Blackrock top location for Louth homebuyers
Scenic Blackrock is the most in demand location for homebuyers in Louth, according to a national house price survey conducted by the Irish Independent.
An analysis of each county indicated where the key locations lay for the property market, and in Louth the popular coastal village emerged as a favourite.
The survey also reported the the average price of a home in Louth now stands at €250,000, up 8% on this time last year.
A further growth of 5% is also predicted for 2019 due to housing stock levels remaining low while demand is high.
The survey also looked at the range of new developments coming on stream to feed the property market.
Louth was estimated to currently have sixteen new home developments. But as with most areas around the country, demand is exceeding supply.
Dundalk estate agent Brian Carroll, Sherry FitzgeraldCarroll explained the developing situation in Louth: ‘ There are currently about 10 new home developments in Dundalk and Ardee, and six to come on in Drogheda this year, but it’s still not enough.’ ‘Demand is definitely there. We’re predicting that about 18,000 housing units will be built in 2019, but it needs to be up at about 35,000 to meet demand due to population in the county.’
He added that there is currently a positive impact from Brexit in Dundalk as more companies move in search of an Irish base.
Wuxi Biologics is building a facility, bringiong 450 jobs to the area. Pharma company Wasdell has invested €30m in a factory in Dundalk and Almac is on track to employ more than 100 people in its new plant in Dundalk This is on top of big companies like National Pen and Paypal which are already big employers locally.