Leitrim house prices up by 6%

Property Reporter

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Property Reporter

Lowest house prices in Co Longford

Leitrim house prices have risen.

House prices nationally rose by 2.7% during the second quarter of 2018, according to the latest House Price Report released today by Ireland’s largest property website, Daft.ie.

The average price nationwide during the second quarter was €254,000, 5.6% higher than a year ago. Compared to their lowest point in 2013, prices nationwide have risen by an average of 54% or just over €89,000.

In Leitrim, prices in the second three months of 2018 were 6% higher than a year previously, compared to a rise of 4% seen a year ago. The average house price is now €132,000, 54% above its lowest point.

In Dublin, prices rose by 1.8% between March and June, meaning that the average price in the capital is now almost €155,000 higher than five years previously. Across each of the other major cities, prices rose substantially in the last three months – by 4.8% each in Limerick and Waterford cities and by 4.7% in Cork and 4.3% in Galway. Outside the main cities, prices rose by 3.2% in the same period, with the largest increases in Connacht-Ulster and the smallest in Munster.

The number of properties available to buy on the market nationwide has risen in recent months.

Commenting on the figures, Ronan Lyons, economist at Trinity College Dublin and author of the Daft.ie Report, said: “Ireland’s sales market for housing remains one of strong demand and relatively weak supply. That said, there are signs – in particular from the Dublin market – that new supply is having an effect, with increased availability on the market and a slowdown in inflation. While the increase in new homes built is welcome, it is predominantly in the form of housing estates. Almost all the new homes needed in the country are urban apartments, so the mix of supply remains a challenge for policymakers.”