Average price of a home in Longford is now €205,000
Prices in the final three months of 2024 were 11% higher than a year previously
According to the latest Daft.ie House Price Report, the average price of a home in Longford is now €205,000.
Longford is the third least expensive location in the country behind Leitrim and Roscommon where the cost of your typical average home is €193,142 and €203,579, respectively.
In Longford, prices in the final three months of 2024 were 11% higher than a year previously, compared to a rise of 4% seen during 2023.
The average price of a home is now €205,000, 51% above the level seen at the start of the covid19 pandemic.
The typical listed price nationwide in the final quarter of 2024 was €332,109, 1.4% higher than in the third quarter of the year and 30% higher than at the onset of the covid19 pandemic.
Prices rose for the fourth consecutive quarter in Dublin, where the increase of 9% during 2024 matched the national average and marked the highest rate of inflation seen in the city since late 2017.
Galway city saw a similar increase during the year, while in Limerick city, prices rose by 8.2%. In Cork and Waterford cities, average prices rose by 6.3% during 2024. Outside the five main cities, inflation ranged from 11.1% in Leinster to 5.3% in Connacht-Ulster.
Commenting on the report, its author Ronan Lyons, economist at Trinity College Dublin, said: “2024 saw the largest increase in listed prices since 2017. And, unlike earlier in the 2020s, Dublin is now driving price growth, with its rate of inflation ahead of the other cities. This is, once again, a story of weak supply and strong demand. With incomes and employment growing, demand for owner-occupied housing is likely growing at close to 5% per year.
"But while the number of newly-built homes being transacted is increasing, it is growing much more slowly than demand. Further, the increase in new builds has, in recent quarters, been more than offset by a decline in the volume of second-hand homes coming on to the market. While 2022 saw 63,000 second-hand homes listed for sale, there were just 51,000 put on the market during 2024, similar to levels seen during pandemic lockdowns. The new government may look to intervene in the mortgage market, to improve mobility of those with fixed interest rates. But ultimately, the solution remains boosting the volume of homes being built.”
The full report is available from HERE