Residential Property Price Index July 2019

Newly built homes in Dundalk significantly more expensive to buy

Residential Property Price Index July 2019

Donard McCabe

Reporter:

Donard McCabe

Newly built homes in Dundalk significantly more expensive to buy than existing homes

New builds in Dundalk significantly more expensive to buy than existing houses

The average price of newly built houses sold in July in Dundalk was significantly higher than existing houses according to the July Residential Property Price Index released yesterday by the Central Statistics Office (CSO).

According to the latest figures, the average price for newly built houses, sold and legally transferred in Dundalk in July was €262,790. This compares to €230,323 for existing houses sold and legally transferred in July.

While in June, the gap was smaller with the average price for new houses standing at €245,535 and existing homes €237,600; in May the gap was almost €50,000, with the average price for new builds sold being €249,957 and existing builds €202,467.

First time buyers made up less than a quarter of the sale of houses legally transferred in July. 36 homes were sold in July - eight to first time buyers; 20 to former owner-occupiers and eight to non-occupiers.

This is a big change from the month previously however, when 27 out of the 56 (almost half) houses sold and legally transferred, went to first time buyers. 25 went to former owner-occupiers and four to non-occupiers.