Kilkenny House Price Survey January 2024

The price of the average second-hand three-bed semi in Kilkenny city is predicted to decrease by 5pc in 2024, with prices across the county expected to fall by 1pc, according to a national survey by Real Estate Alliance.

Three-bed semi-detached homes in the county now cost an average of €280,000, up 7pc on the December 2022 average of €262,500, the Q4 REA Average House Price Index shows.

County agents reported that first time buyers made up 45pc of the market in Q4, with 13pc of sales coming from outside the county, and 18pc of sales attributed to landlords selling properties.

By the end of 2023, the price of the average three-bed semi in Kilkenny city rose by 9.7% to €340,000, while agents in Callan reported an annual increase of 2.3% to €220,000.

“We are currently seeing a market which is relatively stable when it comes to this type of property,” said Michael Boyd of REA Boyd’s, Kilkenny.

“I expect that the start of 2024 will be similar to last year and quite steady.

“Interest rates have affected the market, but they may reduce in the first quarter of 2024.

“We are also seeing landlords continue to leave the market.”

The REA Average House Price Index 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.

Three-bed semi prices nationally will rise by 3pc in 2024, estate agents across the country are predicting.

A record shortage of supply has driven a 1.5pc rise in the last three months in the capital, but only in houses under a certain price, the index found.

House prices in Dublin and the other cities outpaced Ireland’s large towns and commuter counties as mortgage approved buyers chase properties within their price ceiling.

The actual selling price of a three-bed, semi-detached house across the country rose by 1pc in the final quarter of 2023 to €304,259 – representing an annual increase of 4.3pc.

Time taken to reach sale agreed nationally is steady at five weeks as low supply continues to drive sales in an increasing interest rate environment.

Prices in Dublin city rose by 1.5pc in the last three months, meaning that the average three-bed semi in the capital is now selling at €511,667 – an increase of 3pc in the last year.

Mortgage-approved first-time buyers are still the main market drivers, with 59pc of sales nationally – a figure that rises dramatically to over 80pc in commuter counties as they hunt suitably priced properties.

Cities outside Dublin experienced a 1.73pc rise in the past three months to an average selling price of €323,000 – with the annual rate of increase of 4.5pc.

Homes in the commuter belt showed the most stability in 2023, rising by just 2.2pc to €319,722, with counties within travelling distance of the capital recording growth of just 0.2pc in the past three months.

The biggest annual rise came in large towns nationwide, which rose by 6.6pc annually and 1.2pc in the quarter to €223,638.