Longford House Price Survey June 2020

The price of the average three-bed semi in Longford rose by 4.3% to €122,000 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 across the county remained unchanged over the past three months.

“There has been limited change for us with prices steady at pre-Covid levels and lots of interest,” said Joe Brady of REA Brady.

“There is a very limited supply on the market, although there has been a good take-up from first time and local buyers. We are seeing more trade below €200,000.”

The time taken to sell the average three-bedroomed semi-detached house rose by one week to six in Longford over the past three months.

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, an annual decline of -0.56%. 

“Although sales slowed during the lockdown, they did happen and, despite fears, very few fell through or had to be renegotiated,” said REA spokesperson Barry McDonald.

“Changes in the world of work are having an immediate effect on the second-hand housing market with a nationwide trend emerging of buyers looking to move 15 minutes outside of their urban location where they can get more space for the same money.

“We are finding that people are looking for three things – more space, gardens and a guarantee of better broadband, where transport was previously the highest priority.

“While the current outlook is positive, and there seems to be a lot of pent-up demand, it may be Q3 before we see the effect of Covid-19 on the market and on the outcome of mortgage approvals granted before the lockdown.”