Tipp house prices increased by nearly €21,000 in last 12 months

Stock image. Photo: Pixabay

Property prices in Tipperary have bucked the national trend by rising during the first three months of the year according to the latest MyHome.ie Property Price Report.

The report – in association with Davy – shows that the median asking price for a property in the Premier county is now €199,950.

This means prices have risen by €20,950 compared with this time last year.

MyHome.ie Managing Director Joanne Geary says the lack of supply in Tipperary is contributing to the increase in asking prices.

“Supply in Tipperary is back by 5% – it’s not huge so nothing to be overly concerned about. 529 properties available for sale on MyHome in the county at the end of March so that’s a decrease of 5% in the quarter.

“If stock continues to decrease in the County what you will see is asking prices starting to increase even more in the next quarter.”

Joanne Geary says the increase in Tipperary property prices in 2022 was very much focused on the first six months of the year.

“You would have seen a slight slowing in asking price increases in the 3rd quarter of the year and then those prices stayed steady in the last quarter of the year.

“So the bulk of that increase would have happened in the first six months of 2022 and we’re now seeing a pick-up in asking price increases again in the first quarter of this year.”