House prices in Laois could see an increase of 10% over the next 12 months according to the Sunday Times’ latest ‘Nationwide Property Price Guide.’
That is double the predicted increase of 4.9% nationwide, and would represent the fourth-highest increase across Ireland.
House prices in Kerry could rise by up to 15%, while Laois is alongside Kilkenny and Waterford in seeing projected increases of 10%.
Neighbouring counties Offaly, Kildare and Carlow, meanwhile, are projected to see increases closer to 5%.
The overwhelming majority of counties are predicted to experience growth in values during 2024, with just a few areas remaining static, including Westmeath.
Estate agents across Ireland are predicting the following price increases in residential property values:
- Kerry – 4-15%
- Waterford – 10%
- Kilkenny – 8-10%
- Laois – 5-10%
- Roscommon – 7-8%
- North Tipperary – 7.5%
- North Cork – 6-7%
- Galway City – 5-7%
- Longford – 6%
- Cavan – 5%
- Cork City North – 5%
- East Cork – 5%
- Leitrim – 5%
- Mayo – 5%
- Offaly – 5%
- Sligo Town – 5%
- South Tipperary – 5%
- Wexford – 5%
- Meath – 4-5%
- Carlow – 3-5%
- Donegal – 3-5%
- Kildare – 3-5%
- Limerick City – 4%
- South Wicklow – 4%
- Galway – 2-5%
- Westmeath – 0-7%
- Cork City – 3%
- West Cork – 3%
- Limerick – 2-3%
- Louth – 0-5%
- North Wicklow – 2-3%
- Monaghan – 0%
The cost of building and renovating, the trickle of properties coming to the market along with the tightening of planning laws are all factors affecting price values.
There is strong competition for second hand homes with buyers willing to consider fixer-uppers despite the huge costs involved in renovation projects.
Second-hand bungalows are back on trend, appealing to downsizers in rural towns and villages across Ireland.
Motivated first time buyers are taking advantage of government incentives to get their foot on the property ladder.
However, many have reservations about the Vacant Property Refurbishment Grant given the 10-year occupancy clause or are underestimating the amount of work needed and the cost, while some are planning to tackle construction themselves.
Returning emigrants with savings and cash buyers from Dublin and commuter counties are pricing out locals from the area.
However, the National Broadband Plan has been a game changer for many rural counties as buyers seek more space, home office potential, and a better quality of life in rural counties and coastal areas.
The Property Price Guide 2024 reveals that the top five most affordable areas for three-bed semi-detached houses are:
- Mohill, Co Leitrim (€155,000)
- Ballinamore, Co Leitrim (€160,000)
- Castlerea, Co Roscommon (€160,000)
- Ballyconnell, Co Cavan (€160,000)
- Strokestown, Co Roscommon (€165,000)
The top five most expensive areas for three-bed semi-detached houses are:
- Greystones, North Co Wicklow (€605,000)
- Ballinlough, Cork City (€490,000)
- Model Farm Road, Cork City (€490,000)
- Naas, Co Kildare (€480,000)
- Blackrock, Cork City South (€475,000)
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