08 Aug 2022

Average Leitrim house prices rise 3.78%

Real Estate Alliance survey

Average Leitrim house prices rise 3.78%

The price of the average three-bed semi in Co. Leitrim has risen 3.78% to €89,250 in the last three months, according to a national survey carried out by Real Estate Alliance.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the property market in towns and cities countrywide to the end of Q3 this week.

“We have witnessed an increase in mortgage buyers but there is still limited supply in the area,” said James Spring from REA Peter Donohoe in Carrigallen.

“There is a shortage of stock, particularly in the three-bed semi space,” said Joe Brady from REA Brady in Carrick-on-Shannon.

“Bottom price in some estates are solid at €70,000 with the very best ones in Carrick-on-Shannon hitting €135,000.

“We are seeing fewer cash buyers as prices have risen and as mortgage finance for first-time buyers has become more available.

“Cash buyers now would represent about 40% of our market for three-bed semis. That percentage goes down as the prices go up.”

The average three bed semi nationally now costs €200,093, an increase of €4,732 (+2.42%) since the end of June. This is a rise of 6.37% against the same time last year.

Prices in Dublin city grew by +2.75% to €373,333 since June – almost twice the growth experienced in the same area in Q2 as buyers chase a scarce supply of suitable housing.

Prices in the tier containing commuter counties and the main cities of Cork and Galway have risen by an average of just under €3,000 to €217,176 (+1.21%) while those in the rest of the country have increased by nearly €5,000 to €133,268 (+3.55%).

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