Daft.ie reports increase of average home prices in Limerick
PRICES for homes in Limerick were 4% higher in the third quarter of the year, new figures have revealed.
In its latest housing report, Daft.ie said that Limerick listed prices rose by an average of 4% between June and September. The average price of a home in the city is now estimated at €262,499.
When it comes to Co Limerick, prices in the third quarter of 2023 were 7% higher than a year previously, compared to a rise of 7% seen a year ago. And the average price of a home is now €251,517.
According to the property website, the supply in the Munster area was down 19%, compared to a year before, as roughly 3,300 properties were on the market on September 1.
Author of the report and economist, Ronan Lyons, explained: "Prices continue to rise – albeit at a slower rate than has become common over the last decade. That is the key takeaway from this latest Daft Report. Having been largely static in the second half of 2022, and again in the first three months of this year, prices have risen since then."
Commenting on the report, he added: "The availability of homes is down over 20% year-on-year, at levels of availability only previously seen during the pandemic. While the flow of properties coming on to the market has fallen, it is down only slightly comparing the last year with the previous 12-month period. With supply only down slightly but availability down a lot, demand is holding up far better than might have been expected given the rise in interest rates."