Median House Prices In Kildare Up Almost 9% On The First Quarter Of This Year

Friday, 24 June 2022 10:22

By Caoimhe Harney

Annual asking price inflation outside of Dublin stands at 12.7%, a report has found.

The median house price in Kildare rose by almost 9% in quarter 2 of 2022, according to the latest report by MyHome.ie.

The median price for a three bed semi- detached house in Kildare now stands at €249, 475.

The Q2 2022 report, in association with Davy, found that annual asking price inflation slowed to 10.9% nationwide, and was 7.9% in Dublin and 12.7% elsewhere around the country.

Meanwhile, the report found quarterly asking price inflation was 5.3% nationally, 3.4% in Dublin, and 6.1% elsewhere around the country .

It paints the picture of regional asking prices fuelling the headline figure and this substantial rise in the quarterly rate is not unusual ahead of the busy summer trading season.

This means the median asking price for new instructions nationally is now €320,000, while the price in Dublin is €403,000 and elsewhere around the country it is €270,000.

The report found continued evidence of vendors returning to the market with the number of available properties for sale on MyHome.ie rising to 12,700 in June 2022 – up from 11,200 in March.

The average time to sale agreed in Q1 fell to 2.6 months (and 2.9 months outside Dublin), both record lows which are indicative of a very tight housing market, the author of the report has said..

The average mortgage approval rose to €283,700 – up 9.4% on the year and now above Celtic tiger levels for the first time.

The residential property market transactions in the first five months of 2022 are up 7% on 2021 and 6% on 2019, according to my home.ie.

The author of the report, Conall MacCoille, Chief Economist at Davy, said that 2022 should be a year of two halves, with price inflation slowing down in the second half of the year.

“Double-digit inflation and sharp price gains are set to give way to greater concerns on affordability, the economic outlook and the impact of the ECB raising interest rates," said MacCoille.

“However, we are unlikely to see a repeat of the Celtic tiger era - as mortgage lending rules have kept the market in check.

"The expected rise in interest rates from the ECB, while notable, will also not have the same negative effect given the Irish market is well insulated at present," he added.