The price of an average second-hand three-bed semi in County Louth has jumped by almost 10% in the past year, according to the latest national survey by Real Estate Alliance.
The average price now stands at €310,000 across the county – up 9.7% year-on-year and 0.8% in the past three months. Homes are selling quickly, taking just three weeks on average to go sale agreed.
In Drogheda, prices rose by 1.6% in the last quarter, with 80% of sales going to first-time buyers. “The majority of first-time buyers are opting to purchase new build homes and avail of green mortgages funding under the First Home and Help To Buy schemes,” said Darina Collins of REA O’Brien Collins, Drogheda.
In Dundalk, average prices have remained static this quarter at €295,000 – though that still represents an 11.3% annual increase. Enquiries slowed during Q3, according to Michael Gunne of REA Gunne Property.
Energy-efficient homes are also commanding higher values. Properties in Louth with a BER rating of A are now selling for around 20% more than those with a C rating, reflecting a growing demand for retrofitted and sustainable housing.
The figures come as Unite trade union, which represents construction workers across Ireland, warns that wage increases are essential if the country is to meet its housing needs.
Regional secretary Susan Fitzgerald said many workers still cannot afford the homes they are building, with up to 40% of apprentice members considering emigration. “We need further sustained wage increases coupled with improved working conditions if capacity bottlenecks are to be addressed,” she said.
Unite argues that the solution lies in better jobs and a greater role for the State in directly delivering housing. Regional officer James McCabe said housing construction “must be state-led rather than developer-led”, with new procurement rules ensuring good jobs and fair pay.
With the Government projecting an additional 80,000 workers will be needed to meet housing targets, the union insists that attracting and retaining skilled labour is key.
For Louth and East Meath, where demand from first-time buyers remains strong and prices continue to rise, the challenge will be ensuring enough affordable homes are built — and that the workers delivering them can afford to live in the communities they serve.
