Tipperary house prices drop by 8% over last 12 months

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House prices in Tipperary have dropped by over 8% in the last year.

The June Housing Market Report from daft.ie has found that the average house price in Tipperary last month was just under €174,000.

That rate of price decrease is only surpassed by Limerick and Kerry.

The report has also found that the number of available properties to rent in Dublin has risen by 63%.

It’s believed short term lets, usually used by tourists, moving to longer term tenants can account for the vast majority of cases.

Author of the report Ronan Lyons says that’s a positive:

“Those extra couple of thousand properties over the first six months of 2020, that’s a one off win. They may or may not go back to the tourism sector. It might be difficult for them to do so once the tourism sector kicks off again. But there’s no more of that. Once that one off transfer has happened from the short term to the long term rental sector, the underlying need is still there.”