House prices in Waterford city are up 18%, according to the latest report by property website Daft.ie, with the average house price now €134,945.
Across the county, prices between January and March 2016 were 10% higher than a year previously. The average house price is now €183,000, 28% above its lowest point. The largest increase was seen in the price of a three bed semi-detached house and a four bedroom bungalow.
Just under half of all properties in the region find a buyer within four months, up from 38% twelve months ago. The total number of properties for sale at any one time continues to fall.
The divide between Dublin and the rest of the country persists, with prices effectively stable in the capital – rising just 0.9% in the last year – compared to a rise of 9.7% on average outside Dublin. In almost all parts of the country, however, inflation now is less than three months ago.
Report author Ronan Lyons said prices are continuing to rise in the region because the increase in population each month is not being matched by an increase in new homes. Addressing the shortage of supply – in particular the high cost base on construction – must a top priority for the new Government, he added.
