September 17, 2019
News

Apartment prices soar in Kilkenny, house prices drop: report

By COLIN BARTLEY

APARTMENT prices continue to rise quickly in Kilkenny but houses prices are starting to fall.

Outside of Dublin, Kilkenny County is the sixth most expensive area of the country in which to buy a home.

These figures have been revealed in the latest Residential Property Price Barometer launched by the Institute of Professional Auctioneers & Valuers (IPAV) today.

The report shows the market for apartments in Kilkenny is booming at the moment although the housing market in the county is slowing down noticeably.

According to the IPAV report, the price of a two-bed apartment in Kilkenny has increased by 6.78% in the first six months of the year – exactly €10,000. The average price is now €157,5000.

Cork City (not county), Kildare, Galway City (not county), Wicklow and Meath are the only areas where apartments are more expensive than those in Kilkenny.

The increase of €10,000 in the price of an apartment in Kilkenny is also the fifth largest price increase in all the country.

Cork city saw two-bed apartment prices skyrocket by €22,000 in just six months.

Mayo and Wexford recorded increases of around €14,000 per two-bed apartment.

While Waterford, like Kilkenny, saw an average increase per apartment of around €10,000.

Despite the strong performance of the apartment market, the value of three and four-bed houses have fallen slightly in Kilkenny city and county over the first six months of the year.

The report says the average price of a three-bed house in Kilkenny is down 2.15% or €5,000, from €232,500 to €227,500.

A four-bed house now fetches an average of €277,500 in Kilkenny, down from €282,500 – a drop of just 1.77%

Despite these slight drops, only Cork and Galway cities and counties Kildare, Wicklow and Meath record higher average prices for three and four-bed houses than Kilkenny

Across Ireland as a whole, two-bed apartments have seen an average increase of 1.35pc, while there has been a drop of -1.34pc for 3-bed semis and -1.68pc for 4-bed semis.

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