Number of property sales in Leitrim increases in value by 23%

Claire McGovern

Reporter:

Claire McGovern

Leitrim property prices.

The number of houses being sold in the county is on the increase

The number of property sales in Leitrim has increased in value by 23% from €18,277,709 in the first half of 2016 to €22,535,771 in the first half of 2017.

Leitrim also saw a small increase of just 3.2 % in the number of sales from from 217 in H1 (First Half) in 2016 to 224 in H1 2017.

The new study based on an analysis of the Property Price Register shows that the number of sales nationally has increased by 8.4% in the first half of 2017, compared to the same period last year.

While the falls in the number of sales in Galway, Limerick and Waterford were low or even marginal, there were sizable falls in Longford (19%), Sligo (17.2%) and Donegal (14.5%).

There were 177 sales in Longford compared to 218 last year; in Sligo there were 309 sales compared to 373 in 2016, a fall of 17.2 percent and in Donegal there were 568 sales in H1 2017 compared to 664 in H1 2016.

The value of the property sold in these areas  are as folows:

Longford:€16,433,519 (H1 2017) €16,426,495 (H2 2016) - an increase of just 0.04%;

Sligo: €41,718,514 (2017), €37,751,040 (2016) -  up 10%;

Donegal: €67,785,830 (2017) , €73,213,397 (2016)  - down -7.4%.

However there was good news for Roscommon and Cavan.

Roscommon saw sales increase 13.5% from 275 to 312 when comparing the two times periods while Cavan saw an increase of 27.3%  with sales  increasing from 311 to 396.

Roscommon: €32,263,072 (H1 2017) €25,398,469 (H2 2016) - an increase of 27%;

Cavan: €45,326,802 (2017) €33,068,038 (2016)- and increase of 37%.

This study is based on an analysis of residential sales in the first half of 2017 compared to the first half of 2016. The figures are correct as of August 16th.

Angela Keegan, Managing Director of MyHome.ie said the overall increase in sales in the first six months was a move in the right direction for the property market.

“In 2016 there were over 48,000 house sales and we think that if current trends continue we should comfortably exceed 50,000 sales this year.

“The rise in sales and values in the commuter belt is the standout feature in these figures and indicates that the lack of supply of affordable houses is pushing buyers out of Dublin. We can see that the number of sales in Meath is up 43% while the value of transactions is up 47%. In Wicklow sales are up 21% while values are up 25%.”

“The downside of this trend and something which has been highlighted in recent reports is the increase in commuting times for people working in Dublin.”

“The impact of rising prices is also evident even in counties which recorded small increases in the number of sales. For example the number of sales fell in Galway by 1.4% but the value of those transactions was up 9%. Similarly in Limerick the number of sales was down marginally – 0.1% - but the value of those transactions was up 16.7%” she said.