REA Hynes market analysis - March 2025

Westmeath house prices up 3.1pc in three months – REA survey

The price of the average second-hand three-bed semi in County Westmeath has increased to €330,000, up 3.1pc from €320,000 in the last three months, according to a national survey by Real Estate Alliance.

Across the county this quarter, the average time taken to sell fell this quarter by one week to an average of four, the Q1 REA Average House Price Index shows.

“We are seeing a market where the shortage of supply is driving up prices,” said Donna Hynes of REA Hynes.

 

The survey shows that across the county, 80pc of purchasers were first-time buyers, while a total of 10pc of sales in the county this quarter were attributed to landlords leaving the market.

The REA Average House Price Index concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

The actual selling price of a three-bed, semi-detached house across the country rose by 2.5pc in the past three months to €338,847, and 10pc overall annually.

Three-bed semis in Dublin’s suburbs are reaching sale agreed in days as a wave of mortgage approved buyers turn their focus from apartments to family homes, the survey has found.

Actual selling prices in Dublin city rose by 3pc in the last three months, and the average three-bed semi in the capital is now selling at €558,250 – a rise of almost €50,000 in the past year.

Prices in the major cities outside the capital rose by an average of 3pc to €355,250 in the last three months – an annual rate of increase of 8pc.

Homes in the country’s large towns continue to show the biggest annual growth nationwide, 2.9pc this quarter and 13pc on last March to an average of €256,576.

The absence of new home building, and historically low supply has seen three bed semi-detached homes in parts of Donegal, Kerry, Mayo, Offaly and Roscommon increase by over 23pc in the past year.

Homes in commuter counties rose by 1.9pc over the past three months to an average of €350,278, an annual rise of 9pc.