Offaly House Price Survey September 2024

The price of the average second-hand three-bed semi in county Offaly has increased to €260,000, up 8.3pc from €240,000 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell in the past three months currently sits at five weeks, the Q3 REA Average House Price Index shows.

Three-bed semis in Offaly saw their second €20,000 quarterly increase, with REA Hynes noting a quick turnaround of properties which are exceeding asking prices.

Tullamore joins other large towns around the country such as Tralee, Ennis and Athlone which have experienced average increases of €20,000 in the past three months.

The survey shows that across the county, 75pc of purchasers were first-time buyers and 10pc of purchasers were from outside of the county.

A total of 15pc of sales in the county this quarter were attributed to landlords leaving the market.

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 2.7pc in the past three months to €323,741.

Time taken to reach sale agreed nationally has dropped to four weeks as low supply continues to drive sales.

A supply drought in Dublin has reignited the commuter property market as buyers battle to secure affordable family homes, the Index has found.

Frustration in the capital has led to the return of the previously unheated commuter market, which has risen by 2.9pc over the past three months to an average of €336,944.

Actual selling prices in Dublin city rose by 1.3pc in the last three months, and the average three-bed semi in the capital is now selling at €532,333 – an annual increase of 7.4pc.

The number of sales in the capital due to landlords leaving the market has risen six points to 24pc in the past year, the Index revealed, but some areas are reporting a figure of over 50pc.

Prices in the major cities outside the capital rose by an average of 2.25pc to €341,250 in the last three months – an annual rate of increase of 7.5pc.

Homes in the country’s large towns continue to show the biggest growth nationwide, up 10pc on last September and 3.6pc this quarter to an average of €243,241.