October 29, 2020
Business News Property

€12,000 wiped off value of Wicklow homes

Average house prices across Wicklow plummeted by more than €12,000 in just 12 months despite a buoyant market, a new survey reveals.

This decade began in the same way that occurred back in 2009 and 2010 at the height of the property crash when house prices in Wicklow plummeted by a massive 17.4%.

The 12 months up to the end of December 2020 recorded the first average year-on-year drop in house prices since 2013, according to the latest Daft.ie report.

Despite the 3.8% drop, Wicklow property prices remain on par with those in Dublin city-centre and is still among the most expensive areas in which to buy a home.

The report reveals the average price of a house in Wicklow now stands at €320, 972, down from €333,198 at the end of 2018, a drop of 3.8%.

According to the report, house prices in Wicklow are the fifth most expensive of the 35 counties and urban areas identified in the report.

Commenting on the overall findings, the author of the report Ronan Lyons said the most recent housing boom lasted the exact same amount of time as the bust which preceded it.

“It was a decade that started with rapidly falling prices and closes with gently falling ones. In the first quarter of 2010, sale prices nationally were 17.4% lower than a year previously – just one of 16 consecutive quarters where prices fell by more than 10% in year-on-year terms and the tenth of 24 consecutive quarters where prices were falling,” he said.

“For the following 24 quarters, from 2013 to 2019, the average listed sale price nationally was higher than it had been a year previously. In other words, the sale price boom lasted as long as the preceding bust: six years.”

 

 

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