House prices up 35% in three years but regional variations remain vast

House prices have risen by more than a third in just three years as soaring demand revives the market.

Prices nationally have now risen by 35% on average, from their lowest point, three years ago, adding €57,000 to the cost.

In Dublin, the lowest point was a year earlier and prices have risen by an average of 46.5% since, putting them up by €102,500 over the four years.

The fastest turnaround has been in Limerick City, where prices only reached their lowest point two years ago, but have since risen by 38%.

The figures are from the latest quarterly daft.ie survey. Prices rose 7.6%, on average, nationally, in the 12 months up to the end of September.

There are wide regional variations, with price rises ranging from a low of 3.6%, in Wicklow, to a high of 19.4%, in Leitrim, over that period.

Percentages only tell part of the story, however, as, in money terms, Leitrim remains the second least-expensive place to buy a home, while Wicklow is the fourth most expensive.

A home in south Co Dublin will set you back, on average, €527,058, for which you could buy five homes in Co Longford, where the average price is €106,178.

There are also wide variations in price trends and actual prices, depending on the type of home, with one-bedroom apartments, four-bedroom bungalows, and five-bedroom detached homes falling in price in some areas.

The price of the family staple, the three-bed semi-detached house, has shot up by at least twice the national average in Cork, Galway, Limerick, and Waterford cities, as well as in counties Offaly, Westmeath, Laois, Kilkenny, Galway, Mayo, Roscommon, Leitrim, Donegal, and Cavan.

The most expensive is in Dublin 4, where the price is €615,000, and the least expensive is in Longford, where a three-bed semi costs €73,000.

The figures are consistent with another price survey published by myhome.ie today. Both surveys are on their respective websites.