Latest survey shows change in house price in Louth in past three months

The price of the average second-hand three-bed semi in Louth rose by 0.8pc to €315,000 in the last three months, according to the latest REA national survey.

Across the county, the average time taken to reach sale agreed was three weeks, the Q1 REA Average House Price Index shows.

In Drogheda, average prices rose by 1.5pc this quarter to an average of €330,000, while Dundalk average prices remained unchanged at €300,000.

“There was a slow start to the year in terms of properties coming to market, however we have seen this picking up a little during the last two weeks,” said Darina Collins of REA O’Brien Collins, Drogheda.

The survey shows that across the county, 75pc of purchasers were first-time buyers, while a total of 15pc of sales in the county this quarter were attributed to landlords leaving the market.

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Additionally, the survey found A-rated BER properties in the county are commanding 20pc price increases in comparison to C-rated properties.

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

The actual selling price of a three-bed, semi-detached house across the country rose by 1.5pc in the past three months to €364,747. This represents a 7.67pc annual rise – slowing gradually from the 9pc increase registered six months ago.

With energy prices coming into focus, agents are reporting that there is a renewed focus on heating costs, with the A-rated v C-rated BER price premium rising to 13pc, up from 10pc at the end of December.