Price of average second-hand three-bed semi in Meath up 3% in three months

The price of the average second-hand three-bed semi in county Meath has increased to €311,500, up 3pc from €302,500 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, 90pc of purchasers this quarter were first time buyers, and a third of vendors were landlords exiting the market, the Q3 REA Average House Price Index shows.

“Demand still outweighs supply, which in turn is having knock-on effects on prices, with a noticeable increase in case sales versus mortgages,” said Thomas Potterton of REA TE Potterton, Trim.

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 2.7pc in the past three months to €323,741.

Time taken to reach sale agreed nationally has dropped to four weeks as low supply continues to drive sales.

A supply drought in Dublin has reignited the commuter property market as buyers battle to secure affordable family homes, the Index has found.

Frustration in the capital has led to the return of the previously unheated commuter market, which has risen by 2.9pc over the past three months to an average of €336,944.