Limerick city house prices increase in the last three months

LIMERICK city house prices have increased in the last three months according to a national survey by Real Estate Alliance.

The price of the average second-hand three-bed semi in Limerick city has increased to €285,000, up 1.8% from €280,000 since June.

The city has seen 65% of sales directly linked to landlords exiting the market, according to Pat Dooley of REA Dooley, who predicts that the extension of the rent pressure zones to the whole county will result in a larger supply of ex-rental housing coming to market.

Across the county, the average time taken to sell in Limerick city is currently three weeks, and in the county the average is currently four weeks.

The survey also shows that across both the city and county 75% of purchasers were first-time buyers with 25% in the city were from buyers outside of the county.