Leitrim experiences gradual price increase amid rising property trends

The Residential Property Price Index has continued to increase according to figures released by the Central Statistics Office (CSO). The CSO figures have shown that there has been a national increase of 8.6 percent from June 2023.

In June 2024, the Revenue Commissioners recorded 3,563 dwelling purchases by households at market prices, a decrease of 11.5% compared to the 4,025 purchases in June 2023.

The lowest median price for dwellings was found in Longford at €169,000 followed by Leitrim at €170,000.

According to a June 2024 report by the Real Estate Alliance, the price of an average second-hand three-bed semi-detached house in County Leitrim rose to €189,500, marking an increase of nearly 2.4% from €185,000 three months earlier.

Carrick-on-Shannon prices rose 1.8 percent in Q2 to an average of €224,000.

This contrast highlights that while the median price for County Leitrim as a whole is lower, specific property types and locations such as Carrick-on-Shannon experience higher price increases reflecting a disparity in local housing market conditions.

The median property price in the F91 postcode area, which includes Sligo and North Leitrim, was found to be €200,000. Most transactions here were by a former owner-occupier.

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The overall median price in Leitrim shows a more modest increase compared to national trends. While the county’s property market is trending upwards, the growth is slower compared to other regions in the country.

The report states that the median price of a dwelling purchased in the 12 months to June 2024 was €337,500.

Nationally, property prices have increased by 147.1 percent compared to their lowest point which was in 2013.

There has been a shortage of second-hand properties for sale across the market, with the Midwest region seeing the biggest price increase. Clare, Limerick and Tipperary saw house price increases of 12 percent. 

Dublin property prices increased more sharply than the national average, rising by 8.6 percent over the 12 months leading up to the end of June, up from 8.2 percent in May.

Commenting on the Residential Property Price Index report, Rachel McGovern, Deputy Chief Executive at Brokers Ireland said: “The bottom line is, there are not enough homes available and at affordable prices.

“Demand and supply are way out of kilter and in this context it’s hardly surprising that house prices continue to edge higher.

“The Government’s own Housing Commission report published in May following two and a half year’s work by a panel of experts, provides the best set of solutions so far.

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“However, the jury is still out on when and if the seismic recommendations of that report will be implemented,” Ms McGovern concluded.