The price of the average second-hand three-bed semi in county Louth has risen by 9.7pc in the last year, according to a national survey by Real Estate Alliance.

The average selling price of a three-bed semi-detached is now €310,000 across the county, a rise of 0.8pc in the past three months, with homes taking an average of three weeks to reach sale agreed.

The REA survey also found that properties in Louth with a BER rating of A commanded an average 20pc premium over C-rated stock – reflecting the rising attractiveness of retrofitted homes.

In Drogheda, average prices this quarter rose 1.6pc with 80pc of sales to first-time buyers, the REA Average House Price Index shows.

“The majority of first-time buyers are opting to purchase new build homes and avail of green mortgages funding under the First Home and Help To Buy schemes,” said Darina Collins of REA O’Brien Collins, Drogheda.

The average price in Dundalk has stayed static this quarter at €295,000 – an 11.3pc annual increase, with enquiries slowing in a quieter Q3 according to Michael Gunne of REA Gunne Property, Dundalk.

The REA Average House Price Index concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

The announcement of a nationwide rent pressure zone has triggered a sharp increase in landlords exiting the housing market, the survey showed.

The Government’s announcement in June was followed by an immediate spike in landlord sales in many areas now included in the legislation.

REA agents in Carlow, Kerry and Waterford have reported that over 40pc of their sales are attributable to landlords in the past three months – with that figure rising to 60pc in Limerick city and 80pc in Nenagh.

The actual selling price of a three-bed, semi-detached house across the country rose by 1.6pc in the past three months to €353,458, a 9.1pc overall rise annually.

The rate of increase in Dublin has more than halved in the past three months, with REA agents reporting a marked drop in viewings in the capital and homes now taking five weeks or more to reach sale agreed.

Selling prices in Ireland’s major cities outside Dublin rose by 2.2pc to an average of €368,492 – an 8pc annual increase.

Homes in the country’s large towns continue to show growth nationwide, 2.2pc this quarter and 10.7pc on last September to an average of €269,199.