HOUSE prices in Limerick have risen by €15,000 during the third quarter of this year.
That’s according to the latest MyHome.ie Property Price Report, which showed the median price for a home in County Limerick standing at €275,000.
Prices have risen by €35,000 compared to this time last year, the report shows.
The asking price for a three-bedroom semi-detached house in Limerick rose by over €5,000 in this third quarter to €265,000, while the average price for a four-bedroom semi rose by €15,000 to €335,000.
In Limerick City, the average amount of time taken for a property to go sale agreed was two months, while in the county it took an average of three months.
Author of the report, Conall MacCoille, chief economist at Bank of Ireland, said that Ireland’s population is growing at a rate not seen since the Celtic Tiger.
“Perhaps the most striking news since our last MyHome report is that Ireland’s population grew by 1.9 per cent pace for a second successive year, to 5.38 million in 2024. We have not seen population and economic growth at this level since the Celtic tiger era, and as a result the housing market is being put under intense pressure,” Mr MacCoille said.
Mr MacCoille added that “new instructions for sale in Q3, were up 2 per cent on the year, but remain depressed.”
“The overarching concern is that the tight housing market is now feeding on itself, with would-be vendors put off by for fear of failing to secure a property once they sell their own home.”
