Property

Louth house prices to rise 2.5% in 2019

Survey carried out by Real Estate Alliance

Donard McCabe

Reporter:

Donard McCabe

Louth house prices to rise 2.5% in 2019

Louth house prices to rise 2.5% in 2019

The price of the average three-bed semi in County Louth is expected to rise by 2.5% in the next 12 months, according to a survey carried out by Real Estate Alliance.

Prices in the county rose by 5% to €210,000 in 2018 – with no change between September and December.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide.

"A huge demand for second-hand three-bed homes is being met with short supply and there is no change anticipated in the coming months", said Michael Gunne of REA Gunne Property in Dundalk.

The average semi-detached house nationally now costs €236,287, the Q4 REA Average House Price Survey has found – a rise of 0.6% on the Q3 2018 figure of €234,284.

Overall, the average house price across the country rose by 4.6% in 2018 – a decrease on the 5.4% recorded to September and indicating that the market is continuing to steady after an 11.3% overall rise in 2017.

Growth in the commuter counties also slowed to 0.38% in the last three months – an annual rise of 4.18% – with the average house now selling for €249,472.

This is an annual rise of €10,000 and growth of €2,000 in the last three months.