The price of three-bedroom residential properties in Longford increased for the first time in three-and-a-half years in the last quarter of 2014, according to a report published by property website MyHome.ie.
The report found that last year was the best year for house price growth in seven years, with further increases predicted for 2015.
According to the study, the average price of three-bed semi-detached properties in the county rose by 2.4 per cent to €65,000. This was the first time housing of this type experienced an increase in value since the second quarter of 2011, although the annual rate of decline of 13.3 per cent was the fifth largest nationally.
The average price of four-bedroom semi-detached homes in Longford remained unchanged at €75,000 during the same period, while the annual rate of decline for this house type was 37.5 per cent - the highest in the country. It was the first time the price had remained stable for two consecutive quarters.
The MyHome.ie report also found that Longford remains the cheapest county in the country in which to buy a home.
“The fact the price of three-bed semis rose in 13 counties and remained unchanged in a further eight counties provides further evidence that prices are stabilising and the property recover is spreading from urban areas, said MyHome.ie’s Managing Director, Angela Keegan. “While consumer confidence is clearly returning, it’s also clear that supply issues need to be addressed as a matter of urgency in several regions, especially Dublin, Cork, and Galway.”