Home News Community Average price of a home in Laois increases once again to €215,000

Average price of a home in Laois increases once again to €215,000

House Prices are on the rise
House Prices

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

In Laois, prices in the first three months of 2021 were 11% higher than a year previously, compared to a rise of 9% seen a year ago.

The average price of a home is now €215,000, 107% above its lowest point.

The cost of a one bedroom apartment is now €83,000 (up 1.8% from the same point last year) but actually down from €85,000 three months ago.

A two-bedroom terraced house is €113,000 (Up 12.4%) and a €4,000 increase from three months ago.

€159,000 (Up 15% and a €11,000 increase from three months ago) is what a three-bedroom semi detached house will set you back.

The average four-bedroom bungalow is €310,000 (Up 13.8%) and €3,000 dearer than three months previous.

While the average five-bedroom detached house is €314,000 (Up 1%) but actually down €19,000 from three months ago.

Housing prices nationally rose by 1% between June and September and are now 9.1% higher than a year ago, according to the latest Daft.ie Sales Report.

The average price nationwide in the third quarter of 2021 was €287,704, 22% below the Celtic Tiger peak but three quarters above its lowest point in 2012.

The national trend hides regional differences. In Dublin, prices rose by 4.9% in the year to September, the slowest rate of inflation in a year.

In the other major cities, prices rose by similar magnitudes – from 3.1% year-on-year in Galway to 8.4% in Limerick city.

Outside the main cities, inflation remains significantly higher, with prices rising by an average of 12.9% year-on-year.

The largest annual increases were in Mayo and Leitrim, where prices are more than 20% above their level a year ago.

Outside the main cities, inflation remains significantly higher, with prices rising by an average of 12.9% year-on-year

The total number of properties available to buy on September 1st was just below 12,700, up slightly from levels recorded earlier in the year but one of the lowest figures recorded since the rise of advertising properties for sale online.

Despite an uptick in listings, the total availability of homes for sale nationwide on September 1st was one third lower than the same date a year earlier and a little over half the amount for sale in September 2019.

The stock available for sale in Dublin has fallen by less than the national average, down roughly one quarter year-on-year, while stock for sale in Leinster (outside the capital) is down by over 40%.

Commenting on the report, its author Ronan Lyons, economist at Trinity College Dublin, said: “The latest signals from the sales market suggest that, thankfully, the worst of the Covid-19 squeeze has passed.

“Inflation has eased a bit and there has been a modest improvement in the number of homes available to buy at any one point.

“Nonetheless, while the Covid-induced spike in market conditions may be passing, the underlying issues remain. The stock for sale remains well below pre-Covid-19 levels, while many parts of the country are still seeing prices that are at least 10% higher than a year ago.

“Additional supply remains key to solving Ireland’s chronic housing shortage and, with the pandemic appearing to be under control, housing remains a critical issue – economically and politically – for policymakers to address.

“The Government’s ‘Housing for All’ plan contains a welcome boost in social housing activity but construction costs, the key determinant of viability, do not appear to be on policymakers’ radars.”

SEE ALSO – Long-serving Laois county councillor announces retirement after 22-year local political career

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Stradbally native Alan Hartnett is a graduate of Knockbeg College who has worked in the local and national media since 2008. Alan has a BA in Economics, Politics and Law and an MA in Journalism from DCU. His happiest moment was when Jody Dillon scored THAT goal in the Laois senior football final in 2016.