Home News Laois house prices jump by 11% despite Covid-19 pandemic as supply falls

Laois house prices jump by 11% despite Covid-19 pandemic as supply falls

House Prices are on the rise
House Prices

The price of house in Laois has increased dramatically, the latest survey from DAFT.ie has found.

In Laois, prices in the final three months of 2020 were 11% higher than a year previously, compared to a fall of 2% seen a year ago.

The average price of a home is now €192,700, 86% above its lowest point.

The cost of a one bedroom apartment is now €93,000 (up 12.1%) while a a two-bedroom terraced house is €103,000 (Up 12.7%).

€138,000 (Up 8.6%) is what a three-bedroom semi detached house will set you back while the average four-bedroom bungalow is €276,000 (Up 11%).

Meanwhile the average five-bedroom detached house is €312,000 (Up 17.3%).

The national average listed price of housing rose by 7.4% in the year to December 2020.

Prices had fallen in the second quarter of the year but rebounded in the third quarter, before rising a further 2.2% in the final three months of the year.

The 7.4% year-on-year rise is the largest such increase in three years. The average sale price nationwide in the final quarter of 2020 was €269,522, up from €250,766 a year ago and up 64% from its lowest point in early 2013 and 27% lower than the Celtic Tiger peak.

Listed prices rose in all 54 markets contained in the Daft.ie Report in 2020, although there were significant differences around the country.

Areas with the largest increases span both urban and rural markets, with markets such as Dublin 8, Dublin 10, Kilkenny and Donegal all having prices more than 10% higher than a year ago.

The smallest year-on-year increases – less than 4% – were in Clare, Meath, central Dublin and Dublin 6, the country’s most expensive market, where prices are up just 1.7%.

The total number of properties available to buy on December 1 was less than 15,400, the lowest figure for stock nationally in almost 15 years.

This represents a fall of 31% nationwide, although there is a difference between Dublin – where stock on the market is down one fifth – and the rest of the country, where the number of homes to buy is down one third.

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