This impressive home at 28 Glas na hAbhainn, Carrick-on-Shannon is presently on the market with an AMV of €349,000
The following is an article written by local auctioneer Joe Brady offering advice on the property market in Leitrim in the coming year:
First off and to be very clear, I’m completely bias and a cheerleader for Co Leitrim. So I will try to focus on facts and not on the “I love Leitrim, it’s a great place to live, a great place to have your family” bit.
Fact No. 1: As of December 2022 we have still not hit the price highs of 2006, (16 years later).
Fact No. 2: We are still selling all of our homes below the cost of construction. This is clearly evidenced by the fact that no new home building for private sale is happening in the county.
Fact No. 3: The broadband rollout is moving forward at a good pace. The black spots are now fewer and further between them. Working from home is a realistic option in Co Leitrim and is proving to be a very attractive option for many families looking to move out of Dublin and other urban centres.
Fact No. 4: Housing supply is currently getting tighter. Until there are new builds or a significant repurposing of old stock (e.g. town centre) that situation will persist.
Fact No. 5: Rents have risen significantly and are still rising in Leitrim. The economics of renting versus buying are clearly pointing to the good sense of buying.
Fact No. 6: We have a low level of unemployment, rising wages and a net influx of workers to Co. Leitrim.
All of these facts point to increased demand, limited supply, rising prices and a delay in the provision of new supply. I think that a three bed semi (in eg Carrick-on -Shannon) has to get to €275,000 before a builder will consider building some for profit.
The last one we sold made €236,000, that was for a very clean and large three bed semi in Dun Ri, Carrick-on -Shannon.
I have already predicted property value increases of 8 to 10% for 2023 for our market. So, if you’re on the fence, now would be a good time to get off it. If you are renting, you’re burning cash and if it is your final intention to own your own home, don’t be too fussy, don’t wait for the perfect dream house, if it’s not there in short order, buy the next best thing, get on the ladder and at least you will have insulated yourself from further price increases.
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