THE AVERAGE cost of a new home in Limerick last year was €167,348, almost €100,000 less than the overall national average.
The area with the highest average residential property price in Limerick was Limerick City at €186,081, according to the latest GeoView Residential Buildings Report, published by GeoDirectory.
There were 482 dwellings in Limerick added to the GeoDirectory database which was 1.3 per cent of the national total of new addresses.
The rate at which property is changing hands is slightly less than the national average with Limerick housing turning over at a rate of 2.27 per cent while the national average stood at 2.5 per cent.
New homes accounted for more than one in ten residential property transactions in Limerick (12.2 per cent), less than the national average of 18 per cent.
The average residential property price in Limerick in 2017 was €167,348. The average property price outside Dublin was €187,623.
There were more empty homes in Limerick city and county, with a vacancy rate in December 2017 of 5.1 per cent, which was higher than the national average of 4.8 per cent.
The report finds that 36,218 new dwellings were added to the GeoDirectory database in 2017, 1.8 per cent of the total residential stock. Of these new addresses, the overwhelming majority were located in the capital and surrounding counties, with Dublin, Meath, Kildare and Wicklow accounting for 77.4 per cent of the overall total.
At 32. 6 per cent, Meath was the county with the highest proportion of new dwelling transactions, emphasising the growing demand for housing on the commuter belt.
The report states that construction activity has doubled relative to the same period last year. In Limerick, 335 buildings were under construction in December 2017.
The average residential property price in Limerick in 2017 was €167,348. This was lower than the national average of €262,061. Excluding Dublin city and county, the average national property price was €187,623.
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