New report shows year-on-year reduction in County Limerick house prices
AVERAGE house prices in County Limerick fell slightly over the past year, new figures have revealed.
However, according to the latest Daft.ie House Price report, prices in the Limerick city and its environs increased by 1.1% during the second quarter of 2023 compared to the same period in 2022.
The report, published this Monday shows the average asking price for a house in the city over the past three months was €253,581 compared to €233,649 for a house outside of the city.
For houses in the city, the latest figures represent a 4.8% increase compared to January, February and March while the quarter-on-quarter increase for houses in the county area was 4.4%.
According to report, the asking price for a three-bed semi-detached in Limerick city is now €220,000 while a similar property in County Limerick costs an average of €155,000.
A one-bedroom apartment in the city costs and average of €121,000 while the average cost in the county is €92,000.
Commenting on the latest Daft.ie House Price Report, Ronan Lyons, economist at Trinity College Dublin and author of the report, says there is still some uncertainty in the market.
"Whether the latest quarterly figure represents a temporary bounce, after three weak quarters, or a resumption of strong upward pressure, remains to be seen. The labour market is incredibly strong, which translates into strong demand. But with higher interest rates, the gap between underlying demand and effective demand grows. We shall wait and see."