House prices continue to fall

Average house price in Leitrim
is now €98,754

The average house price in Leitrim at the last quarter of 2012 was €98,754 and this was down 19.9% on 2011 according to Daft.ie.

The average house price in Leitrim at the last quarter of 2012 was €98,754 and this was down 19.9% on 2011 according to Daft.ie.

Although prices are beginning to stabilise in Dublin and cities, Connacht and Ulster are still seeing price drops. The average price of one bedroom house in Leitrim is €45,388, two bed: €51,083, three bed: €67,127, four bed €93,350 and five bed €100,308.

Looking towards 2013, the economists on Daft.ie say that in Connacht Ulster there still remains a large over supply of houses and until they are gone, the market should continue to fall.

However, it is clear that the end of mortgage interest relief may have an adverse impact on the market in the first half of the year. Effectively, some of the demand from 2013 was stolen and crammed into 2012 instead.

Nonetheless, levelling the playing field between buying and renting long-term is an important step in creating a healthy property market. As is an annual property tax, which is effectively replacing Celtic Tiger-era stamp duty.

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