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Price for Dundalk three bed semi up €10,000 last quarter

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The price of the average second-hand three-bed semi in County Louth has risen by 5% to €265,000 in the last three months, according to a national survey by Real Estate Alliance.

The REA Average House Price Index has shown that 70% of sales in the county are to first-time buyers, with 50% of all purchasers coming from outside the area.

Prices in Drogheda rose by €15,000 to €280,000, an increase of 5.7%, with 80% of sales to first-time buyers and 60% of purchasers coming from outside the area.

“We have seen a noticeable increase in non-Irish buyers across both second-hand and new homes,” said Darina Collins of REA O’Brien Collins, Drogheda.

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Dundalk prices saw an increase of €10,000 to €250,000 this quarter, a rise of 4.2%, with first-time buyers representing 60% of sales and 40% of buyers coming from outside the area.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

A marked increase in private landlords selling their properties nationally has increased supply levels and tempered price rises in some areas.

The price of a three-bedroomed semi-detached house across the country rose by 2.9% over the past three months to €286,611 – representing an annual increase of 13%.

58% of all purchasers in the past quarter were first-time buyers according to REA, a figure which rose to 78% in Dublin as people with mortgage approval scramble to get on the housing ladder.

The highest segment increase in Q2 was in cities outside the capital, which saw a 3.3% rise to an average selling price of €298,750.

Commuter counties saw prices increase by 2.3% – a jump of €6,833 to €311,833.

In the rest of the country, where prices rose 3.2% to €202,897, the survey found that one in every three buyers were from outside the county, with 50% first-time purchasers, as new working conditions enable a rethink on home bases.


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