€1k rise in Longford house prices

News Reporter


News Reporter



Longford House Prices

Longford house prices have risen by €1,000 over the last 12 months.

Property prices in Longford have risen by €1,000 in the last year, according to the latest MyHome.ie Property Report in association with Davy.

Despite the annual increase, the report for Q1 2018 shows that the median asking price for a property in the county declined by 4.8% in the first three months of the year - the largest quarterly decline nationally.

That saw prices fall back from €105,000 to €100,000. Despite this decline, prices were still 1% ahead of this time last year when they stood at €99,000.

The fall means that Longford remains the cheapest county to buy a property in in Ireland.

While overall prices fell, the asking price for a 3-bed semi-detached house in the county remained unchanged in the first quarter at €75,000.
This was also up 7.1% year-on-year from a level of €70,000 this time last year, leaving prices at their highest level in four and a half years since hitting the €85,000 mark in Q3 2013.

The asking price for a 4-bed semi in Longford also remained unchanged in the first quarter of the year at €100,000.

This is up 25% on this time last year when the asking price stood at €80,000.
Prices for this house type in the county remains at its highest level in four years.

In the case of 4-bed semis, Longford properties are €3,000 more expensive than those in Leitrim.

The number of properties for sale in Co Longford on MyHome.ie has fallen by 24.5% in the last year as stock levels across the country remain an issue.

The average time to go 'sale agreed' on a property in the county now stands at just over 4 and a half months.

The report found that the prices of newly listed properties nationally rose by 4.8% in Q1 while prices in Dublin rose by 3.3%.
Listed properties are seen as the most reliable indicator of future price movements.

The median asking price for new sales nationally is €260,000 while in Dublin it’s €345,000. The figure for outside Dublin is €210,000. Nationally, asking prices are up 9.5% on the year, while in Dublin price inflation is 8.2%.
The author of the report, Conall MacCoille, Chief Economist at Davy, said that while house price inflation would remain close to 10% outside Dublin for 2018, stretched affordability in the capital and a pick-up in housing supply suggested the rate of inflation would continue to moderate.

Full details of the report can be found at www.myhome.ie/reports.

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