House prices locally continue to rise.
The latest report from MyHome.ie shows the average house is selling across the country at 9% over the asking price with asking prices up 8.4% over the course of 2024 which is the highest rate of annual inflation since the summer of 2022.
Carlow jumped 7.3% while in Kilkenny the increase was 4.4% as indicated below;
The average mortgage loan has exceeded €300,000 for the first time, and is up 7% on the year before.
Economist Conall Mac Coille says the lack of supply means it’s a sellers market right now, noting; “Effectively the asking price is becoming less representative of the final transaction price that people aren’t being given a sort of true indication of what the final transaction price is going to be so it’s ideally not a feature of the market that you’d like to see, really the the big step up in the premium people are paying at the moment just reflects the market is very hot and there’s so much competition amongst homebuyers”.
