House prices in Clare and Limerick are rising at one of the fastest rates in the country.
According to the latest Daft.ie report, there was a 11.4 per cent increase in both counties, with only Laois experiencing a greater rise.
In Clare, the average cost of a home now stands at over €183,000, with Munster the region experiencing the biggest rate of increase nationally.
Overall, house prices in Ireland rose by some €1,000 per month on average in 2018, with buyers shelling out around €254,000 for the average home nationally.
Author of the report, Ronan Lyons, says prices didn’t rise by as much in Dublin and some other parts of the country.
Meanwhile, a flurry of activity from first-time buyers is predicted in the New Year, as the mortgage prices in Clare fall below the average cost of renting here.
Figures compiled for MyMortgages.ie show that in Clare, the average monthly mortgage repayment for a 3-bed house is €595.
Rent for the same property would be approximately €727 – that’s a difference of €132 per month.
Head of Credit at MyMortgages.ie Joey Sheahan says while it won’t be the same for everyone, some will actually save money by repaying a mortgage:
