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House Prices Starting To Fall

Monday, 26 June 2023 06:55

Just one of the midlands counties saw prices rise year on year.

House prices cost less in many counties now than they did a year ago.

That's according to the latest Daft.ie house price report out today, which shows nationally prices are 0.5% cheaper than last year.

It's the first time in three years that house prices have fallen, while the number of homes for sale is up by five percent.

In the midlands, prices have fallen slightly in Laois and Westmeath at 0.1% and 0.7% less than this time last year respectively.

However Offaly saw a 2.6% increase in 12 months.

The average price of a home in Laois is €235,000, in Westmeath it's €259,000, and in Offaly it's €243,000.

There were just over 3,400 properties on the market in Leinster (outside Dublin) on June 1, up 16% on the same date a year ago.

Economist at Trinity College and author of the report Ronan Lyons says we're seeing something of a seesaw effect:

A group representing auctioneers and estate agents say interest in residential properties remains strong.

CEO of the Institute of Professional Auctioneers and Valuers, Castlepollard's Pat Davitt, says interest from home buyers is currently strong:

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