A new real-time price tracker on property website MyHome.ie reveals that house prices in Longford continue to drop.
The ‘Live Price Change’ feature – the first of its kind in Ireland – tracks the changing prices of properties on MyHome.ie in real time and provides them to the public on their website.
A survey of properties on the site from Co Longford reveal a large number of the lots offered for sale have seen the asking price drop since the new year, indicating that the property market has not yet levelled out.
Most alarmingly, most of the properties are dropping in price by more than ten percent. Many of these would have already been priced at significantly reduced rates to reflect market demand.
A number of lower priced properties continue to fall with a three bed semi-detached house at Palace Crescent on the Ballinalee Road in Longford town now for sale at just e47,500, a near 20 percent drop from the asking price of e59,000 sought in February.
Amongst some of the other more notable drops, a two bed detached house in Edgeworthstown situated on one acre has seen its asking price fall by a massive 30 percent from e100,000 to e70,000 in recent weeks.
Surprisingly, and given a glimmer of hope to the depressed property market in Longford, a number of properties have actually increased in asking price in the past month. Most notably, a fully finished four bedroom house in Woodland Park jumps by ten percent to e110,000. A property in Drumlish has also recently gone from an asking price of e189,000 to e200,000.
Angela Keegan, Managing Director of MyHome.ie said the new price tracker would provide users with a wealth of real time information as well as bringing much needed transparency to asking prices.
“The ‘Live Price Change’ feature will empower buyers and sellers alike by placing up to date, accurate and relevant information at their fingertips. Previously if buyers and sellers wanted to get good information about property prices in a given area they might ring around several agents or study property reports and sales information on the internet,” she said.