Jermaine Stewart

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Westmeath Records Third Highest Rise In House Prices In Ireland

It relates to figures for the second half of 2021.

Westmeath recorded the third highest rise in house prices in Ireland in the second half of last year.

A new report from the Institute of Property Auctioneers and Valuers reveals the extent of soaring costs across the country:

The overall average increase in property prices for 2021 was just short of 12 per cent.

The three midlands counties all experienced a rise in prices between July and December, compared to the first six months of the year.

Westmeath's was most severe at 10 per cent, with an 8.2 per cent jump in Offaly, and 4.9 per cent rise in Laois.

The average price of a 4-bed semi-detached home in Westmeath is now almost €267,000.

It's over €248,000 in Offaly, and €218,000 in Laois - all rising by between 5 and 11 per cent in the space of six months.

IPAV says buyers are under-pressure with a continued shortage of supply and very tight lending practices - with many properties being purchased from savings and parents contributing hugely to deposits for young buyers.

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