The average price of a second hand three bed semi detached home in County Louth has risen to €315,000, according to the latest REA national survey.
The figures show a 0.8 per cent increase over the past three months, with homes in the county typically reaching sale agreed within three weeks.
In Drogheda, prices increased by 1.5 per cent during the same period, bringing the average price to €330,000. In Dundalk, prices remained steady at €300,000.
“There was a slow start to the year in terms of properties coming to market, however we have seen this picking up a little during the last two weeks,” said Darina Collins of REA O’Brien Collins in Drogheda.
The survey found that first time buyers continue to make up the majority of the market in Louth, accounting for 75 per cent of purchases. Around 15 per cent of sales were linked to landlords exiting the market.
Energy efficiency is also playing a growing role in property values. The report found that A rated homes are achieving price increases of up to 20 per cent compared to C rated properties in the county.
Nationally, the average price of a three bed semi detached house rose by 1.5 per cent over the last three months to €364,747. This represents an annual increase of 7.67 per cent, a slight slowdown from the 9 per cent growth recorded six months ago.
In Dublin, prices rose by 1.6 per cent in the past quarter, with the average home now selling for €595,453. First time buyer activity in the capital has dropped from 50 per cent to 39 per cent over the past six months, with uncertainty around rental legislation cited as a factor.
Outside Dublin, prices in major cities increased by 1.2 per cent to an average of €378,250, with homes taking around four weeks to sell.
In large towns, prices rose by 2 per cent this quarter and 9 per cent over the year to €281,287, while commuter counties saw a 1 per cent increase to €377,185.
The REA Average House Price Index tracks the sale price of a typical three bed semi detached home, offering a snapshot of the second hand property market across towns and cities nationwide.
