Another massive jump in local house prices

House prices in Westmeath and Roscommon rose by 11% and 17% respectively over the last twelve months.

In Westmeath, prices in the third quarter of 2021 were 11.3% higher than a year previously, compared to a rise of 5% seen a year ago.

In Roscommon, the prices rose by 17.3% during the same period.

The average price of a home is now €240,000 in Westmeath and €167,000 in Roscommon. That's according to the latest Daft.ie Sales Report released this week by Ireland’s largest property website, Daft.ie.

Housing prices nationally rose by 1% between June and September and are now 9.1% higher than a year ago.

The average price nationwide in the third quarter of 2021 was €287,704, 22% below the Celtic Tiger peak but three quarters above its lowest point in 2012.

The national trend hides regional differences. In Dublin, prices rose by 4.9% in the year to September, the slowest rate of inflation in a year. In the other major cities, prices rose by similar magnitudes – from 3.1% year-on-year in Galway to 8.4% in Limerick city. Outside the main cities, inflation remains significantly higher, with prices rising by an average of 12.9% year-on-year. The largest annual increases were in Mayo and Leitrim, where prices are more than 20% above their level a year ago.

Outside the main cities, inflation remains significantly higher, with prices rising by an average of 12.9% year-on-year

The total number of properties available to buy on September 1 was just below 12,700, up slightly from levels recorded earlier in the year but one of the lowest figures recorded since the rise of advertising properties for sale online. Despite an uptick in listings, the total availability of homes for sale nationwide on September 1 was one third lower than the same date a year earlier and a little over half the amount for sale in September 2019. The stock available for sale in Dublin has fallen by less than the national average, down roughly one quarter year-on-year, while stock for sale in Leinster (outside the capital) is down by over 40%.