Thursday 8 December 2016

Price Guide: Offaly

Published 17/09/2010 | 15:51

Offaly has some of the cheapest apartments, townhouses and semi-detached houses in the country, with prices for each of these ranking within the top 10 cheapest properties for each property category.

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Average prices are estimated to have fallen by 35pc from peak levels within the county, although second-hand one and two-bedroom apartments are down 55pc and 57pc respectively, compared to new and second- hand four-bedroom detached houses that have fallen by 30pc and 29pc respectively.

There has been some improvement in sales activity in Offaly since last April, with the majority of sales involving first-time buyers, although there have been some sales to families trading up.

Enquiries and viewings are reported to be very active in Tullamore, yet there are few properties moving there and it is taking a long period of time for sales to be agreed. Some investors are “jumping ship” and are taking a hit on the value of the property and subsequently negotiating a settlement with their lender in the event that the sale price fails to clear the total outstanding debt.

There has been no significant change to stock levels in the county and there remains an oversupply of detached one-off houses. There is really no market for them at this point in time.

According to one agent, apart from only one unfinished estate in Tullamore, there is no great array of ghost estates in that area.

Sales activity is expected to remain relatively unchanged over the next six months, although there is hope that things should improve over the next 12 months.

New One-Bedroom Apartment

August 2010: €85,000

April 2010: n.a.

Peak Price: n.a.

Change Aug v Apr: n.a.

Change Aug 2010 v Peak: n.a.

Second-hand One-Bedroom Apartment

August 2010: €75,000

April 2010: €90,000

Peak Price: €165,000

Change Aug v Apr: -17pc

Change Aug 2010 v Peak: -55pc

New Two-Bedroom Apartment

August 2010: €95,000

April 2010: n.a.

Peak Price: n.a.

Change Aug v Apr: n.a.

Change Aug 2010 v Peak: n.a.

Second-hand Two-Bedroom Apartment

August 2010: €85,000

April 2010: €110,000

Peak Price: €197,500

Change Aug v Apr: -23pc

Change Aug 2010 v Peak: -57pc

New Two-Bedroom Townhouse

August 2010: €115,000

April 2010: €122,500

Peak Price: €215,000

Change Aug v Apr: -6pc

Change Aug 2010 v Peak: -47pc

Second-hand Two-Bedroom Townhouse

August 2010: €110,000

April 2010: €127,500

Peak Price: €210,000

Change Aug v Apr: -14pc

Change Aug 2010 v Peak: -48pc

New Three-Bedroom Townhouse

August 2010: €130,000

April 2010: €140,000

Peak Price: €225,000

Change Aug v Apr: -7pc

Change Aug 2010 v Peak: -42pc

Second-hand Three-Bedroom Townhouse

August 2010: €130,000

April 2010: €137,500

Peak Price: €225,000

Change Aug v Apr: -5pc

Change Aug 2010 v Peak: -42pc

New Three-Bedroom Semi-d

August 2010: €150,000

April 2010: €160,000

Peak Price: €257,500

Change Aug v Apr: -6pc

Change Aug 2010 v Peak: -42pc

Second-hand Three-Bedroom Semi-d

August 2010: €150,000

April 2010: €152,500

Peak Price: €260,000

Change Aug v Apr: -2pc

Change Aug 2010 v Peak: -42pc

New Four-Bedroom Semi-d

August 2010: €165,000

April 2010: €182,500

Peak Price: €292,500

Change Aug v Apr: -10pc

Change Aug 2010 v Peak: -44pc

Second-hand Four-Bedroom Semi-d

August 2010: €165,000

April 2010: €177,500

Peak Price: €290,000

Change Aug v Apr: -7pc

Change Aug 2010 v Peak: -43pc

New Four-Bedroom Detached

August 2010: €250,000

April 2010: €227,500

Peak Price: €355,000

Change Aug v Apr: 10pc

Change Aug 2010 v Peak: -30pc

Second-hand Four-Bedroom Detached

August 2010: €250,000

April 2010: €220,000

Peak Price: €350,000

Change Aug v Apr: 14pc

Change Aug 2010 v Peak: -29pc

New Five-Bedroom Detached

August 2010: €270,000

April 2010: €260,000

Peak Price: €390,000

Change Aug v Apr: 4pc

Change Aug 2010 v Peak: -31pc

Second-hand Five-Bedroom Detached

August 2010: €270,000

April 2010: €242,500

Peak Price: €410,000

Change Aug v Apr: 11pc

Change Aug 2010 v Peak: -34pc

Irish Independent

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