Laois house prices soar again in just three months
The average price of a four-bed semi-detached home in Laois rose by €4,500 in just three months. File photo
PROPERTY prices in Laois have shot up again within the past three months, according to the latest report by MyHome.ie.
The report published this week shows that the average asking price for a four-bed semi-detached home in the county rose by €4,500, between July and September 2024.
A four-bed home in Laois costing €232,500 last June was priced at €237,000 by the end of September, the report by the national property website reveals. This is an increase of €2,000 compared to the same period last year.
The report for the third quarter of 2024, in association with Bank of Ireland, shows that the average asking price for a property in Laois is €215,000, an increase of €5,000 on the same period last year.
Meanwhile, the asking price of a three-bed semi-detached house in the county rose by €2,250 over the quarter to €212,250, which is a whopping increase of €12,250 compared to the third quarter of last year.
According to the report, the number of properties for sale in Laois fell to 137 between June and September this year, a decrease of 6% over the quarter.
The average time for a property to go sale agreed in the county is almost three and a half months, slightly above the national average of 12 weeks and close to a historic low.
Nationwide, the new report shows that house prices have increased by 7.5 per cent in the past year, with an average asking price of €365,000 from June-September 2024, an increase of 0.6 per cent on April-June 2024.
The report reveals that one in seven properties nationwide are selling for 20 per cent above the asking price The average asking price in Dublin is €455,000, while around the country the average is €315,000.
Inflation in asking prices is lower in Dublin at 6.2 per cent year-on-year but the rate is accelerating to 8.5 per cent outside the capital.
The property website report states that Ireland would need to deliver an additional 206,000 homes this year alone to match the UK’s housing to population ratio.
Commenting on the report, Bank of Ireland chief economist Conall MacCoille said: “Perhaps the most striking news since our last MyHome report is that Ireland’s population grew by 1.9% for a second successive year, to 5.38 million in 2024.
"We have not seen population and economic growth at this level since the Celtic tiger era and, as a result, the housing market is being put under intense pressure.”
