According to the latest figures from Real Estate Alliance the average price of a three-bed semi detached house in Tipperary now stands at €126,875 – an increase of just over 2.5% in the last three months.
According to REA John Lee in Newport, demand is steady but there is a lack of supply and not enough new homes for first time buyers in the area.
REA Stokes & Quirke in Clonmel have seen strong demand for quality first time buyer properties in good areas with prices in the region of €150, 00 being achieved.
The top end of the market is quieter with the central bank requirement of a 20% deposit slowing things down. The recent positive job announcements for Clonmel and Cashel will further highlight the lack of availability of first time buyer homes and put pressure on rental prices.
REA Eoin Dillon in Nenagh, have seen strong demand with a good level of interest in any property that comes up for sale with offers at close to asking price within a week. However, there is also a shortage of supply in Nenagh.
Spiralling rents will cut off mortgages as an option for many young couples unless the Central Bank revisit the rules, raise exemption limits and include second-time buyers, according to REA adding when the Central Bank introduced the new rules, they stated that they could revisit them, and believe that they need to do so as a matter of urgency.
