Property prices in Kildare jump by €10k in 2018
Property prices in Kildare have risen by €10,000 in the last year, according to the latest MyHome.ie Property Report in association with Davy.
The report for Q4 2018 shows that the median asking price for a property in the county now stands at €250,000.
While this was unchanged from the previous quarter, it is a 4.2% increase on this time last year when they stood at €240,000.
Overall property prices in the county haven’t been higher since they stood at €260,000 in Q1 2011.
The rise in prices was reflected in the asking price for a 3-bed semi-detached house in the county, which is also unchanged from the previous quarter but is up 4.8% on this time last year from €210,000 to €220,000.
Prices for this house type remain at their highest level in exactly seven years since they stood at €230,000 in Q3 2010.
The asking price for a 4-bed semi-detached house in Kildare rose by 1.8% in the last quarter from €280,000 to €285,000.
This is up 3.6% on 12 months ago when prices stood at €275K.
Prices for this house type are now at their highest level in eight years since they stood at €288,000 in Q3 2010.
The number of properties for sale in Kildare on MyHome.ie fell 2.9% in the last quarter but was up 9.5% on this time last year.
The average time to go sale agreed on a property in the county now stands three months.
House prices nationally are expected to rise by around 5% in 2019 after slowing sharply in Q3 and stabilising in the last quarter of 2018 according to the latest house price report from MyHome.ie.
The report, which is published in association with Davy, predicts that robust demand and rising incomes will continue to push house prices higher once the uncertainty of Brexit has been resolved.
While asking prices nationally fell back by 0.9% and were unchanged in Dublin in Q4 – as per normal seasonal trends - the annual rate of inflation nationally was 6.1% while it was 3% in Dublin.
This means the median asking price for new sales nationally is €266K down €2K from the last quarter while the price in Dublin remains unchanged at €375K. Newly listed properties are seen as the most reliable indicator of future price movements.
The author of the report, Conall MacCoille, Chief Economist at Davy, said the overall picture is that the recent slowdown has evened out, housing supply is slowly picking up - even if it remains well short of demand - and liquidity is slowly improving off a low base.
“Predictions that the Dublin market would contract have proved wide of the mark, perhaps because too much attention has been paid to more expensive property types and areas. Suggestions that the tightening of the Central Bank lending rules would cause the market to stagnate have also proved to be well wide of the mark.”