The price of the average three-bed semi in Cork City rose by 2.4 percent in the last 12 months.

A national survey carried out by Real Estate Alliance showed a year-on-year increase, although prices remained stable at €317,500 between June and September.

First time buyers

“Demand is still strong. The market is stable despite a bit of a slow-down in the summer,” said Michael O’Donoghue of REA O’Donoghue and Clarke.

“However, first-time buyers’ assistance really should be extended to second-hand homes.

“The first-time buyers’ grant is pushing young families out of the city, away from amenities and driving traffic congestion.”

The price of the average three-bed semi in County Cork rose by 4.7% to €166,000 between June and September, the survey found.

The average semi-detached house nationally now costs €234,824.

Overall, the average house price across the country rose by 5.8 percent over the past 12 months – a decrease on the eight percent recorded to June and indicating that the market is continuing to steady after an 11.3 percent overall rise in 2017.

If you think things are heating up in Cork, spare a thought for our Dublin neighbours; after rising by 12.5 percent in 2017, the average price of a second-hand semi-detached house in the capital has increased by €5,300 so far this year and now stands at €443,333.