The latest Daft.ie sales report shows that the average asking price of a house in Laois is now €239,000, 11% higher than what it was 12 months ago.
The figures are for the third quarter of 2022 but there are some signs that the market is beginning to stabalise.
The number of homes available to buy on September 1st stood at nearly 15,500, up 22% on the same date last year and the highest total nationally in almost two years.
The cost of a one bedroom apartment is now €104,000 (up 24% from the same point last year) and up €6,000 from three months ago.
A two-bedroom terraced house is €130,000 (Up 14.5%) and a €2,000 increase from three months ago.
€180,000 (Up 12.7% and a €5,000 increase from three months ago) is what a three-bedroom semi detached house will set you back.
The average four-bedroom bungalow is €344,000 (Up 11.1%) and €11,000 dearer than three months previous.
While the average five-bedroom detached house is €342,000 (Up 7.9%) but down €7,000 from three months ago.
Nationally housing prices were largely stable between June and September, according to the latest Daft.ie Sales Report released today by Ireland’s largest property website, daft.ie.
The average listed price nationwide in the third quarter of 2022 was €311,514, up 0.1% on the average for the second quarter of the year and 16% below the Celtic Tiger peak.
Due to increases in recent quarters, year-on-year inflation remains high at 7.7%, although this is down from 9.2% three months ago.
Compared to three months ago, prices were stable in Dublin but rose slightly in the other cities. Cork city prices rose by 0.2% and Limerick prices by 0.3%, while Galway prices rose by 0.5% and Waterford prices by 0.6% between the second and third quarters.
Outside the cities, prices rose in Leinster (by 1.1%) while they fell in both Munster (-0.7%) and Connacht-Ulster (-0.5%).
Despite the quarterly falls in many locations, year-on-year inflation remains positive in each city and county in Ireland – ranging from 5.4% in Meath to 16.8% in Donegal.
The number of homes available to buy on September 1st stood at nearly 15,500, up 22% on the same date last year and the highest total nationally in almost two years.
The increase in availability on the market is driven by Dublin (where it is up 30% year-on-year) and the rest of Leinster (up 40%), although stock on the market is also higher than a year ago in Munster (up 8%) and Connacht-Ulster (up 15%).
Commenting on the report, its author Ronan Lyons, economist at Trinity College Dublin, said: “Improved stock on the market over the course of 2022 has helped reduce inflationary pressures in the sales market.
“This is most notably the case in Dublin, where the total number of listings coming on to the market in the year to August was effectively in line with the pre-covid number.
“This has helped improve the stock on the market at any one point in time, the key predictor of future price changes.
“Elsewhere, while the number of listings and availability has improved, they remain in some markets well below the ten-year average.
“While weaker demand – due to inflation in other living expenses and to increases in interest rates – may help stabilise prices, the true solution to the high level of housing prices remains significantly increased supply, over years and indeed decades to come.”
SEE ALSO – Osborne the hero as Portlarlington keep quest for three in a row on track by edging out Portlaoise
