The price of the average second-hand three-bed semi in County Meath has risen by 4.5% to €260,000 in the last three months, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell has fallen by a fortnight to three weeks this quarter, the REA Average House Price Index shows.

Prices in Ashbourne rose 1.6% to €325,000, with homes selling just two weeks after going on the market this quarter.

“The market is still exceptionally strong, with viewings very much back in play, and we continue to achieve offers well in excess of asking price,” said Paul Grimes of REA Grimes, Ashbourne.

Average prices in Trim this quarter rose 8% to €270,000, with time to sell falling to three weeks from five.

“We are seeing mostly first-time buyers and loan-approved clients. The residential market here is very strong, with a big demand for 3-4 beds with low stock supply,” said Thomas Potterton of REA TE Potterton, Trim.

“There is increased interest coming from other areas, with more people working from home, buyers have money to spend.”

Navan prices this quarter rose 4.2% to €250,000, with time to sell falling by a fortnight to four weeks.

“With working from home now the new normal, many of our purchasers are prioritising where they want to live, with many moving out from larger urban areas to superior homes with good broadband and all amenities still close by,” said Michael Gavigan of REA T&J Gavigan, Navan.

The average house price in Kells rose 5.4% to €195,000, with time to sell falling from six weeks to three.

“Demand is very high at the moment, with low supply,” said Cara Gavigan of REA T&J Gavigan, Kells.

Average house prices have risen by almost €1,000 per week nationwide since the end of March, the REA Average House Price Survey has found.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

Fuelled by pent-up demand and the return of physical viewing, the marketplace is also seeing the lowest supply and the shortest time taken to sell in recent history.

And as multiple buyers bid for scarce supplies, the average three bed semi is now reaching sale agreed after just four weeks on the market across the country – less than half the ten-week average this time last year.

The price of a three-bedroomed semi-detached house across the country rose by €10,000 over the past three months to €253,685 – representing an annual increase of 8%.

The biggest rises in Q2 came in commuter counties and the country’s large towns as buyers continue to move out further from the city in preparation for long-term hybrid working situations.

In Dublin city, house prices rose by €1,500 per week in Q2, increasing from €438,500 in March to a present rate of €456,667.

Cork, Limerick, Galway and Waterford cities shared a combined increase of 3.5% in the past 12 weeks with prices rising by €10,000 to an average of €275,000.

Three bed semis in commuter counties rose 4.33% by over €11,000 in the past three months to an average of €270,111 – with the average home selling in just three weeks, down from a high of 11 weeks a year ago.

As the flight to rural locations continues, prices in the rest of the country’s towns rose by over 4.6% in Q2 to €176,690.