Leitrim’s property prices achieved the average 4pc price hike predicted 12 months ago by our experts on the ground and the forecast is for more substantial increase in values to the tune of 6pc for the year ahead.
A handful of property types like the three-bed semi, priced at €145,000, defied the trend and saw their values remain unchanged as buyers pushed themselves to look at larger homes with more amenities on offer.
In contrast, the four-bed bungalow outside town has risen in quite substantially in value from €178,000 to €200,000.
According to agent Liam Farrell of Sherry FitzGerald Farrell, the big impact of the pandemic in Leitrim has been to change the demand for the kind of homes people want to live in.
Covid 19 has made a difference in that it has caused people to re-evaluate their lives and stretch for larger homes they wouldn’t normally think about.
“For years, the three-bed semi was the most popular type, but now it’s been overtaken by the detached 2,000 sq ft house,” he says.
|3-BED SEMI IN TOWN||€140,000||€145,000||€155,000|
|3-bed Semi Out Of Town||€95,000||€100,000||€105,000|
|4-BED SEMI IN TOWN||€175,000||€170,000||€178,000|
|4-bed Semi Out Of Town||€118,000||€120,000||€128,000|
|3-bed Bungalow In Town||€190,000||€205,000||€215,000|
|3-bed Bungalow Outside Town||€158,000||€160,000||€170,000|
|4-bed Bungalow In Town||€243,000||€250,000||€265,000|
|4-bed Bungalow Outside Town||€178,000||€200,000||€210,000|
|Detached 2000+ Sq Ft||€270,000||€280,000||€295,000|
“These days, buyers view their purchase as a property for life and many are jumping right up to the one they want.”
Making that leap easier for buyers here is the fact that Leitrim is one of Ireland’s most affordable counties for property with a large detached home of 2,000 sq ft plus costing just €300,000.
As this trend continues, Farrell also reports a surge in interest from home and abroad.
“We’re getting more overseas enquiries than we’ve had in 20 years, with buyers lining up for cottages in obscure locations as holiday retreats.
Set on the Shannon Blueway, with outdoor activities on the doorstep, an hour from Ireland West Airport
"We’re also inundated with those who lease their own house in Dublin, seeking to rent here in Leitrim and then looking around them to see if they want to buy here.”