House prices in Wexford rise by 13 per cent
Published 12/04/2015 | 14:08
House prices in Wexford continue to rise according to the latest housing reports from Myhome.ie and Daft.ie.
The report from Daft.ie shows that the average asking price for a house in Ireland grew by 4.6 per cent in the first three months of 2015 making a return to price growth, following a 1 per cent fall in the final three months of 2014.
The average asking price nationwide is now €201,000, the first time since mid-2011 that it has been above €200,000. This compares with a low of €170,000 in mid-2013 and a high of €378,000 in mid-2007.
However this is significantly less in Wexford where the average asking price of a house is €145,734. This represents an increase of 12.9 per cent from the same time last year.
The figures show that the average asking price of a one bed apartment in Wexford now stands at €50,000, an increase of 13.9 per cent from the same period last year while the price of a two bed terraced house increased by 10.7 per cent to €66,000. The price of a three bed semi detached house rose by 12.4 per cent to €91,000 and a four bed bungalow saw an increase of 10.2 per cent bringing it to €189,000. The price of a five bed detached house rose by 1.5 per cent to €218,000.
According to the latest report from MyHome.ie the report found that the median asking price of a three bed semi in Wexford rose by three per cent in the first quarter of the year to €120,000. According to the MyHome.ie/Davy affordability index Wexford has a price to income ratio for this house type of 3.9. The ratio for the country as a whole is 5 while in Dublin its 5.9. Despite the increase of three per cent in prices the report shows that house prices in Wexford are still 60 per cent below the peak.