Sunday 17 December 2017

Signs of slow recovery after difficult year

Carrick on Shannon, Co Leitrim. Photo:James Connolly
Carrick on Shannon, Co Leitrim. Photo:James Connolly
Mark Keenan

Mark Keenan

LEITRIM

Carrick-on-Shannon, Mohill, Bawnboy, Rooskey, Manorhamilton

Down 2%

One Year Forecast: 6%

Average Price: €90,000

Assessing Agent: DNG Farrell, Carrick-on-Shannon

The Market:

An area that has taken a hammering over the past five years or so is beginning to show slow signs of recovery, albeit from a very low base.

Values remain up to 80% below the dizzy heights of 2007 and there is little prospect of recovery anytime soon but local agents are talking up the bottom. A difficult year, 2013 saw prices flat-lining or in the mid-priced properties, dropping 2%.

Demand for holiday homes along the Shannon remains resilient and there appears to be more interest from UK buyers in particular. The vast majority of sales are cash.

Carrick-on-Shannon has weathered the storm better than most because of its status as county town, the continued employment resulting from the Bank of America purchase of MBNA and the decentralisation of part of the Department of Social Welfare.

There remains a significant overhang of properties in areas that will be difficult to sell, such as Rooskey, which straddles the border with Co Roscommon, according to agent Liam Farrell.

There are plenty of properties for sale but in the wrong places. However, signs of improvement after a difficult year are visible.

The Prices:

1-bed apartment:

Jan 2013: €41,000

Jan 2014: €40,000

Jan 2015: €42,000

2-bed apartment:

Jan 2013: €51,000

Jan 2014: €50,000

Jan 2015: €53,000

3-bed terrace:

Jan 2013: €66,000

Jan 2014: €65,000

Jan 2015: €69,000

Ex-corporation 3-bed:

Jan 2013: €66,000

Jan 2014: €65,000

Jan 2015: €69,000

3-bed semi in town:

Jan 2013: €82,000

Jan 2014: €80,000

Jan 2015: €85,000

3-bed semi out of town:

Jan 2013: €66,000

Jan 2014: €65,000

Jan 2015: €69,000

4-bed semi in town:

Jan 2013: €112,000

Jan 2014: €110,000

Jan 2015: €117,000

4-bed semi out of town:

Jan 2013: €92,000

Jan 2014: €90,000

Jan 2015: €95,000

4-bed detached:

Jan 2013: €132,000

Jan 2014: €130,000

Jan 2015: €138,000

5-bed detached:

Jan 2013: €163,000

Jan 2014: €160,000

Jan 2015: €170,000

3-bed bungalow in town:

Jan 2013: €92,000

Jan 2014: €90,000

Jan 2015: €95,000

4-bed bungalow in town:

Jan 2013: €122,000

Jan 2014: €120,000

Jan 2015: €127,000

4-bed bungalow outside town:

Jan 2013: €107,000

Jan 2014: €105,000

Jan 2015: €111,000

Detached 2000+ sq ft:

Jan 2013: €184,000

Jan 2014: €180,000

Jan 2015: €191,000

Irish Independent

Promoted Links

Life Newsletter

Our digest of the week's juiciest lifestyle titbits.

Promoted Links

Editors Choice

Also in Life