Average house price in Louth reaches €216,905 as rents continue to climb

The average house price in Louth €216,905, according to a new survey.

Average rental costs for the county have also reached €983per month, say protection specialists Royal London.

The company carried out a survey which found that first-time buyers were on average 34 years old.

Commenting on the findings, Eileen Meates of Royal London in Louth said: ‘As the age of first-time buyers in Ireland continues to rise, it would appear that moving out and buying your first property at the most ‘desirable’ age is beyond reach for most people. As society evolves, family situations and living arrangements change. What is now would have been once considered the traditional sequence of events, get married, buy a house and then have children, in that order, is becoming less common. A period of renting at some point is usually the case for many individuals nowadays, and current house prices in Louth reaching an average of €216,905 and Central Bank lending restrictions mean that, on average, people have to wait well into their thirties before they can afford their first home.’

Ms. Meates said of the survey observations: ‘Average monthly rents in Louth are currently coming in at around €983[3]. The vast majority of people believe that you should be in your early twenties when moving out of your family home.’