Longford housing prices see an increase of over 3%

The price of the average second-hand three-bed semi detached house in county Longford has increased to €202,000, up 3.6% in the last three months, according to a national survey by Real Estate Alliance.

The rise of €7,272 came after the value of the average three-bed semi stood at €194,728 last December, the Q1 REA Average House Price Index shows.

There was also a notable rise in counties Leitrim and Roscommon between December and March, where values jumped by 5.1% and 3.6% to €207,500 and €260,000 respectively.

Jackie White of Raymond White Auctioneering stated the market varies significantly in north county Longford and south county Longford.

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"Longford town is different to Lanesboro and Ballymahon, I'd agree with what they are saying but the averages are probably even more than that in the south of the county for sure,” she said.

"We have sold some three bed semis for €260,000 and €265,000 here in Ballymahon and that is real information.”

Jackie said buyers are very often bidding as high as possible for the right property as they are reluctant in many cases to carry out considerable renovations.

She explained people will go to the maximum of the limit when they are bidding when they want to purchase a suitable property they are keen on.

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“If there is no work to be done all the better because people very often are working so hard and their time is very precious,” she added.

Jackie stated the vast majority of people are reluctant to spend four or five months doing up a second hand three bed semi-detached home and if it is in good quality and refurbished or renovated to a high standard it is 'better again'.

The REA Average House Price Index concentrates on the 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.

The price of a three-bedroomed semi-detached house across the country rose by 2.5% in the past three months to €338,847, and 10% overall annually.

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The REA survey said the lack of new home building and historically low supply, has contributed to a significant price increase for three bed semi-detached homes prices of over 20% in areas such as county Roscommon, Offaly, Mayo, Donegal and Kerry.

Separately, another report from Daft.ie published on Tuesday found the average price of a house in county Longford is currently just below €218,000, while in county Roscommon it stands at over €222,000.

The average price of a house in county Leitrim was a little lower, at more than €203,000.

The report found house prices in the three counties increased by 14 per cent during the past 12 months.