Laois house prices highest in rapidly rising midland property market

€115.7 million worth of sales in 2017

Conor Ganly

Reporter:

Conor Ganly

The latest figures entered with the Property Price Register show that 98 properties in Limerick sold in February

The annual greatest house price growth in Ireland has been recorded in Laois and other midland counties according to the latest official figures.

In the year to February, residential property prices at national level increased by 13.0% according to the Central Statistics Office. This compares with an increase of 12.0% in the year to January and an increase of 9.7% in the twelve months to February 2017.

The Midland region showed the greatest price growth, with house prices increasing 14.8%.

CSO figures for all of 2017 also show that Laois recorded that highest average house price of the four midland counties of Laois, Offaly, Longford and Westmeath.

This trend as continued into 2018. The median or average house price in Laois for February was €155,000 up from nearly €152,000 at the end of the last year.

During 2017 €115.7 million worth of residential property was bought and sold in Laois. A total of 843 homes were sold according to CSO figures.    

In Dublin, residential property prices increased by 12.7% in the year to February. Dublin house prices increased 12.3%. Apartments in Dublin increased 14.5% in the same period.

Residential property prices in the Rest of Ireland (i.e. excluding Dublin) were 13.3% higher in the year to February. House prices in the Rest of Ireland increased 13.1% over the period. The South-East region showed the least price growth, with house prices increasing 8.6%. Apartment prices in the Rest of Ireland increased 14.6% in the same period. 

Overall, the national index is 21.8% lower than its highest level in 2007. Dublin residential property prices are 23.0% lower than their February 2007 peak, while residential property prices in the Rest of Ireland are 27.5% lower than their May 2007 peak.

From the trough in early 2013, prices nationally have increased by 74.6%. Dublin residential property prices have increased 90.6% from their February 2012 low, whilst residential property prices in the Rest of Ireland are 66.7% higher than the trough, which was in May 2013.