Mixed results in survey of Limerick house prices

Nick Rabbitts

Reporter:

Nick Rabbitts

Data released by property web site www.daft.ie have shown house prices in Limerick were 1% higher for the first three months of 2015 than they were for the first three months of 2014
HOUSE prices in Limerick City have shown both rises and falls in a new survey.

HOUSE prices in Limerick City have shown both rises and falls in a new survey.

Data released by property web site www.daft.ie have shown house prices in Limerick were 1% higher for the first three months of 2015 than they were for the first three months of 2014.

The average house price in the city is now 7% higher than its lowest point.

The house price report shows that while other cities are recording mainly rises in house prices, Limerick’s market rate still appears to be falling.

The one exception to this is the price of a one-bedroom apartment in the city bounds.

Perhaps reflecting their scarcity in the market place, the average asking price here has risen by 3.2% to €61,000.

However, a two-bedroomed terrace house price has fallen by 5.9% to an average price of €68,000.

The average price of a three bedroom semi-detached is €109,000, down 6.4%, while a four-bedroom bungalow on average has fallen by 13% to €174,000.

A five-bedroom detached house will set you back €234,000 on average here, a fall of 1.8%.

In the rest of Limerick, prices in the first three months of 2015 were 4% higher than a year previously, compared to a fall of 9% seen a year ago.

The average house price is now €146,000, 7% above its lowest point.

Smaller units have seen a decrease in asking price, however, with one and two bed houses, plus three bed semi-detatched units falling by between 2% and 5%

But the average asking price of a five bedroom detached property is up by 6% to €205,000.

And a four-bedroom bungalow is on average now €179,000, a rise of 2.4% from this time last year.

Commenting on the figures, report author Ronan Lyons said: “The fact that house prices vary across the country by far more than incomes do means demand should reshuffle from Dublin to elsewhere in the country.”

Dublin recorded the highest prices in the country.