House prices rise again in Leitrim

The average price of a second-hand, three-bed semi in Co Leitrim rose by 1.2% in the first three months of the year, according to the latest national survey by the Real Estate Alliance.

Three-bed homes in the county now cost €171,500, up from €169,500 in December 2022, the Q1 REA Average House Price Index shows. By concentrating on the actual sale price of three-bed semis, the survey provides an up-to-date picture of the second-hand property market in towns and cities nationwide. Across Co Leitrim, first-time buyers made up 57% of the market during Q1 with 23% coming from buyers moving out of the cities.

The average time it takes to complete a sale in the county is now five weeks, one week longer than the last quarter, the survey shows. The average cost of a three-bed in Carrick-on-Shannon rose from €204,000 to €208,000, up 1.96% from the previous quarter, with the time to sell remaining the same at five weeks.

“The market has been vibrant since the beginning of the year. Take up of all residential categories has been good. Owner occupiers continue to dominate. “Still no new builds in Leitrim or North Roscommon, however,” said Joe Brady of REA Brady, Carrick-on-Shannon.

In Carrigallen, the average price for a three-bed semi remained static at €135,000, with time to sell this quarter also staying the same at four weeks. Carrigallen is less commutable for nearby towns of Cavan, Longford, Carrick-on-Shannon, so numbers are low. Despite this, it has been a solid start to the year with good demand.

“There is still a lack of properties on the market, however,” said James Spring of REA Donohoe Spring, Carrigallen.

Across the rest of Ireland, the actual selling price of a three-bedroom semi-detached rose by 0.6% over the past three months to €293,343 – representing an annual increase of 5.3%.

House prices in Dublin recovered after a pre-Christmas fall and rose by 0.5% to €498,333 in the past three months, slightly exceeding last September’s prices and showing an annual rise of 3.5%.

Mirroring the capital, cities outside Dublin experienced a 0.4% rise to an average selling price of €310,250. The smallest percentage increase came in commuter counties where average prices went from €312,778 to €313,056 – a rise of just 0.1% on average over three months.

Nationally, first-time purchasers make up 60% of the market, the quarterly survey has found.

The actual selling price of a three-bedroom semi-detached house across the country rose by 0.6% over the past three months to €293,343 – representing an annual increase of 5.3%.


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Andrew Naughtie

News reporter and author at @websalespromo