Laois property prices remain unchanged

Pat Somers

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Pat Somers

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news@leinsterexpress.ie

Laois property prices remain unchanged

Property prices in Laois have remained unchanged in the last quarter, according to the latest MyHome.ie Property Report in association with Davy.

The report for Q2 2020 shows that the median asking price for a property in the county has stayed steady at €185,000. The price is also unchanged compared to this time last year.

Continuing this trend, asking prices for a 3-bed semi-detached house in the county stayed steady over the quarter at €175,000. This represents an increase of €6,000 compared to this time last year.

Meanwhile, the asking price for a 4-bed semi-detached house in Laois increased over the quarter by €2,500 to €200,000. This means prices in the segment increased by €3,000 compared to this time last year, when they also stood at €197,000.

The number of properties for sale in Laois on MyHome.ie fell by 32% in the last quarter and was down 22% on this time last year. The average time for a property to go sale agreed in the county after being placed up for sale now stands at five months.

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The author of the report, Conall MacCoille, Chief Economist at Davy, said that the negative asking price inflation seen throughout the country had to be viewed in the context of far fewer listings in Q2 compared to a year ago.

"Our price measure is based on just 3,700 new properties listed for sale over the past three months, down 64% from 10,200 one year ago. Observed prices were therefore clearly biased towards those vendors willing to put their homes on the market despite the enormous uncertainty of the Covid-19 outbreak."