The average price of a second-hand, three-bed semi in Co Longford rose by 2.4% in the first three months of the year, according to the latest national survey by Real Estate Alliance.
The average cost of three-bed homes in the county is now €169,000, up from €165,000 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 countrywide.
Across County Longford, first-time buyers made up 50% of the market during Q1, while the average time taken to complete a sale in the county is now four weeks, down one from the previous quarter.
“The Longford market is still recovering from one of the deepest dives in the property crash. It is probably the market with the most head room to go higher in Ireland. New builds are not even close to being a factor,” said Joe Brady of REA Brady.
“Buyers at these price levels will not be disappointed.”
Across the rest of Ireland, the actual selling price of a three-bedroomed 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 increases 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.
The country’s large towns saw the largest quarterly increase at 1%, with prices now averaging €211,776 and properties selling faster at an average of five weeks, than in cities or commuter areas.
Nationally, first-time purchasers make up 60% of the market, the quarterly survey has found.
The actual selling price of a three-bedroomed 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%.
