New report finds Limerick house prices rose by €20,000 in last year

Maria Flannery

Reporter:

Maria Flannery

Average asking prices for three-bed semi-detached houses have risen in Limerick to over €180,000 – an increase of 14.4 percent since the same time last year

Average asking prices for three-bed semi-detached houses have risen in Limerick to over €180,000 – an increase of 14.4 percent since the same time last year

PROPERTY prices in Limerick have risen by over €20,000 in the last year, according to a new report by MyHome.ie and Davy.

The report for the second quarter of 2018, March to June, shows that the median asking price for a Limerick property now stands at €180,000.

This is up €20,000 – or 12.5 percent – from the previous quarter. It is also up 12.8 percent from this time last year, when the median asking price was €159,500.

This represents an increase of €20,450 year-on-year, with prices in Limerick now at their highest level in over six years – since they stood at €185,000 in the second quarter of 2012.

The rise in prices has been reflected in the asking prices of a three-bed semi-detached house, which is seen as the typical stock home.

This rose by 1.4 percent this quarter, from €179,950 to €182,500 – but it also reflected an increase of 14.4 percent year-on-year from 12 months ago, when the price was €159,500.

Asking prices for this house type in Limerick are at their highest level since Q3 of 2010.

Meanwhile, the average asking price for a 4-bed semi-detached house in Limerick now stands at €225,000. This is up €12,500 – or 5.9 percent – from the previous quarter. It’s an increase of 13.9 percent from the same stage last year, when the price of a four-bed semi was €197,500.

The number of properties for sale in Limerick on MyHome.ie has increased by 5.4 percent in the last quarter, but a lack of housing stock remains – there are still 1.8 percent less properties for sale than this time last year.

Meanwhile, the latest Daft.ie report showed that in Limerick city, prices in the second three months of 2018 were 7 percent higher than a year previously. It’s a slow-down in growth: last year recorded an increase of 15 percent.