Property prices in Cork are on the rise once again, with 2023 seeing an annual jump of over 4% nationwide.
In December, houses sold for an average of 4% over their asking price.
In Cork, prices for a 4 bed semi detached house were up 7.4 percent on last year with the average home costing €375,000.
Chief Economist with Bank of Ireland Conall MacCoille believes the trend is likely to continue this year:
"it's a very tight market. There're just 11,600 properties for sale. If you look at the average time to sale agreed, that's down close to historic low of 12 weeks. So whatever property is available is being snapped up very, very quickly and that's because demand is so strong. If you look at the number of homes built last year, if you look at the number of homes sold in the second hand market, that has improved, but it's clearly not enough".
