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Monday, 10th January 2022

Price of a three bed semi in County Louth rose by 21% last year

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The price  of the average three-bed semi in county Louth has risen by 21% in the last year and is expected to increase by another 5% in the next twelve months, according to a survey by Real Estate Alliance.

The average three-bed semi now costs an average of €245,000 in the wee county, up from €202,500, the REA Average House Price Index shows.

The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide.

Landlords exiting the market have accounted for almost one in four home sales over the past three months, the data shows.

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Prices in Drogheda currently average €260,000, remaining static in the last quarter of 2021, but representing a 20.9% increase on prices at the end of 2020. 

Darina Collins of REA O’Brien Collins, Drogheda says that she expects the supply of second hand homes will continue to be an issue but that new homes, will continue to sell strongly. 

 “We have seen a noticeable fall-off in demand for 'do-er uppers' as a result of building materials and labour cost inflation” she said.  Prices in Dundalk rose by 21% annually to €230,000 at the end of December.

Countrywide, the price of a three-bedroomed semi-detached house across the country rose by €5,900 over the past three months to €269,963 – representing an annual increase of 13%.

Selling prices in the last quarter rose 3.34% in commuter areas and the country’s large towns (2.57%) as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.

The commuter area increases are treble those in Ireland’s major cities, with Dublin increasing by 1% and Cork Limerick and Galway by an average of 0.8% as agents reported a quieter quarter.

In Dublin city, house prices rose by over €4,000 in Q4, compared to more than €10,000 in Q3, increasing from €467,000 in September to a present rate of €471,667.

Three bed semis in commuter counties rose 3.34% by over €9,000 in the past three months to an average of €291,944 – with the average home selling in just three weeks.

As the flight to rural locations continues, prices in the rest of the country’s towns rose by 2.6% in Q3 to €190,138.

Cork, Limerick, Galway and Waterford cities shared a combined increase of 0.8% in the past 12 weeks with the average three bed semi now costing €283,000.

While Cork (€335,000), Galway (€302,000) and Waterford (€250,000) were relatively static, prices in Limerick rose by 2.1% to €245,000.

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