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Midlands House Prices Soar By 5% - Daft Report

Friday, 29 September 2023 06:46

By Kamron Clarke @kamron_clarke

However, the cost of a home in the region is still far below the national average.

The average cost of a home in the midlands has jumped by nearly 5%.

The latest Daft report shows the typical price tag on a house in the region is €258,000, an increase of over €12,000 since the second quarter of the year.

Prospective homeowners who are mindful of their savings may be looking towards Laois, where you'll be met with an offer of €248,000 - the cheapest in the midlands.

That figure is €253,000 in Offaly, and €272,000 in Westmeath.

Nationally, the average price of a house is at €322,000.

Economist and author of the report Ronan Lyons says house price inflation is easing in urban areas, but the picture is different outside of the cities.

The number of houses for sale in Ireland at the start of this month fell by over 20 per cent compared to the same time last year.

The latest report from Daft.ie shows there was just under 12,200 homes for sale on the first of September which is around 3,300 less than the same day in 2022.

There are more than 800 properties on the market in the midlands - 324 in Westmeath, 270 in Laois, and 228 in Offaly.

Auctioneer Jeremy Murphy says first-time buyers are still extremely motivated to leave the rental sector:

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