Asking prices up 7.1 per cent
Published 12/07/2014 | 12:00
LOUTH property market hit the headlines again this week, with property website daft.ie releasing its latest analysis of house prices.
The results from the second quarter analysis revealed daft's findings that year on year asking prices in Louth have gone up 7.1% to €165,435 for an average house.
The results are good news for potential sellers, with daft also reporting the length of time it now takes to sell a house is reduced to four weeks.
With a wide range of prices for varying property types, daft also looked at what buyers can expect to face when it comes to Louth's property market.
A one bed apartment is selling for an average of €56,000, which is down 2% on the same period last year.
However, the survey showed that all other house types have increased in value over the last year.
A two-bed terraced property is likely to go on the market for around €75,000, which is an increase of 2%.
The hugely popular three bed semi-detached house also went up 2%, with an average asking price of €102,000.
The four bed bungalow types, which as was highlighted in last week's Argus is now one of the most sought after house types, also increased in value.
Typical asking prices for this bungalow type can be anything from €221,000, up 8.3 on the same quarter in 2013.
The large family homes which have previously struggled to sell in the local market have also begun to see added value.
The average five-bed detached house would be expected to hit the current market at €268,000.