The latest Daft.ie sales report shows that house prices in Laois, were 8% higher than a year previously in the second quarter of 2024, compared to a rise of 4% seen a year ago.
According to Daft.ie’s House Price Report, the average price of a home is now €263,000, 7% below its Celtic Tiger peak.
In the same period nationally, housing prices rose by an average of 3.8%, with the typical listed price nationwide at €340,398.
That is 6.7% higher than in the same period a year earlier and 35% higher than at the onset of the covid19 pandemic.
In Laois, the cost of a one bedroom apartment is now €95,000 (down 1.2% from the same point last year) but up €2,000 from three months ago.
A two-bedroom terraced house is €131,000 (up 8.7%) and up €9,000 from three months ago.
€195,000 (up 6.3% and an €20,000 increase from three months ago) is what a three-bedroom semi detached house will set you back.
The average four-bedroom bungalow is €361,000 (up 3.3%) and €11,000 dearer than three months previous.
While the average five-bedroom detached house is €397,000 (up 15.2%) and up €41,000 from three months ago.
While the increase in the second quarter was broadly based, there remain notable differences in price trends across the country.
In Dublin, prices in the second quarter of the year were 4.7% higher than a year previously, while in Cork and Waterford cities, the increase was closer to 10%.
In Galway and Limerick cities, prices were more than 12% higher year-on-year.
A similar pattern holds for the rest of the country. In Leinster (outside Dublin), prices were up 6.1% year-on-year, while in Munster the increase was 10.4% and in Connacht-Ulster 6.2%.
But while almost all regions saw inflation tick up, compared to previous quarters, in Connacht-Ulster inflation is cooling slightly.
The number of second-hand homes available to buy nationwide on June 1st stood at just over 11,350, down 18% year-on-year and less than half the 2015-2019 average of almost 25,000.
Since the start of the year, there have been consistently fewer than 12,000 second-hand homes available to buy.
The only other time the market has been as tight, in a series extending back to 2007, is the period January-May 2022.
The full report is available from here and includes commentary by Ronan Lyons, Assistant Professor of Economics at Trinity College Dublin and author of the Daft.ie Report.
“The tightness in availability has put upward pressure on housing prices,” Professor Lyons said.
“As the figures show, inflation had peaked in late 2021, as that glut of savings found its way into the housing market.
“Inflation cooled from 13% in mid-2021 to just 2.6% in mid-2023. As of mid-2024, however, it is back to 6.7%. Where it goes next will depend on how fast second-hand supply recovers.”
SEE ALSO – Full list of properties sold in Laois during May as average house price rises to €250,000
