Tipp house prices on the rise

The price of the average three-bed semi in Tipperary is expected to rise by four percent this year.

The Real Estate Alliance has projected that prices in the county will exceed the two percent growth seen last year, as supply continues to dwindle in most towns.

The average cost of a three-bed semi in the county last year was just over €175,000 – up almost €4,000 in the space of 12 months.

Chair of the REA, Séamus Browne from Roscrea, says those prices will have to continue growing to make construction more attractive.

“Unfortunately there’s been little or no new builds in Tipperary for the past 10 to 12 years.”

“And again at €180,000 or even €163,000 in Roscrea these prices won’t support new builds. For a 3-bed semi – for a builder to get a margin – you’re probably looking at anywhere in the region of €240,000 to €250,000 so we’ve a good bit to go yet.”

“So buyers are starting to see a little bit of a shortage in the market.”