House prices in Wexford fell during the first quarter of 2013 and Wexford is now the third cheapest place to buy a three bed semi-detached home in the province after Westmeath and Carlow.

According to a survey carried out by MyHome.ie the median price in the county fell by €5,000 to €125,000 – a drop of 3.9%.

Meanwhile, the median asking price of a four bed semi-detached home in Wexford fell by €9,000 during the same period to €140,000 – a decrease of 6%.

This makes it the fourth cheapest place to buy a four bed home in Leinster after Longford, Laois and Offaly.

The rate of decline in property prices nationally has continued to moderate with prices falling by 1.8% in the first quarter of 2013, compared with a fall of 3% in the previous quarter.

Annette Hughes, from DKM Consultants, said the new survey indicated that prices are stabilising in Dublin, but nationally are continuing to fall, but the annual rate is under 10% for the first time since 2008, which is a positive development.

“Immediate issues impacting the market include the increasing demands of disposable incomes – the property tax for example- and access to mortgage finance,” said Ms. Hughes, who added, “Progress on addressing the mortgage arrears challenge over the coming months may depress property prices further in the short term.”

She stated that this development together with a difficult budget later in the year would suggest property prices are likely to remain volatile through 2013.

Angela Keegan, Managing Director of MyHome.ie said that while improved affordability was welcome for consumers, access to mortgage finance, while improving, remains an issue.

Full details in this week’s Echo Group of Newspapers.