House prices unchanged by pandemic

THE price of the average three-bed semi in Louth fell by 2.4% to €200,000 in the past year according to a national survey carried out by Real Estate Alliance.

Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house remained unchanged in both Drogheda and Dundalk over the past three months.

The average price of a three-bed semi in Dundalk remained at €190,000 over the past 12 months, with time to sell rising from eight weeks to nine this quarter.

‘ The top end of the market is slower to move but the lower-priced properties continue to command pre- Covid levels of interest,’ said Michael Gunne of REA Gunne Property, Dundalk.

‘ There is a lot of demand for any new listings at the lower priced end of the market, properties in the price range of €100k to 200k are remaining active, and we are not witnessing any notable price reduction.’

The REA Average House Price Survey concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

Across the country, despite fears of a downturn in the market due to lockdown, the price of a three-bedroomed semi-detached house fell by just -0.15% over the past three months to €234,667.’