- Sold prices take a fall in Cork, Galway, Wicklow and Dublin, while Longford and Kerry, in particular, see significant increases
- More than 50% of counties are still achieving a higher sale price than the original asking price
The average ‘sold price’ for houses across the country for the first half of 2019 has increased by 4% when compared to the same period last year, according to new research by Perfect Property, Ireland’s innovative property search engine.
An analysis of the Property Price Register conducted by Perfect Property shows that the majority of counties saw the average ‘sold price’ of a house increase between H1 2018 and H2 2019, while only four experienced a decline in prices.
The counties with the highest increase of average sold property prices included Longford (26%), Kerry (23%), Roscommon (13%), Donegal (12%), and Cavan (11%), followed by Carlow, Laois, and Waterford all coming in at 9%, respectively.
However, just four counties saw prices drop. Cork and Galway showed a decrease of -7%, followed by Wicklow with -5% and Dublin with -4%.
Asking Price versus Sale Price
Perfect Property analysed these figures against listing prices and found that in Q2 2019, more than 50% of counties are still achieving a higher sold price. Overall, achieved sale prices were 7% higher than listing prices nationally. The biggest difference between the two was witnessed in Sligo (11%) and Wexford (10%), followed by Cork, Kildare and Leitrim (all 8%).
This is a decrease from Q1 2019 which saw homes selling for 12% higher than the asking price however, still a positive indication of the overall market where homes aren’t being discounted in order to sell.
Whilst Dublin saw an overall price drop, home sellers are still seeing their properties sell 6% higher than what they’re asking.
This research was carried out by search platform Perfect Property, which features properties from a range of estate agents including REA, Knight Frank, REMAX and Sotheby’s. Currently the average value of property uploaded to the website every day is €20.3m, with new properties worth €142m added every week. The platform has a wide range of user-friendly features, meaning it is fast becoming the property search portal of choice for home buyers and sellers, as well as those seeking a new rental property.
Commenting on the recent figures, Laura Pollard, Managing Director of Perfect Property, said:
“Reviewing achieved sold prices nationally, is key to understanding the true state of the market. Our research shows a very dynamic housing market across Ireland, with considerable regional variation in sold prices. While the country is up by 4% as whole from this time last year, this spurt of growth has not been experienced in all areas, with Cork, Galway, Wicklow and Dublin showing a decrease in sold prices. Comparing this to the original listing price provides additional insight, showing that in many areas the achieved sale price is still higher than the original listing price.”
H1 2018 – H1 2019
Majority of counties saw an average sold price increase however 3 key property markets declined: Dublin, Cork and Galway.
|County||H1 2018||H1 2019||Change (%)|