Longford is top destination for investors

Longford is top destination for investors

Longford is now regarded as one of the top investment destinations in the country.

This recent information  comes as  Longford town alongside Birr in Co Offaly, Ballina, Co Mayo, Dundalk, Co Louth, Galway, Waterford and parts of Dublin  are revealed to be among the top ten investor locations for new homes in the country.  

According to the Central Statistics Office (CSO), investors have bought more homes than first-time buyers in almost half of all the markets with 37.2% of Longford properties purchased by investors. 

These figures put pressure on the Government which is already grappling with a slow increase in delivery of new homes, coupled with political controversy over rising house prices and soaring rents which experts say are now at boom time levels. 

An analysis of the figures released where first time buyers purchased 10 or more units showed that sales were largely focused in commuter towns that served cities. 

The highest rate of sales for this cohort was in Dublin 22 which included Clondalkin where 70% of properties were sold to first time buyers. 

It was followed by Balbriggan, Co Dublin; Athenry, Co Galway; Ashbourne, Co Meath, Middleton, Co Cork; Mallow, Co Cork and Glanmire, Co Cork.  

In 11 other markets, more than 40% of the units were sold to first-time buyers, but as this group fled to the suburbs in search of a home, investors focused on homes in prime areas.

More that half of all properties purchased in Dublin 2 were bought by investors and 44% in Dublin 1.  

Meanwhile, the average price of a house in Longford stands at €107,000 while it’s slightly down on the same period last year in Co Westmeath at €162,344; €154,330 in Co Offaly and €149,519 in Co Laois.  

There was fewer than 5,300 properties for sale in Leinster in December and this, according to Daft.ie is a new low in a series that begun back in January 2009.  

The fraction of Leinster properties finding a buyer within four months is 59% up slightly on the same time last year.  

Although Longford house prices in the final three months of 2016 were 10% higher than a year previously, compared to a rise of 9% seen a year ago, the county remains the least expensive one in Ireland in which to buy a house.