10% Jump In Midlands House Prices In The Last Year

Some bleak findings have come out of three property reports today.

There's been a 10 per cent jump in house prices across the midlands in the last year.

The rising cost of housing shows no sign of slowing down, according to three property reports released today.

The median asking price for a three-bed semi-detached house in the region is now just over €183,000, according to new research from myhome.ie.

Westmeath recorded the highest year-on-year increase of 11.4 per cent - it remains the most expensive county, with an average asking price of €195,000.

It's €180,000 in Laois and €175,000 in Offaly - after respective 9.1 and 9.4 per cent rises.

The three counties have all recorded a 2 per cent increase since December, according to daft.ie.

While the new REA Average House Price Survey has found house prices are increasing at an average of almost 100 euro a day.

MyHome and Daft are also warning the number of units available on their sites reached new lows since the new year.

An imbalance in supply and demand is creating "a perfect storm" for house prices in the midlands.

That's according to the Real Estates Alliances, as its new research shows the average cost of a three-bed, semi in the region is now over 232,000 euro.

Prices in Westmeath have increased by 4.1 per cent since December, 1.5 per cent in Offaly, and remain unchanged in Laois.

However, REA spokesperson Barry McDonald says an ebb and flow in the market means no county is unaffected:

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