Property prices in Leitrim have risen by €5,000 in the last year, according to the latest MyHome.ie Property Report in association with Davy.
The report for Q2 2018 shows that the median asking price for a property in the county now stands at €115,000. This is up €5,000 or 4.6% from the previous quarter. It also represents a 0.5% increase on prices from this time last year when they stood at €114,462.
The latest price increase has left the asking price for a home in the county at its highest level in five years since it stood at €125,000 at the end of Q2 2013.
While the price of a 3-bed semi-detached house remained unchanged in the quarter at €95,000, the asking price was still up 11.8% from €85,000 a year ago. This means that prices for this house type in Leitrim are back at the level they were in Q4 2012.
There was a 3% increase in asking prices in the quarter in relation to 4-bed semi-detached houses in Leitrim. These were up €2,900 to €99,000. Despite this rise prices for this house type remain 13% behind where they were this time last year at €115,000.
The number of properties for sale in Co Leitrim on MyHome.ie has increased by 11% in the last quarter but remains 4.7% behind where it was this time last year.
The average time to go sale agreed on a property in the county now stands at just over 8.5 months.
The report found that while house prices are continuing to rise the rate of inflation is slowing, due in the main to tighter bank lending.
Asking prices rose nationally by 7.2% in the year to Q2 2018 – the slowest pace of inflation in two years – and down from 9.5% in Q1. In Dublin, asking price inflation has slowed to 6.8%, down from 11% at the turn of the year.
The median asking price for new sales nationally is €270K while in Dublin it’s €384K.
Also read: House prices on the increase in Leitrim