Wednesday 27 September 2017

Little sign of upturn in Monaghan as prices fall

Clones, Co Monaghan. Photo:REUTERS/Cathal McNaughton
Clones, Co Monaghan. Photo:REUTERS/Cathal McNaughton

Monaghan

Monaghan Town, Castleblayney, Carrickmacross, Clones

Down: 14%

One Year Forecast: Up 2%

Average Price: €95,000

Assessing Agent: Gunne, Carrickmacross

The Market:

Agents cite a notable improvement in the second half of the year but only in inquiries about lower-price properties. Prices remain stagnant or falling.

There has been significant interest among first-time buyers who were originally immigrants to the area but who have now settled and are moving from rental accommodation.

More than 50% of sales remain cash but there has been a significant pick-up in mortgages, albeit they appear difficult and time-consuming to obtain.

It would take a very special property to fetch more than €200,000. Banks are continuing to drip properties onto the market and there is plenty of every kind of house available.

Although there is little overhang from the boom years in the main centres of population – Monaghan Town, Carrickmacross and Castleblayney – there is little sign of any improvement in prices for the foreseeable future.

The Prices:

2-bed apartment:

Jan 2013: €64,000

Jan 2014: €50,000

Jan 2015: €51,000

3-bed terrace:

Jan 2013: €87,000

Jan 2014: €75,000

Jan 2015: €76,000

3-bed semi in town:

Jan 2013: €110,000

Jan 2014: €95,000

Jan 2015: €97,000

4-bed semi in town:

Jan 2013: €145,000

Jan 2014: €125,000

Jan 2015: €127,000

3-bed bungalow in town:

Jan 2013: €197,000

Jan 2014: €170,000

Jan 2015: €173,000

3-bed bungalow outside town:

Jan 2013: €151,000

Jan 2014: €130,000

Jan 2015: €133,000

4-bed bungalow in town:

Jan 2013: €210,000

Jan 2014: €180,000

Jan 2015: €184,000

4-bed bungalow outside town:

Jan 2013: €163,000

Jan 2014: €140,000

Jan 2015: €143,000

Detached 2,000+ sq ft rural half acre

Jan 2013: €290,000

Jan 2014: €250,000

Jan 2015: €255,000

Irish Independent

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