Price of one beds in Louth rise 14% in a year
Daft.ie House Price Report 2023 Q1
The average asking price for one bed apartments in Louth has risen 14% in one year, according to the latest Daft.ie House Price Report, with average asking prices now reaching €124,000.
The Daft.ie House Price Report for Q1 2023 released yesterday, shows that in Louth, prices in the first three months of 2023 were 4% higher than a year previously, compared to a rise of 8% seen a year ago. The average price of a home is now €269,000, 23% below its Celtic Tiger peak.
For newly built homes in Louth, the median price during the second half of 2022 was €319,000. The average asking price for different types of homes in Louth in the first quarter of this year (Q1), along with the annual change in asking price is as follows:
- One bed apartment - €124,000 - up 14%
- Two bed terraced house - €149,000 - up 2%
- Three bed semi-detached - €214,000 - up 7%
- Four bed bungalow - €407,000 - up 8%
- Five bed detached house - €395,000 - down 1%
Nationally, Housing prices fell by 0.3% in the first three months of 2023, the first time in a decade that there was a first-quarter fall in listed prices.
The average listed price nationwide in the first quarter of 2023 was €308,497, 2.7% above the same period in 2022 and 17% below the Celtic Tiger peak.
Commenting on the report, author Ronan Lyons, economist at Trinity College Dublin, said: “The change in market conditions over the last 12 months is clear from the figures in this latest Daft.ie House Price Report.
"A year ago, double-digit inflation in housing prices was still prevalent across much of the country. Now, very few markets are seeing prices more than a percentage point or two higher than a year ago – and those increases largely reflect increases seen March-June last year.
"But while demand has weakened, the post-covid recovery in supply also appears to be weakening, in both new and second-hand segments. Thus, while this year is unlikely to bring any substantial increases in housing prices, underlying issues stemming from housing shortages will persist.”