Louth property turnover rate

Louth property turnover rate

Louth had a housing turnover rate of 2.2 per cent between July 2015 and June 2016 according to the GeoView report published by GeoDirectory.

The national average housing turnover rate for the same period was 2.1 per cent. When Dublin is excluded the turnover rate falls to 1.5 per cent, highlighting the Capital’s effect on the housing market. By cross referencing the Property Price Register (PPR), the 2016 CSO Census of Population and the GeoDirectory Database, the GeoView report offers new, unique insights into the residential housing density, turnover, development and shortage in the country.

The database found that there were 2,015,260 residential dwellings across the country as of June 30th 2016. According to the GeoView report, detached housing accounted for the largest portion of this total at 39%, followed by terraced (27%) and semi-detached dwellings (23%). The level of apartments amounted to 181,213 as of the 30th June, with Dublin accounting for the largest share of this total (21.8%).

The report estimates that there were 42,960 transactions in the year to June 2016 according to the PPR. A total of 12.2% (5,225) were represented by new properties while 87.8% (37,735) were second-hand property transactions. Dublin experienced the greatest turnover in housing stock with 13,118 transactions (2.5% of the total Dublin residential stock). Monaghan had the lowest turnover rate (1.3%), followed by Donegal (1.5%) and Tipperary (1.6%).

The national average house price for the year was €232,862, however the average price falls to €168,078 when Dublin is excluded. Dublin had the highest average transaction price (€380,237) in the country. Wicklow had the second highest average price (€315,564) and Kildare (€255,967) the third highest. Three counties had average property prices of less than €100,000 in the year: Longford (€80,357) had the lowest average price in Ireland, followed by Roscommon (€88,317) and Leitrim (€91,608). Louth had an average property price of €155,300.