Louth sees slight cool down in house price inflation

The rate of increase of house prices in Louth slowed down over the past 12 months according to the Daft.ie Irish House Price Report Q4 2022, released today.

The average house price in Louth at the end of 2022 was €270,733, which shows an increase of 8.5% on a year previous. While this may seem a large increase on the average house price of €249,525 in Louth, as reported this time last year, the rate of increase is down slightly from the 9.6% reported in Q4 2021.

The average price of €270,733 also represents a quarter on quarter increase of 0.6%, as well as an increase of 112.3% from their lowest price during the last recession.

Looking at Louth house prices in more detail, the median house price for new builds in Louth in the first three quarters of 2022 stood at €293,915. 

A breakdown of average asking prices in Louth are as follows:

• 1 bed apartment - €120,000 - up 12% on Q4 2021
• 2 bed terraced house - €153,000 - up 11% 
• 3 bed semi-detached house - €212,000 - up 9%
• 4 bed bungalow - €412,000 - up 10.0%
• 5 bed detached house - €396,000 - up 3%

According to the report, nationally, over the course of 2022, the average listed price nationwide increased by 6.1%. This marks a smaller increase than during 2021 (8.1%) or 2020 (7.7%). The total number of properties available to buy on December 1st was 15,223, up 32% from the same period last year but still well below the 2019 average of 24,000.

Nationally, the median price of a newly-built home between 2022 Q1-Q3 was €370,000, with 6,785 market transactions involving newly-built homes taking place during this period.