Rural prices surge in Q3 as flight from cities continues

Third-quarter sale prices in commuter areas and small towns grew at double the rate in urban centres, an REA survey has found

Barry McDonald, REA spokesman: “The rural flight, which began during lockdown, shows no signs of letting up, even in the face of a return to office working.”

The race for remote working space and the urban flight from cities is driving a huge rise in property prices outside major cities, the Q3 REA Average House Price Survey has found.

Average house prices have risen by €3,500 per month since the end of June, with selling prices in commuter areas and small towns increasing by over double the growth experienced in cities.

Massive demand for properties outside the capital has seen unexpected quarterly ...