Average price of house sold in the first half of 2019 rises by 4%
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The average price of a house sold in the first half of 2019 has risen by 4% nationally.
But, despite the overall increase, prices in Cork, Dublin, Galway and Wicklow have fallen.
Analysis of the Property Price Register by property search engine, Perfect Property, shows that prices for properties sold in the majority of counties increased in the first half of 2019 in contrast with the first half of 2018.
Longford was the county with the highest increase in average sold property price, increasing by 26% in the first half of the year.
Kerry (23%), Roscommon (13%), Donegal (12%) were the next highest, with Cavan (11%), Carlow, Laois, and Waterford (all 9%) also seeing sizable increases.
Just four counties saw a decrease in house prices in the first half of 2019. Cork and Galway saw the largest fall, with prices decreasing by 7% in both counties.
Wicklow, down 5%, and Dublin, down 4%, also saw a decrease.
However, estate agents have noted in recent weeks that the second half of the year could see a flurry of activity as new home completions increase.
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Dublin still remains the most expensive part of the country to buy by a significant margin. The average price of a house sold in the first half of the year was €445,120.
Wicklow is the second most expensive market, with prices averaging €318,803, with Kildare (€284,016) and Meath (€270,956) also at the top of the market.
Outside the Dublin commuter region, Cork is the most expensive county to buy a property, with prices averaging €265,162 in the first half of the year, down from €286,441 in the first half of 2018.
In its analysis, Perfect Property found that in the second quarter of the year, sales in more than 50% of counties are exceeding asking prices.
Overall, achieved sale prices were 7% higher than listing price nationally, with buyers in Sligo spending an average of 11% more than the asking price to secure their home. Buyers in Wexford (10%), Cork, Kildare and Leitrim (all 8%) are also paying above the asking price in many cases.
And, while Dublin saw an overall price drop, home sellers are still seeing their properties sell 6% higher than what they’re asking.
Laura Pollard, managing director of Perfect Property, said: “Reviewing achieved sold prices nationally is key to understanding the true state of the market. While the country is up by 4% as a whole from this time last year, this spurt of growth has not been experienced in all areas, with Cork, Galway, Wicklow and Dublin showing a decrease in sold prices.
Comparing this to the original listing price provides additional insight, showing that in many areas the achieved sale price is still higher than the original listing price."