Thursday 23 May 2019

Louth sees 3% drop in house price

The price of the average three-bed semi in County Louth fell by 3.6% to €202,500 between January and March, according to a new survey.

House prices in the wee county are now at the same level as a year ago according to the House Price Survey carried out by Real Estate Alliance, with prices down in Drogheda in the first three months, while remaining stable in Dundalk.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.

'We are seeing a slow first quarter with few investors in the market and a decrease in viewing numbers,' said Darina Collins of REA O'Brien Collins, Drogheda, where the average price of a three-bed semi is currently €215,000, down from €230,000 at the end of 2018.

'We are finding that the market is price-sensitive and first-time buyers are tending towards interest in the supply of new homes in the area.'

The average semi-detached house nationally now costs €235,898, a fall of -0.16% on the Q4 2018 figure of €236,287.

The price of a three-bed semi-detached house in Dublin city has fallen by -1.7% since the end of December, wiping out the average €7,000 gains in value experienced throughout 2018. The price of the average three-bed semi-detached house in the capital's postcode districts now stands at €437,500. The highest annual increases (6.3%) were once again seen in the rest of the country's towns which rose in selling price by an average of €9,400 in the past year.

Drogheda Independent