Laois house prices nearing rock bottom

LAOIS is among the bottom three counties in the State for house prices, according to the latest report from property website Daft.ie

LAOIS is among the bottom three counties in the State for house prices, according to the latest report from property website Daft.ie

The findings by the company show that the average asking price for a one-bedroom house in Laois last year was €43,381, a two-bedroom house was €56,785, a three-bedroom was €69,003, four-bedroom was €102,576 and a five-bedroom house was around €124,722.

These prices were 13% lower than the previous year, although this represented a slight improvement on 2011 when property value dropped by 20%. The company estimate that the average house price in Laois is now €103,000, which is a whopping 58% below peak levels.

Only Roscommon and Leitrim reported a lower average asking price than Laois, with a five-bedroom house in either county going for around €100,000. A five-bedroom house in either Donegal or Cavan was also cheaper than Laois (€119,928 and €112,852 respectively), but for all other house sizes the asking price in both counties was higher.

Just across the county border, prices in Offaly are considerably higher, with a one-bedroom house costing €56,412 and a five-bedroom house costing €162,187.

Naturally the highest prices were recorded in Dublin, with the average price of a one-bedroom house €140,020, while a five-bedroom house was €443,387.

Daft economist Ronan Lyons said that the total number of properties on the market nationwide is at its lowest in five years, although this is due to Dublin where there are currently fewer properties for sale than any time since February 2007.