Latest survey shows rise in house prices in Leitrim

The average asking price of a home in Leitrim for the first quarter of 2012 was €118,052, representing a 3.1% rise from the previous quarter, according to the latest Daft.ie House Price Report.

The average asking price of a home in Leitrim for the first quarter of 2012 was €118,052, representing a 3.1% rise from the previous quarter, according to the latest Daft.ie House Price Report.

The study found that, in Connacht, prices fell by an average of 2.1% in the first three months of 2012, compared to a fall of 7.2% in the final three months of 2011. The median price of four bed semis in Leitrim remained unchanged at €165,000.

Leitrim was the only county in Connacht where prices remained unchanged for this house type. The only other county where this happened was Tipperary, while Kerry was the only county to record an increase.

The first quarter of 2012 saw the smallest decline in asking prices nationally since the market began to fall in 2007, with prices falling by 1.4% on average during the first three months of the year, compared to 8% in the final three months of 2011.

The national average asking price is now €177,000, down 52% from the peak in mid-2007.

Meanwhile, a new National Housing Construction Index complied and issued by Link2Plans has shown the extent of the drop in construction activity in Leitrim measuring planning applications and commencements.

This study shows Leitrim bucking the national trend in the number of submitted applications.

In January & February 2011, 11 planning applications were submitted in Leitrim. In the same period this year, 12 applications were submitted constituting an increase of 9%, one of only three counties nationally to show such an increase.

While this percentage only refers to one project, the index focuses on the trend over time. In the same period, the number of Commencement Notices issued in Leitrim had decreased from ten projects to seven, meaning the percentage decreased by 30%.