Value of house sales in Louth up 27% in first half of the year

Value of house sales in Louth up 27% in first half of the year

The value of property transactions in Co Louth has risen by 27% in the first half of 2017.

That’s according to a new report released today by property website MyHome.ie.

The report shows that there was almost €105 million worth of house sales in the county between January 1st and June 30th, compared to €85.5 million in the first half of 2016.

In percentage terms only Meath (47%), Cavan (37%), Offaly (36%) and Westmeath (29%) saw the value of transactions increase by more.

The volume of sales also increased by 8.2%, with 579 sales recorded in the first half of 2017 compared with the 535 sales in the first six months of 2016.

House sales across the country were up 8.5% in the first half of the year with 23,148 houses sold nationwide. The value of those transactions also increased by 15% up from €5.1 billion to €5.8 billion.

Managing director of MyHome.ie Angela Keegan said people were being pushed out of Dublin into the commuter counties due to the rise in property prices.

“The rise in sales and values in the commuter belt is the standout feature in these figures and indicates that the lack of supply of affordable houses is pushing buyers out of Dublin,” she said.

“We can see that the number of sales in Meath is up 43% while the value of transactions is up 47%. In Wicklow sales are up 21% while values are up 25%,” she added.

“The downside of this trend and something which has been highlighted in recent reports is the increase in commuting times for people working in Dublin.

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