House prices in Wexford take a dip during second quarter of the year
Published 07/07/2015 | 00:00
The price of houses in Wexford fell in the second quarter of the year according to the latest figures from MyHome.ie.
The figures show that although house prices in Wexford are up on a year on year basis they fell in the second quarter.
Although houses prices rose in the majority of counties nationwide Wexford was one of five counties nationally - including Laois, Mayo, Roscommon and Donegal - where the asking price for both a 3 and 4 bed semi fell. The price of a three bed semi in Wexford declined by 0.8 per cent to €119,000, although the annual rate of growth was still 10.2 per cent.
Meanwhile the price of a four bed semi in Wexford fell by 1.9 per cent in the quarter to €132,500 although annually prices were still up 3.9 per cent.
Author of the report, Conall MacCoille, Chief Economist at Davy, said the MyHome.ie data points to a modest increase in house prices for the remainder of 2015.
New instructions give the best lead indicator on house prices and while the outlook remains uncertain - we believe house prices look set to rise by close to 10 per cent for the calendar year.
'However as the figures for new instructions indicate, annual price inflation is likely to slow towards 5 per cent by the end of the year. This is not a negative given that wages have not kept pace with house prices stretching affordability,' he said.