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Midlands Property Prices Rose By 5% In 2023

Monday, 8 January 2024 10:33

By Kamron Clarke @kamron_clarke

The cost of a home in region is well below the national average.

The price of a home in the midlands rose by over 5% in 2023.

The latest MyHome.ie report shows the average cost of a house in the region at the end of last year was €219,000

However, this is well below the national figure of €325,000.

Laois offers the cheapest option for a property in the midlands, at €207,000 - the average price in both Offaly and Westmeath is €225,000

Chief Economist with Bank of Ireland Conall MacCoille believes the trend is likely to continue this year:

The number of properties for sale in the midlands fell by 9% in the final quarter of 2023.

There were 522 homes on the market in that period, according to the same report.

Westmeath had the highest number of available properties in the region, at 191.

That's followed by 171 in Laois, and 160 in Offaly.

The research also shows a 50% increase in the number of people earning over €100,000 annually, since 2022.

Mr. MacCoille says this is driving up demand:

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