Price of 3 and 4 bed semis in Louth stable

House prices appear to be stabilising in Louth with asking prices falling only marginally in the opening quarter of 2013, according to the latest survey from property website MyHome.ie.

House prices appear to be stabilising in Louth with asking prices falling only marginally in the opening quarter of 2013, according to the latest survey from property website MyHome.ie.

The median asking price of a 3 bed semi-detached home in the Wee County fell by just w1,000 in the first three months of the year to w149,000 – a drop of 0.7 per cent.

That has left the county on a par with neighbours Meath for the second month running.

Meanwhile, the median asking price of a 4 bed semi-detached home also fell by just w1,000 to w179,000 – a drop of 0.6 per cent.

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

According to the latest house price survey from MyHome.ie the annual rate of decline in the year to Q1 2013 was 9.8 per cent, the lowest annual rate of decline in five years.

For the first time since the property crash in 2006, Dublin prices have remained unchanged for the second quarter in a row.

The annual rate of decline in Dublin was 4.8 per cent in the quarter, down from 12 per cent in Q4 2012.

The figures show that the mix adjusted average house price nationally now stands at w197K down 52% from the peak of the market. In Dublin the corresponding figure is w236K, down 56 per cent from peak.

The author of the report Annette Hughes, from DKM Economic Consultants said the new survey indicated that prices are stabilising in Dublin.

“At 4.8 per cent the annual rate of decline in Dublin is about half the national rate.

“Overall asking prices in Dublin have been reasonably stable over the last year and this may indicate that they are now levelling off.

“Nationally prices are continuing to fall, but the annual rate is under 10 per cent for the first time since 2008, and this is also a positive development.”