Leitrim house prices continue to rise as demand outstrips supply

The price of the average second-hand three-bed semi-detached house in County Leitrim has risen by 1.7% in the past three months, bringing the average price to €211,000, according to the latest national survey from Real Estate Alliance (REA).

The REA Average House Price Index for Q2 shows that homes in Leitrim are now selling within an average of four weeks, as demand remains strong across the county.

In Carrick-on-Shannon, average prices rose by 0.8% this quarter to €242,000, with properties also typically selling within four weeks.

“The market continues to go from strength to strength in Leitrim,” said Joe Brady of REA Brady in Carrick-on-Shannon. “The summer has brought more listings and more buyers, including current residents of the county, young couples moving home, and some escaping to a quieter life in our county.”

In Carrigallen, average prices rose by 2.9% this quarter to €180,000, with selling times also averaging four weeks.

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“We are seeing very limited supply leading to steady and substantial demand,” said James Spring of REA Donohoe Spring, Carrigallen. “Combined with no new builds in the area, this leads to quick sale times and constantly increasing prices.”

The survey also shows that 53% of purchasers across the county were first-time buyers, while 33% of sales were attributed to landlords leaving the market.

Energy efficiency is also having a major impact on prices, with agents reporting that A-rated homes are commanding price increases of up to 45% over comparable C-rated properties in Leitrim.

Nationally, the actual selling price of a typical three-bed semi rose by 2.7% in the last three months to €347,912, an annual increase of 10.3%.

While Dublin city saw a 2.6% increase this quarter, REA agents noted a decline in first-time buyer activity in the capital. The average three-bed semi in Dublin is now €572,693, marking a 9% annual rise of nearly €50,000.

The sharpest increases this quarter were seen in the commuter belt around Dublin, where prices rose by 3.1% to €361,319, with towns like Newbridge, Naas, Maynooth, and Celbridge experiencing jumps of up to 5% in just three months.

Meanwhile, Cork city property prices reached €400,000 for the first time, with homes in Ireland’s major cities outside of Dublin rising by an average of 1.5% in the past three months to €360,605.

As across the country, properties with higher BER ratings are commanding significant premiums, with A-rated homes selling for an average of 16% more than their C-rated counterparts.

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