Average three-bed semi in Tipperary has risen to over €234,000 in the last three months

The price of the average secondhand three-bed semi in Tipperary has increased to €234,375, up 4.2% from €225,000 in three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell has increased by one week to an average of five weeks, the Q3 REA Average House Price Index shows.

The survey shows that 68% of purchasers were first-time buyers, and 13% of purchasers were from outside of the county. A total of 36% of sales in the county this quarter were attributed to landlords leaving the market.

Average prices in Roscrea increased 5.4% to €195,000, with time to sell increasing by one week to an average of six weeks.

“Roscrea town is still very much a local market, and there has been no new developments constructed here in 15 years,” said Seamus Browne of REA Seamus Browne, Roscrea.

Average prices in Newport increased 8.7% to €250,000, with time on the market in the area currently averaging at four weeks.

“Supply is a major issue, although currently there are not as many customers in the market,” said James Lee of REA John Lee, Newport.

Nenagh prices increased by 1% to €247,500, with time to sell increasing by one week this quarter to an average of four.

“The market for July and August was very quiet in general as many purchasers were taking extended summer holidays,” said Eoin Dillon of REA Eoin Dillon Nenagh.

“There were virtually no three-bed semis available for sale in quarter 3, with only one listed on websites as of September 5.

“We would expect that if one were available then it would be snapped up very fast,” he said.

In Clonmel, average prices increased 2.1% to €245,000, with time to sell increasing by one week to four weeks.

The REA Average House Price Index concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an accurate picture of the secondhand property market in towns and cities.