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House prices in Laois rise again as available homes to buy at ‘all time low’

House Prices are on the rise
House Prices

The latest Daft.ie sales report shows that the average asking price of a house in Laois is now €248,000, 5% higher than what it was 12 months ago.

This is compared to a rise of % seen a year ago. The average price of a home is now 12% below its Celtic Tiger peak.

The figures are for the first quarter of 2024 and the number of homes available to buy is at an ‘all-time low’.

The number of homes available to buy nationwide on March 1 stood at below 10,500.

This is down 24% year-on-year and represents a new all-time low for the series which extends back to January 2007.

The number of homes to buy currently is just 40% of the 2019 average.

The fall in availability affects all major regions of the country and started in mid-2023, after twelve consecutive months of recovering availability following lockdowns.

In Laois, the cost of a one bedroom apartment is now €93,000 (down 8.7% from the same point last year) but up €3,000 from three months ago.

A two-bedroom terraced house is €132,000 (up 7%) and up €1,000 from three months ago.

€175,000 (up 3.1% but an €11,000 decrease from three months ago) is what a three-bedroom semi detached house will set you back.

The average four-bedroom bungalow is €350,000 (up 4.2%) and €1,000 dearer than three months previous.

While the average five-bedroom detached house is €356,000 (up 9%) but down €17,000 from three months ago.

Nationally, housing prices rose by an average of 1.8% in the first three months of 2024.

The typical listed price nationwide in the first quarter of 2024 was €326,469, 5.8% higher than in the same period a year earlier and 30% higher than at the onset of the covid19 pandemic.

Significant differences in trends across the country persist, with increases in general lower in and close to Dublin.

Prices in the capital were 3.2% higher in the first quarter of 2024 than a year previously, while in the rest of Leinster, the increase was 5%.

Cork City saw prices rise by 7.3% year-on-year, while Galway city saw an increase of 9.4%. Increases in Waterford and Limerick cities were both just over 10%.

Elsewhere, prices in Munster (outside the cities) were 10.9% higher and up 6.7% in Connacht-Ulster in early 2024 compared to a year earlier.

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