LATEST: Second-hand three-bed semi in Newbridge reaches landmark price

The price of the average second-hand three-bed semi in county Kildare rose by 1.1pc to €463,750 in the last three months, according to the latest REA national survey.

Across the county, the average time taken to reach sale agreed was four weeks, the Q1 REA Average House Price Index shows.

The survey shows that across the county, 45pc of purchasers were first-time buyers, while a total of 43pc of sales in the county this quarter were attributed to landlords leaving the market – rising to 60pc in Newbridge.

The average price in Maynooth rose by 1pc this quarter to €485,000, while average Celbridge prices also rose 1pc to an average of €485,000.

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Prices in Naas rose this quarter to an average of €480,000, up 1.1pc, and prices in Newbridge during this period rose 1.3pc to an average of €405,000.

“The lack of supply has dominated the first quarter, with the local market slowing considerably on new listings,” said Brian Farrell of REA Brophy Farrell.

“However, this has increased the demand for all currently listed residences, including those in poor condition, which has also been helped by the changes in grants applicable for such properties. 

“Changes in rental regulations have brought some new properties to the market already, with this expected to increase over the next two months.”

Additionally, the survey found A-rated BER properties in the county are commanding 15pc price increases in comparison to C-rated properties.

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

The actual selling price of a three-bed, semi-detached house across the country rose by 1.5pc in the past three months to €364,747.

This represents a 7.67pc annual rise – slowing gradually from the 9pc increase registered six months ago.

With energy prices coming into focus, agents are reporting that there is a renewed focus on heating costs, with the A-rated v C-rated BER price premium rising to 13pc, up from 10pc at the end of December.

Actual selling prices in Dublin city rose by 1.6pc in the last three months, with the average three-bed semi in the capital’s postcode areas now selling at €595,453, a 6.6pc annual rise.

The percentage of first-time buyers purchasing in Dublin has dropped from 50pc to 39pc in the past six months, with agents citing a wait-and-see policy from buyers around the changes in rental legislation.

Selling prices in Ireland’s major cities outside Dublin rose by 1.2pc to an average of €378,250 – a 6.5pc annual increase, with homes selling in four weeks on average.

Homes in the country’s large towns rose by 2pc this quarter and 9pc annually to an average of €281,287, while prices in commuter counties rose by 1pc to €377,185.