Dundalk as it Happens
Louth house prices could jump by almost €30,000 by the end of 2018 – predict Goodbody
The average price of a property in Co Louth could soar by almost €30,000 by the end of next year.
That’s according to a new report from Goodbody Stockbrokers which expects prices nationally to rise by 10% this year and by another 8% next year.
In Louth the current price of a property according to the Central Statistics Office (CSO) is €147,917. This is expected to increase to €162,708 by the end of 2017 according to Goodbody and jump to €175,724 by the end of 2018.
That would equate to the average property in Louth increasing in price by an average of €27,807 in the next 18 months.
The Irish Economy Health Check increased its forecast on house prices as demand continues to outweigh supply.
“Mortgage approvals, even excluding cash purchases, are in excess of the amount of new supply expected to come to the market, thus house price inflation is expected to remain strong over the forecast period,” the report states.
Author of the report Dermot O’Leary also questioned official house completion statistics. Official figures suggest there were 15,000 units finished last year but according to stamp duty returns there were only 4,000 new builds transacted in 2016.