.48%
+11.47%
+4.86%
Buyers:%CashversusMortgage
Rest of
Country
Dublin
City only
Average
(including
Dublin)
Commuter
counties *
*CommutercountiesLouth,Meath,Kildare,Wicklow,Carlow,LaoisplusCork,Galway
EndDecember‘13
EndJune‘14
EndSept‘14
66%
53%
50%
65%
51%
43%
62%
45%
38%
70%
59% 59%
September‘14versusJune’14
%Variable
September‘14versusDecember’13
-5.43%
-24.37%
-15.49%
-34.07%
-15.56%
-38.48%
-15.51%
-0.8%

2. Both South Dublin and Lucan recorded rises of 15.38% over the past three
months alone, with houses in the west Dublin town rising by 40,000 to
300,000 in 12 weeks.
REA agents in Lucan are reporting that the market appears to go through a
frantic two or three weeks, before slowing down and spiking again.
The average property is now taking just seven weeks to sell nationwide, on
average over 41% quicker than six months ago.
However, Dublin has seen an increase in time to sell, with houses now taking
five weeks on average to close, up from four in June.
“Our agents are reporting that there are more private houses now for sale,
which is giving the discerning purchaser a better choice and as a result there
is not the same amount of bidders as there were in the first six months of the
year,”said Philip Farrell.
There has been a sharp rise in the amount of private homes for sale nationally,
with the percentage of distressed properties on the market dropping for the
first time in the life of the survey.
Just 37% of properties on the market are now distressed, down from a yearly
high of 45% in June.
There is further evidence that the banks are financing house buyers to a
greater extent with the amount of cash transactions dropping from an average
of 66% in December 13 to 50% in September 2014.
Real Estate Alliance (REA) is Ireland’s leading property group of Chartered
Surveyors with over 50 branches nationwide, comprising many of the
country’s longest-established auctioneers and estate agents.
PhilipFarrell,CEORealEstateAlliance
0862503515/philip@realestatealliance.ie
Mediainformation:
DarrenHughes,MediaConsult0862937037/darren@mediaconsult.ie
%increases in3-bedsemiprices
countybycounty
(Sept‘14versusDec’13)
Wicklow
Wexford
Westmeath
Waterford
Tipperary
Sligo
Roscommon
Offaly
Monaghan
Meath
Mayo
Louth
Longford
Limerick
Leitrim
Laois
Kilkenny
Kildare
Kerry
Galway City
Galway
Dublin City
South Co Dublin
North Co Dublin
Donegal
Cork City
Cork County
Clare
Cavan
Carlow
REAAverageHouseIndex
September2014
Timetakentosell-Weeks
REAAverageHouseIndex
September2014
Rest of
Country
Dublin
City only
Average
(including
Dublin)
Commuter
counties *
*CommutercountiesLouth,Meath,Kildare,Wicklow,Carlow,LaoisplusCork,Galway
EndDecember‘13
EndJune‘14
EndSept‘14
13
9
7
8
4
5
11
6 6
15
11
9.5
September‘14versusDecember’13
%Variable
September‘14versusJune’14-14.04%
-41.30% -40.00%
13.79%
-5.68%
-45.96%
-15.82%
-37.26%