The price of the average second-hand three-bed semi in Cork City has risen by 1.5% to €345,000 in the last three months, according to a national survey by Real Estate Alliance.
The survey has shown that 40% of sales in the City are to first-time buyers, with 20% of all purchasers coming from outside the area.
Prices across the county rose by 0.7% to €207,500 this quarter, and the average time taken to sell is four weeks, the Q2 REA Average House Price Index has shown.
Michael O' Donoghue of REA O' Donoghue & Clarke, Cork said:
“There is still strong demand from first time buyers in the news homes market since the start of the year, which is reflected in a general increase in sales and new developments coming on stream.
However, there is a continuing lack of second hand stock coming to the market and this remains a significant issue in relation to all property types in both the city and the wider county in general."
