15 hours ago
- Business
- Irish Independent
Roscommon house prices rise yet again amid ‘increasingly low' supply
Amid warnings of 'increasingly low' supply in the county, the average house price now stands at €228,883.
According to the latest House Price Report, house prices in Roscommon are up 4.9pc on the previous quarter.
Every house type in Roscommon has risen in the past year, with one-bedroom apartments rising 25.4pc to €93,000.
Four-bedroom bungalows, meanwhile, stand at €283,000 (up 13.0pc) while five-bedroom detached houses now stand at €278,000 on average (up 7.9pc).
Roscommon recorded the third-highest annual increase in house prices, behind County Galway and Galway City, where prices increased by double digits respectively.
Separately, the Real Estate Alliance has found that the average three-bed second-hand semi-detached house in County Roscommon has risen to €265,000, up 1.9pc from the previous quarter.
In Roscommon town, prices are up 1.6pc to €310,000, In Castlerea house prices are up 2.3pc to an average of €220,000, the Q2 REA Average House Price Index shows.
The average time taken to sell a house stands at four weeks.
Seamus Carthy of REA Seamus Carthy, a Roscommon town-based auctioneer, said: 'Supply for desired stock is becoming increasingly low in the county, with demand for ready-to-go family homes at the top of the list.
'Supply of older stock and refurbishment projects is improving but difficulty securing tradespeople may be dampening the desire among some, which could counteract the grants benefit of such a property.
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'We are seeing a shift, as landlords begin to bed in again and hold on to property for the long term.'
The RED survey found that 70pc of purchasers in County Roscommon were first-time buyers. Meanwhile, 20pc of sales in the county this quarter were attributed to landlords leaving the market.
Agents across the count also y reported that the BER ratings of properties saw A-rated properties command 25pc price increases in comparison to comparable C-rated properties.
