Roscommon House Price Survey June 2021

The price of the average three-bed second-hand semi in County Roscommon has risen to €151,000 this quarter, according to a national survey by Real Estate Alliance.

Across the county, prices rose 0.7% from €150,000 over the past three months, and the average time taken to sell during this period was unchanged at four weeks, the REA Average House Price Index shows.

Average prices in Roscommon town during this period rose 1.2% to €172,000, with Castlerea prices remaining steady at €130,000.

“The demand for three-bed semi-detached second-hand houses in Castlerea is strong, with no major changes to prices,” said Seamus Carthy of REA Seamus Carthy.

“Having said that, we are seeing that the real demand in the area lies in four-bed detached houses for family homes, with prices rising in excess of 10% this quarter.”

Average house prices have risen by almost €1,000 per week nationwide since the end of March, the REA Average House Price Survey has found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

Fuelled by pent-up demand and the return of physical viewing, the marketplace is also seeing the lowest supply and the shortest time taken to sell in recent history.

And as multiple buyers bid for scarce supplies, the average three bed semi is now reaching sale agreed after just four weeks on the market across the country – less than half the ten-week average this time last year.

The price of a three-bedroomed semi-detached house across the country rose by €10,000 over the past three months to €253,685 – representing an annual increase of 8%.

The biggest rises in Q2 came in commuter counties and the country’s large towns as buyers continue to move out further from the city in preparation for long-term hybrid working situations.

In Dublin city, house prices rose by €1,500 per week in Q2, increasing from €438,500 in March to a present rate of €456,667.

Cork, Limerick, Galway and Waterford cities shared a combined increase of 3.5% in the past 12 weeks with prices rising by €10,000 to an average of €275,000.

Three bed semis in commuter counties rose 4.33% by over €11,000 in the past three months to an average of €270,111 – with the average home selling in just three weeks, down from a high of 11 weeks a year ago.

As the flight to rural locations continues, prices in the rest of the country’s towns rose by over 4.6% in Q2 to €176,690.