House Prices

House prices in Louth continue to rise

Daft.ie Property report

Donard McCabe

Reporter:

Donard McCabe

House prices in Louth continue to rise

House prices in Louth continue to rise according to the the latest Daft.ie House Price Report

House prices in Louth in the first three months of 2018 were 7.1% higher than the same period last year, the latest House Price Report released today by property website, Daft.ie.

In Louth, the average house price is now €210,000, 65% above its lowest point following the recession. In the first quarter of this year alone, house prices in Louth have risen 2.1%.

According to the report, average house prices in Louth are as follows:

A one-bed apartment in Louth now stands at €87, 000 – 11.7% year on year increase

The average price for a two-bedroom terrace house in Louth is now €115,000 – representing a 7.9% increase on 2017.

A three-bed semi-detached house in Louth is now averaging €162,000 – this is 6.6% higher than the same period last year.

The average asking price for a four-bed bungalow in Louth is now €305,000 – this represents a 5.2% increase on 2017.

The one type of house in Louth that has not seen an increase in the average asking price, according to the report, are five-bed detached houses. The average asking price of €327,000 for this size of house is the same price as this time last year.

According to the report, the number of properties available to buy on the market nationwide continues to fall. There were just over 20,000 properties on the market in March.

Commenting on the figures, Ronan Lyons, economist at Trinity College Dublin and author of the Daft.ie Report, said:

“The picture of the housing market in Ireland currently remains one of strong demand and very tight supply pushing up prices.

"There are some elements for cautious optimism, including an increase in transaction volumes countrywide and in stock on the market in Dublin.

"Nonetheless, during a five-year period when consumer prices did not change, housing prices rose by 50%. This is an indication of how inadequate housing supply is.”