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Property Prices in Wexford and the rest of Ireland

The Central Statistics Office has just released the following information on house prices nationally, in Dublin and in the rest of Ireland.

In the year to February, residential property prices at a national level, increased by 8.0%. This compares with an increase of 7.6% in January and an increase of 14.9% recorded in the twelve months to February 2015.

Residential property prices showed no change in the month of February.  This compares with a decrease of 0.5% recorded in January and a decrease of 0.4% recorded in February of last year.

In Dublin, residential property prices decreased by 0.1% in February and were 4.0% higher than a year ago.  Dublin house prices decreased by 0.3% in the month and were 4.0% higher compared to a year earlier.

The price of residential properties in the Rest of Ireland (i.e. excluding Dublin) rose by 0.1% in February compared with no change in February of last year.  Prices were 11.5% higher than in February 2015.

Overall Decline

Residential property prices in Dublin are 36.9% lower than at their highest level in February 2007.  The price of residential properties in the Rest of Ireland is 35.2% lower than their highest level in September 2007.  Overall, the national index is 33.8% lower than its highest level in 2007.

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On the Move Again – Luxury Family Homes in Wexford

After a long period of reluctance by homeowners to put up the ‘for sale’ sign, there has been a big change.  Homeowners thinking of selling were waiting in hope for an increase in market prices and for buyers to have the confidence to hand over the deposit.  It would appear that the optimum time has arrived.

At Kearney & Co., we have sold several family homes in the second quarter of this year at prices that sellers were very happy to achieve and that buyers were prepared to pay.

This is reflective of trends across the county.  The House Price Report released by Daft.ie today, shows that the average house price in Wexford at the end of Quarter 2 was €155,279.  This is an increase of 13.3% on the same period last year.

So our advice?  Don’t sit on the fence waiting for the optimum time to sell.  The optimum time is now.