It’s a €5,000 increase.
The price of the average three-bed semi in Cork City rose by 1.6 percent to €315,000 in the first three months of the year
Cork City prices increased by 3.3 percent in the last 12 months, according to a national survey carried out by Real Estate Alliance.
The REA Average House Price Survey concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an up-to-date picture of the property market in towns and cities countrywide to the close of last week.
“We see steady interest, but there is still a limited supply of three-bed semis in popular, mature residential areas,” said Michael O’Donoghue of REA O’Donoghue Clarke, Cork.
“The Help to Buy Scheme is having an effect in relation to first time buyers in the new homes sector. This should see an increase in construction to cater for demand.
Mr O’Donoghue suggested it may be time to review the scheme to make it available to first time buyers for the purchase of second-hand properties.
“However, difficulties will remain for the second-hand purchaser in relation to the 20 percent deposit requirement for the purchase of properties over €220,000,” he added.
The average semi-detached house nationally now costs €229,111 – a rise of 1.5 percent on the figure of €225,806 at the end of 2017.