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House prices jumping up by €500 a Week

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The average three bed semi-detached house nationally has risen by 3.1% to €221,843 since June, as the housing crisis continues to grow.

This means that the average price for a home is jumping by €500 every week.

Overall, the average house price across the country has risen by 11.2% over the past 12 months.

The three-bed semi detached properties which are the most common type of family home in Ireland  are now increasing in price at a rate of almost twice as fast as they were 12 months ago.

In Dublin, the average price of a three-bed semi-detached home has jumped in value by €17,000 in the three months to the end of September, and now costs an average of €431,500.

The 4.1% rise over the last quarter means that prices in the capital’s postcode areas have increased by 15.6% over the past year, with properties selling in an average of four weeks after hitting the market.