House prices continued to rise in late summer despite the impact of inflation and higher interest rates, according to a new survey.
According to a housing market report by Valuemyhome – which measures the prices at which homes are selling – homes sold for an average of 9.5 percent more in the third quarter of the year than in the same quarter last year.
The average selling price for a home in Ireland was €301,000 in the third quarter, up €26,000 on the same period last year.
However, the market cooled off slightly in the final six weeks of the quarter, which saw 15,676 units sold.
That represents an increase in units sold of just 2.7 percent over the same period in 2021.
Dublin saw the highest number of home sales – with 4,878 units sold, it accounted for just under a third (31 percent) of all home sales across the country.
This is despite the fact that Dublin was the most expensive place to buy a house in Ireland with a median house price of €435,000, closely followed by Co Wicklow at €399,000.
Neighboring counties Kildare and Meath were the second most expensive, with average prices of €365,000 and €323,000 respectively.
Co Roscommon was the cheapest place to buy a home with an average price of €140,000.
In Dublin, 858 newly built homes came on stream in the third quarter, but new homes accounted for just 17.6 percent of all home sales during the period.
Cork had the second highest number of house sales with 1,556, accounting for 10 per cent of all sales in Ireland, followed by Co Kildare in third place with 941 houses sold.
Leitrim had the lowest number of homes sold at just 101, while Co Monaghan saw the highest percentage price increase, rising 12 percent to €195,000 in the third quarter.
House prices rose between the second and third quarters in all counties except Kilkenny, Clare, Louth, Offaly, Roscommon and Wicklow.
https://www.independent.ie/business/personal-finance/property-mortgages/how-much-is-your-house-worth/homes-sold-for-95pc-more-than-last-year-in-late-summer-despite-cost-of-living-crisis-42135753.html Despite the cost of living crisis, houses were sold in late summer for 9.5 percent more than in the previous year