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02 Oct 2022

House prices rise in Louth

Property

Louth homeowners won’t face increased Local Property Tax bills next year – O’Dowd

House prices in the third quarter of 2020 were 6% higher than a year previously in County Louth, compared to a fall of 3% seen a year ago.

The average house price is now €227,000, 78% above its lowest point.

Local auctioneer, Joanne Lavelle of Michael Lavelle Estate Agents, commented: "Properties that fell through during the first lockdown were renegotiated at typically 5% above their initial sale agreed price, due to increased interest during lockdown and buyer activity as soon as it ended.

"For the past 4 months, properties under €200,000 have been selling up to 10% above their asking price, and in the €200 - €300 range, they're gaining 5% on the value. The higher-end properties are generally holding well, although there are some notable exceptions like Killin Park House which achieved well above its asking price.

"Although the shortage of second-hand homes is a major factor, the interest from people moving out of Dublin is also a big trend to watch."

With this in mind, Joanne has revealed that Michael Lavelle Estate Agents have launched a new website to cater for those thinking about making the move out of Dublin.

"We've responded by launching a website, www.liveinthenortheast.ie - as a place where people considering a move here can get all the information they want - where to work, go to school or creche, the shops, sports clubs, our amazing outdoor landscapes, etc. People are valuing things differently now - spending more time at home means people want more space with their own garden rather than an apartment in Dublin, and having ready access to parks and beaches."

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