Here is where Tipperary house prices stand in an 'unusual' Daft.ie report

Residential property prices in Tipperary have come down slightly this quarter, according to a new report from Daft.ie.

The Daft.ie House Price Report for quarter one of 2023 showed the average price in the Premier County was €222,487, down from €224,984 last quarter.

That represents a change quarter on quarter of -0.1% and up 2% from this time last year.

According to Associate Professor in Economics Trinity College Dublin Ronan Lyons, this quarter's report is 'unusual' in that residential prices do not typically fall in the first quarter of the year.

Nationally, prices dropped .3% in the first quarter of this year.

In the report, Prof Lyons said:

"As I noted in the commentary three months ago, on the face of it, a final-quarter fall in prices was not that unusual.

Just as prices tended to rise in the first quarter, they tended to fall in the last three months of the year, as the sales market wound down ahead of a new calendar year. But sentiment had changed: survey respondents no longer expected strong price growth in the next 12 months (or beyond)."

The Munster region is up, bucking the national trend this quarter.

Average prices rose 0.6% between December 2022 and March 2023 and were up 3% compared to the same period last year.