Tuesday 26 September 2017

Dundalk sees confidence returning to market place

Dowth Hall Louth
Dowth Hall Louth

LOUTH

Dundalk, Drogheda,

Ardee, Dunleer

No change

One Year Forecast: Up 5%

Average Price: €130,000

Assessing Agent: Sherry Fitzgerald Carroll, Dundalk

The Market:

If confidence has returned to the market, it is concentrated in and around Dundalk. Sales remain far more sluggish throughout the hinterland towns such as Ardee and Dunleer.

Family homes are in particular demand and although investors are active, people intent on living in a particular area will usually win out as investors will only be prepared to pay so much for a property. If they don't get what they want, they simply move on to the next rental opportunity.

Prices in Drogheda normally command an additional 5-10% due to its proximity to Dublin.

A lot of would-be vendors continue to hold out for better prices and auctioneers say it is the resultant lack of supply rather than increased demand that is now driving up prices.

There is also widespread belief more properties would emerge if banks were prepared to come to some arrangement on the large number of negative equities in the area and this, in turn, would entice more buyers.

2014 is not expected to alter significantly except in some pockets of the county and for certain house types by around 5%, although there is some evidence of upward movement.

The Prices:

2-bed apartment:

Jan 2013: €75,000

Jan 2014: €75,000

Jan 2015: €79,000

3-bed terrace:

Jan 2013: €80,000

Jan 2014: €80,000

Jan 2015: €84,000

Ex-corporation 3-bed:

Jan 2013: €80,000

Jan 2014: €80,000

Jan 2015: €84,000

3-bed semi in town:

Jan 2013: €140,000

Jan 2014: €140,000

Jan 2015: €147,000

3-bed semi out of town:

Jan 2013: €130,000

Jan 2014: €130,000

Jan 2015: €137,000

4-bed semi in town:

Jan 2013: €180,000

Jan 2014: €180,000

Jan 2015: €189,000

4-bed semi out of town:

Jan 2013: €160,000

Jan 2014: €160,000

Jan 2015: €168,000

4-bed detached:

Jan 2013: €200,000

Jan 2014: €200,000

Jan 2015: €210,000

5-bed detached:

Jan 2013: €230,000

Jan 2014: €230,000

Jan 2015: €242,000

3-bed bungalow in town:

Jan 2013: €175,000

Jan 2014: €175,000

Jan 2015: €184,000

3-bed bungalow outside town:

Jan 2013: €150,000

Jan 2014: €150,000

Jan 2015: €158,000

4-bed bungalow in town:

Jan 2013: €200,000

Jan 2014: €200,000

Jan 2015: €210,000

4-bed bungalow outside town:

Jan 2013: €180,000

Jan 2014: €180,000

Jan 2015: €189,000

Detached 2,000+ sq ft:

Jan 2013: €275,000

Jan 2014: €275,000

Jan 2015: €289,000

Irish Independent

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