Leitrim property prices rise €5,550 in past year

Leitrim Observer Reporter

Reporter:

Leitrim Observer Reporter

Leitrim property prices rise €5,550 in past year

Leitrim property prices rise €5,550 in past year

Property prices in Leitrim have risen by €5,550 in the last year, according to the latest MyHome.ie Property Report in association with Davy.

The report for Q4 2018 shows that the median asking price for a property in the county now stands at €115,000. While this was unchanged from the previous quarter, it is a 5.1% increase on this time last year when they stood at €109,450.

 

The rise in prices was reflected in the asking price for a 3-bed semi-detached house in the county, which were up 4.9% in the quarter from €100,000 to €104,900. This contributed to an annual increase with prices well ahead of this time last year when they stood at €94,000.

Prices for this house type remain at their highest level in exactly seven years since they stood at €109,500 in Q2 2012. The asking price for a 4-bed semi-detached house in Leitrim rose by 2.1% in the last quarter from €97,000 to €99,000. Despite this prices were down 5.7% on this time last year when they stood at €104,950.

The number of properties for sale in Leitrim on MyHome.ie fell 3.8% in the last quarter but was up 7.7% on this time last year. The average time to go sale agreed on a property in the county now stands at six and a half months.

National picture

House prices nationally are expected to rise by around 5% in 2019 after slowing sharply in Q3 and stabilising in the last quarter of 2018 according to the latest house price report from MyHome.ie.

The report, which is published in association with Davy, predicts that robust demand and rising incomes will continue to push house prices higher once the uncertainty of Brexit has been resolved.

While asking prices nationally fell back by 0.9% and were unchanged in Dublin in Q4 – as per normal seasonal trends - the annual rate of inflation nationally was 6.1% while it was 3% in Dublin.

This means the median asking price for new sales nationally is €266K down €2K from the last quarter while the price in Dublin remains unchanged at €375K. Newly listed properties are seen as the most reliable indicator of future price movements.

Also read: Multi-million plan for Carrick-on-Shannon unveiled to public