Property prices in Louth increase by €10,000
Property prices in Louth have risen by €10,000 in the last year, according to the latest MyHome.ie Property Report in association with Davy.
The report for Q1 2018 shows that the median asking price for a property in the county now stands at €200,000. While this was unchanged from the previous quarter at the end of 2017, prices are up 5.3% year-on-year from €190,000 this time last year.
This means that prices in the county remain at their highest level since Q4 2011 when they stood at €210,000.
The annual increase was reflected in relation to the asking price of a 3-bed semi-detached house in the Wee County, which remained unchanged for the fourth straight quarter in Q1 at €185,000. Despite this, prices were up 5.7% year-on-year from €175,000 a year ago. The asking price for a 3-bed semi in Louth hasn’t been higher since six and a half years since Q3 2011 when it stood at €189,000.
The asking price for a 4-bed semi-detached house in the county also rose in the opening quarter of the year by 1.1% to €235,000 - an increase of €2,501. Prices were also 4.4% higher than this time last year when they stood at €225,000.
The latest increase leaves property prices for this house type in Louth at their highest level in seven years, since standing at €240,000 in Q1 2011.
The number of properties for sale in Co Louth on MyHome.ie has fallen by 9.5% in the last year as stock levels across the country remain an issue. The average time to go sale agreed on a property in the county now stands at 3 months.
The report found that the prices of newly listed properties nationally rose by 4.8% in Q1 while prices in Dublin rose by 3.3%. Newly listed properties are seen as the most reliable indicator of future price movements.