October 17, 2019
News Property

Price of houses in Kilkenny soars by €20,000 in just three months

By COLIN BARTLEY

THE AVERAGE price of a four-bed house in Kilkenny has jumped by €20,000 in just three months.

These stunning figures are from the latest house price report from MyHome.ie examining the national housing market for Q2, 2019.

The report shows that a typical family three-bedroom semi-detached in Kilkenny cost €10,000 more in Q2, 2019 than in Q1, and nearly €15,000 more than the same time last year.

The current average price of €185,000 for a three-bed-house in Kilkenny is the highest the price has been since MyHome.ie started publishing these reports in 2011.

The report shows the average price of a four-bed house has returned to the highest price recorded since 2011  – €235,000, the same as it reached in Q2, 2018.

The apartment market in Kilkenny remains stagnant however, with prices increasing just €2,000 year-on-year.

Despite house asking prices falling nationwide to its lowest level in five years, the market appears to be heating up in Kilkenny.

The national figures are being dragged under by the slow down in the Dublin market, which has entered negative territory for the first time since 2013.

The report was positive for rural Ireland and found that outside of Dublin there was stronger growth, with prices increasing by €7,000 on the quarter, and by just over €10,000 year-on-year.

Kilkenny’s figures were stronger than this again.

The author of the report, Conall MacCoille, Chief Economist at Davy, said: “Ireland’s economy continues to perform well and the property market will continue to be underpinned by high employment and wage growth. While the economy has been driven by strong foreign direct investment, export growth and a slow rebound among indigenous companies, the recovery in homebuilding is still in its infancy.”

Reacting to the fact that the housing market is seeing more transactions, more properties on the market and more sustainable price increases, Angela Keegan, Managing Director of MyHome.ie, said: “The environment for buyers is becoming much more favourable, with 22,600 homes listed for sale in June 2019 on MyHome, up 4.5% on the same period of 2018.”

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