New report shows increase in time taken to sell a house in Kildare

The time taken to sell a house in Kildare has risen from two weeks to an average of four weeks, the Q3 REA Average House Price Index shows.

It was also found that the price of the average second-hand three-bed semi in County Kildare has remained unchanged at €361,250 in the last three months.

The REA said that between July to September, three-bed semis commanded average prices of €390,000 in Maynooth, €380,000 in Celbridge, €365,000 in Naas and €310,000 in Newbridge.

These prices were all unchanged this quarter, and time taken to sell in all four towns rose to four weeks, up by two weeks.

70 per cent of purchasers this quarter were first time buyers, with a half of buyers coming from outside the county.

In addition, the data shows that BER A-rated homes are commanding a 5 per cent premium over their C-rated equivalents.

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NATIONWIDE STATISTICS

Across Ireland, the rate of house price inflation has halved in the past three months as rising costs cause home buyers to be more cautious.

The actual selling price of a three-bedroomed semi-detached house across the country rose by 1.4 per cent over the past three months to €290,630 — representing an annual increase of 10 per cent.

This is a marked slowdown on the 2.9 per cent quarterly increase recorded in the preceding three months, signalling a cooling of the frenetic demand in the marketplace.

And the index found that A rated homes are commanding a 12 per cent premium over their C rated equivalents — a figure that rises to 16 per cent in the capital as running costs become more important to home buyers.

The REA Average House Price Survey concentrates on the actual 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.

Time taken to reach sale agreed rose to five weeks from four as REA agents nationwide reported a less frenzied approach to viewing and buying.

While the actual average selling price of three bedroomed homes in Dublin city is about to breach the €500,000 mark, the 0.8 per cent quarterly rise to €497,500 is half that experienced in the previous three months.

The REA has said that 58 per cent of all purchasers in the past quarter were first-time buyers: a figure which rose to 76 per cent in Dublin.

According to the organisation, this development is the result of people with mortgage approval looking to get on the housing ladder.