Leitrim House Price Survey December 2024

The price of the average second-hand three-bed semi in Co Leitrim is predicted to increase by 10pc in 2025, according to a national survey by Real Estate Alliance.

Three-bed semi-detached homes in the county now cost an average of €197,500, up 8pc on the December 2023 average of €182,500, the Q4 REA Average House Price Index shows.

“Q4 has been very busy in Leitrim,” said Joe Brady of REA Brady, Carrick-on-Shannon.

“Prices for the small supply that was on the market have hardened, with all properties moving quickly and some of the well-located, well-finished ones making exceptional prices.

“For the first time since 2006 we had one 3 bed semi sale at a price point over €300,000."

Carrick-on-Shannon prices rose 9.3pc in 2024 to €235,000, while prices in Carrigallen rose by 6.7pc to €160,000.

“We see very little change heading into the end of the year, and continued problems with lack of supply,” said James Spring of REA Donohoe Spring, Carrigallen.

“The demand for homes to buy and rent has increased, with no new developments in the locality and a current stock of second hand properties only.

“We expect that what does come up for sale in 2025 will sell well and quickly."

The REA Average House Price Index concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

House prices in western counties increased at twice the rate of the east coast last year as buyers battle over the lowest supply on record, the survey found.

The absence of new home building, and historically low supply has seen three bed semi-detached homes in counties Clare, Donegal, Galway, Limerick, Mayo, Roscommon and Sligo increase by over €10,000 in the past 12 weeks – with an average annual rise of 16pc.

This is twice the rate of increase in commuter counties, which rose by 7.5pc over 2024.

The actual selling price of a three-bed, semi-detached house across the country rose by 2.1pc in the past three months to €330,602, and 9pc overall annually.

REA agents nationwide are predicting a 6pc rise in house prices in 2025.

Actual selling prices in Dublin city rose by 1.8pc in the last three months, and the average three-bed semi in the capital is now selling at €542,000.

Prices in the major cities outside the capital rose by an average of 2pc to €348,000 in the last three months – an annual rate of increase of 7.7pc, with agents predicting a further 9pc rise in 2025.

Homes in the country’s large towns continue to show the biggest growth nationwide, up 11.5pc on last September and 2.6pc this quarter to an average of €249,448.

Homes in commuter counties rose by 2pc over the past three months to an average of €343,778, an annual rise of 7.5pc.