Saturday 21 September 2019

Laois: Commuters attracted to railway and affordability

Average Price: €115,000
Areas: Portlaoise, Portarlington, Abbeyleix, Mountmellick, Stradbally, Mountrath
Up: + 27%
One Year Forecast: + 10%
Assessing Agent: DNG Kelly

Laois has been performing strongly in terms of price and turnover.

More available credit, confidence returning to the market and a lack of good stock combined to produce an increase of 30pc in the cost of an average three-bed semi-detached through the last twelve months - the most typical property type.

167 The Glen, Kilnacourt Woods, Portarlington, sold in October 2013 for €74,500 and again in February 2014 for €72,500, a decrease of 2pc.
167 The Glen, Kilnacourt Woods, Portarlington, sold in October 2013 for €74,500 and again in February 2014 for €72,500, a decrease of 2pc.

Paul Kelly of DNG Kelly in Portlaoise adds: "Prices in Dublin and Kildare are so high now that people are coming to Laois for affordability."

Kelly says there is a lot of interest from commuters in Portarlington, which has good rail connections to all parts of the country.

Laois
House Types201420152016
3-bed semi in town, €77,000 €100,000 €110,000
4-bed semi in town, €85,000 €120,000 €132,000
4-bed detached, €105,000 €140,000 €154,500
3-bed bungalow in town, €80,000 €100,000 €110,000
3-bed bungalow outside town, €100,000 €150,000 €165,000
4-bed bungalow in town, €90,000 €115,000 €126,500
4-bed bungalow outside town, €110,000 €175,000 €192,500
"Detached 2,000+ sq ft", €250,000 €300,000 €330,000
1-bed apartment, €40,000 €65,000 €71,500
2-bed apartment, €45,000 €75,000 €82,500
3-bed terrace, €65,000 €85,000 €93,500
2-bed cottage, €60,000 €70,000 €77,000
Ex-corporation 2-bed, €30,000 €50,000 €55,000
Ex-corporation 3 bed, €35,000 €57,500 €63,500

Despite ongoing unemployment problems, Portlaoise has also seen strong price increases.

"There was no market at all for several years," explains Kelly, "and the recovery is really about the market finding its own level again.

PORTLAOISE: 3-bed semis near the centre of Portlaoise are being snapped up as soon as they come on the market.
PORTLAOISE: 3-bed semis near the centre of Portlaoise are being snapped up as soon as they come on the market.

"Four-bed family homes in town are highly sought after, and I can't get enough three-bed semis to meet the demand.

"Houses are selling to both locals and commuters. Investors now make up just 20pc and the cash buyer is definitely drying up."

Kelly has seen some very strong sales in 2014, compared to the fire sale prices that were achieved in 2013.

He cites the unusual example of two almost identical neighbouring houses in the same estate.

The first sold in a bank sale for €95,000 during 2013.

The second, with the benefit of an added conservatory/sun lounge, sold for €238,500 last year.

"One person really wanted it, and there were several interested."

Independent.ie Guide to House Prices in Ireland

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Irish Independent

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