Longford house prices are among the cheapest in the country
In the first six months of this year the average price of a 3-bed semi-detached house in Longford was €90,000, the lowest in the country, according to a new Residential Property Price Barometer published by IPAV, the Institute of Professional Auctioneers & Valuers, which represents over 1,100 auctioneers and valuers throughout Ireland.
This compares with a price for a similar property of €358,000 in North County Dublin and €511,667 in South County Dublin, the study finds.
It covers prices achieved for homes sold and will be published every six months.
A two bed apartment costs €52,000 in Longford while a four bed semi detached home in the county will set the buyer back by €236,667.
Pat Davitt, IPAV’s Chief Executive, said while the homeless numbers grow and second hand properties can be bought in several areas of the country for less that the cost of building them, some parts of the Dublin market are on the way to reaching or even topping the high levels last seen in 2007.
“This is what happens when stock is so scarce with just a small number of the larger builders developing,” he added.
“Up to 50pc of purchasers are still buying properties without a mortgage.”
Meanwhile, the cost of a three bed semi in Cavan is €125,000; €115,000 in Leitrim; €141,667 in Roscommon and €161,667 in Co Westmeath.