Limerick buyers zoning in on Nenagh housing market

Photo courtesy of REA

The price of the average second-hand three-bed semi in County Tipperary has risen by 1.6% in the last three months.

According to a survey by Real Estate Alliance the price in the Premier County now averages €205,000

It also shows that 66% of sales in the county are to first-time buyers, with 20% of all purchasers coming from outside the area.

Nationally house prices have increased by just over 3% in the first three months of the year.

Nenagh recorded the biggest hike in the Premier County where they’re up by €5,000 since January to €235,000 which represents an increase of 2.2%

Eoin Dillon of REA Nenagh says it’s not just local buyers looking for properties which are in very short supply.

“We’re seeing a lot of purchasers coming from Limerick to be honest who are seeing a little bit more value and probably a better lifestyle and better environment for bringing up kids and that.

“They’re quite happy to buy in Nenagh and maybe one or two of them commute to work in Limerick or certainly on the UL side of Limerick.

“Supply is an enormous issue. I suppose with no new builds happening there’s no supply of new houses so the supply of second hand stock is very limited.”