Construction BUSINESS

In Co Wexford’s real estate realm, 2023 witnessed a modest 0.3 per cent uptick in house prices, a shift from the preceding three years of significant increases. The persistent hurdle of inadequate housing supply persists, shaping the landscape for potential homebuyers.

Current Landscape: Balanced Prices Amidst Supply Constraints

Contrary to the prior 8 per cent surge, recent data from Daft.ie indicates an average house price of €279,518 in Wexford, positioning it 15 per cent below its Celtic Tiger peak. Notably, one-bed apartment prices have declined to €94,000, marking a 12.1 per cent decrease from the previous year.

Over the past year, house prices have maintained relative stability. Two-bed terraced houses saw a marginal 0.6 per cent increase, averaging €138,000, while three-bed semi-detached houses witnessed a 3 per cent rise, reaching an average of €196,000.

Specific property types in Wexford showcase nuanced fluctuations. Four-bed bungalows average €366,000, experiencing a marginal 0.6 per cent decrease. Meanwhile, five-bed detached homes surged by 10.8 per cent, reaching €392,000.

Regional Context: Wexford in Comparative Focus

Wexford emerges as a more affordable option regionally, compared to neighbouring counties such as Wicklow, Waterford, and Kilkenny. However, it outpaces Carlow, where the average home is priced at €256,436.

On a national scale, the housing market witnessed a 3.4 per cent increase in 2023, the smallest since 2019. Dublin saw a 2 per cent rise, while the rest of Leinster observed a more conservative 0.8 per cent increase.