Asking prices for Waterford city properties have risen – albeit marginally – during the third quarter of the year.

This reflects a sentiment expressed in the latest ESRI/Permanent TSB House Price Index, which indicates a slight increase in house prices outside of Dublin, while prices in the capital dipped during September.

The latest House Price Report, published last week, revealed that asking prices in the city recorded a 0.3 per cent increase on the previous quarter and a year-on-year increase of 4.7 per cent.

The average asking price in the city currently stands at €267,911, with the ESRI index, published yesterday (Thursday) stating that the average price for a house nationally in September stood at €299,483.

Incidentally, the average national price in September 2006 was €308,179, so Waterford city is slightly bucking the national trend in this respect.

The report also shows that prices in Galway and Limerick cities dropped during the third quarter, by 2.3 per cent and 1.3 per cent respectively.

Prices outside Dublin during September rose by 0.1 per cent, with the average price paid for a house ‘beyond the Pale’ during the ESRI-surveyed period standing at €257,372.

Using a three-bed house as an example, the report for the third quarter stated that such a city-located property was commanding an asking price of €253,000.

The latest ESRI/Permanent TSB figures show that the average price of the same sized property nationally fetched €302,982 in September.

“The data for September confirms the trend of a modest decline in the overall property market,” according to Permanent TSB’s Niall O’Grady.

“However the picture in September does reveal inconsistencies across the market, for example there was modest increases in three bedroom semi-detached properties and no change in the price of new homes.”

He continued: “Anecdotally, there is some evidence that the prices of both are being supported by developers, including things like add-ons in terms of fit-out, improving the value to potential buyers.”

Incidentally, four-bed and five-bed properties during the third quarter (according to carried asking prices of €371,000 and €387,000 respectively.