- Most affordable homes are located in Leitrim, Longford and Sligo where 3-bed semis can be bought for as little as €90,000
- Border towns showed the highest rise in median prices during 2019 (up 10.1%)
- Huge disparity across the country with the equivalent three-bedroom property costing €450,000 in places like Greystones, Co Wicklow and €330,000 in Ashbourne, Co Meath
Estate agents are signalling a solid year for national property prices with values outside of Dublin rising at twice the rate of those in the capital, according to the 2020 Sunday Times National Property Price Guide, a dedicated 32-page supplement that will be published free with The Sunday Times Sunday, 12 January. Its findings indicate estate agents are also cautiously optimistic about house prices in the year ahead.
Now in its 17th year, The Sunday Times Property Price Guide is the authoritative guide to the Irish property market, featuring interviews with a number of estate agents nationwide, who outline their predictions for the year ahead.
This year’s guide indicates that estate agents expect average prices to rise by 3.8% across the 25 counties – more than double the 1.6% increase expected in Dublin.
The most affordable three-bedroom semi-detached homes can be found in Ballymote and Tubbercurry in Co Sligo, where they cost, on average, between €90,000 and €100,000. This is followed by Mohill in Leitrim and Castlerea in Roscommon where three-bedroom semis cost €100,000 and €105,000 respectively.
In stark contrast, someone buying the equivalent property in Greystones, Co Wicklow is looking at paying €450,000. The same property would cost around €330,000 in Blackrock, Co Cork, up to €310,000 in Killarney, Co Kerry, €320,000 in Wicklow town and €330,000 in Ashbourne, Co Meath.
Linda Daly, editor of the National Property Price Guide, says: “Property prices nationally are still some way off their 2007 peak but first-time buyers will welcome a slowdown in the high rate of inflation that we have seen in previous years. On the other hand, homeowners – especially those whose homes are still worth less than what they paid for them in the boom – will take heart in the fact that the majority of agents nationally are predicting some rise in values in 2020.”
“The Sunday Times National Property Guide gives a detailed insight into the trends affecting house prices throughout the country, and should be invaluable to anyone looking to buy a home in 2020.”
One phenomenon few commentators could have seen coming is the fact Border towns experienced the largest rise in median house prices (up 10.1% last year, according to CSO figures).
The amount of new development also increased with Cork, Meath, Limerick, Wicklow and Kildare featuring large-scale developments. Availability of new homes was a welcome relief for people looking to escape the rent trap but also put a downward pressure on the second-hand market as buyers sought A-rated homes featuring all mod cons.
In areas like Donegal, Sligo, Leitrim and Roscommon, house prices are still below the level where developers can make a profit so there is extra emphasis on the second-hand market to make up the shortfall.
With Brexit moving closer to conclusion, the uncertainty that has plagued the market over the last three years could soon give way to clarity. Central Bank mortgage lending rules have brought stability to the market and initiatives like the Help to Buy have kept activity levels ticking along.
For the complete National Property Price Guide, pick up a copy of The Sunday Times this weekend or online at: www.thetimes.ie.
If using this information please credit The Sunday Times
To interview Linda Daly, Editor of
The Sunday Times Dublin Property Price Guide, please contact
Clodagh Foley at Unique Media on 01 522 5200 or 085 865 8019
Or contact Linda Daly direct on 087 26 55100