House prices rising higher in Waterford than any other city despite pandemic: report
House prices in Waterford are rising faster than in any other city in the country, a new report reveals.
The price of a home in Waterford city increased by almost to 11% in the third quarter of 2020, according to the latest housing market survey from the property website Daft.ie.
People looking to buy homes in Waterford city saw the price rise by 10.9% in the third quarter of 2020 to €192,714, this huge rise despite being in the midst of the Covid-19 pandemic.
Year-on-year house prices rose by 5.2%, up from €182, 700 at the end of the third quarter 2019.
However, the surge in house prices in the city has has not been as strong in the rest of the county.
The report shows a 4.6% increase quarter on quarter, with house prices now standing at €230,003. This price is still slightly down, -1.9% on the same time last year when house prices were €234,375.
The author of the report, Ronan Lyons, said the figures are unusual considering the number of people out of work and the uncertainty created by the pandemic.
“The figures from this latest Daft.ie Report shows a notable bounce in the listed price of housing across Ireland in the third quarter of the year. Prices had fallen by an average of almost 2% nationwide in the second quarter of the year,” Mr Lyons said.
“In the third quarter of the year, however, prices rose by an average of 4.8% in just three months.
“This is the largest quarterly increase in average prices since the start of 2015 and the fourth largest three-quarter jump overall, in a series extending back to the start of 2006.”