House prices stabilise 
locally during first quarter

According to figures released by myhome.ie the price of houses in Leitrim has stabilised in the second quarter. The asking price for both three and four-bed semis is unchanged at �85,000 and �149,000 respectively.
The asking price for both three-bed and four-bed semis in Leitrim stabilised in the second quarter of the year, according to the latest survey by property website MyHome.ie.

The asking price for both three-bed and four-bed semis in Leitrim stabilised in the second quarter of the year, according to the latest survey by property website MyHome.ie.

The median asking price of a three-bed semi in Leitrim was unchanged in the second quarter at €85,000 – almost 63% below the 2006 peak. The price of a four-bed semi was also unchanged at €149,000, a fall of just over 8% in the 
past year.

Asking prices for houses in Dublin have grown by 1% year on year according to the survey. It’s the first time 
annual growth has been recorded for house prices in the capital in six years. In Cork, prices remained stable for the second successive quarter. Asking prices for houses nationally fell by 1.9% in the second quarter to stand at €193,000, a fall of 53% 
from the peak.

Angela Keegan, Managing Director of MyHome.ie described the latest figures as very encouraging and said she believed the trend towards price stabilisation would spread to other cities in coming months. “We have consistently said that any recovery would happen first in Dublin and it’s very positive to now see prices stabilising in Cork and other counties like Kildare.

“One issue in Dublin and some other urban areas is a shortage of stock. In the capital stock levels are down a third in the last 12 months although they are up 7.6% on Q1. Competition for properties is driving prices in some parts of the city and an increase in the supply would ensure affordability - which has improved dramatically in recent years - remains at a reasonable level,” Ms Keegan said.