Recovery is on as house prices rise in Longford

Jessica Thompson

Reporter:

Jessica Thompson

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jessica.thompson@longfordleader.ie

Average Louth house prices rise 4% in last three months

House prices continue to rise in Longford

The new year is certainly off to a good start in Longford, with local auctioneers feeling optimistic about the county's recovery.

The optimism comes as a result of a daft.ie housing report, published yesterday morning (Tuesday), that states housing prices have risen by almost 20% in the county since the same time last year - that's the highest increase in the country by a long shot.

“Things are definitely on the up, there’s no question about it,” local auctioneer, Fintan McGill told the Longford Leader yesterday morning, pointing out that Sherry Fitzgerald McGill have just acquired some high end Longford homes worth €400,000 - something that would have been unheard of this time last year.

Furthermore, Mr McGill is convinced it's time for more development in the area, and that Longford's ease of access to Dublin is something that should be used to the county's advantage.

“I think there’s definitely an opening for building to start again in Longford.

“There are eight or nine trains to Dublin daily and while the N4 extension won’t come for another couple of years, we’re in a great location for people going to Dublin.”

In fact, he added, with such high housing prices in the capital, Longford is a prime location for buyers.

“It would be great if we could get an express train between Longford and Dublin,” he said.

“Prices in Dublin are mad. I don't know how anyone could save up for a home while paying rent in Dublin.”

Another Longford auctioneer, Padraic Davis, agrees that there's a definite recovery on, but it's a slow one because, despite the 19.5% increase in housing prices, Longford prices are still the second lowest in the country.

“It’s good to see that there’s a bit of recovery happening,” said Mr Davis.

“We’re definitely heading in the right direction but there’s still a long way to go and I don’t think developers will come in and start building here yet with these low prices.

“But prices will continue to go forward and we’ll start to see more of a recovery and, in the next two to three years, I think developers will start to build in Longford again.”

The average house price in Longford is now €129,000. That's 53% above its lowest point.

Housing prices nationally rose by more than €20,000 on average during 2017, according to the latest House Price Report released by property website, Daft.ie.

With prices stable in the final quarter of the year, this means that the average price was almost €241,000. That's 9.2% higher than a year ago.

For the full housing report and an analysis by Trinity College Dublin economist, Ronan Lyons, see:

House prices rise by 19% in Longford - average house price is now €129,000