Number of residential dwellings sold: 509, down 35% from same period in 2019
During the first half of 2020, especially during lockdown, there was a falloff in supply of both new and existing homes.
House prices in most of the key markets held relatively stable across all three key house types, three- and four-bedroom semis and two bedroom apartments for the first six months of 2020 compared with the last six months of 2019. This is the main finding in the latest House Price Barometer from the Institute of Professional Auctioneers & Valuers. In as many as 64 of the market segments monitored by the Barometer, prices either increased or were unchanged. In the 55 segments showing declines many of the falls were less than 2%.
Despite the impact of the pandemic on the economy and the uncertainty it is creating, a key factor underpinning prices appears to be the cutback in supply not alone of new homes but also of existing properties.
According to the Barometer, the average price of a 2 bed apartment in Co Louth was €130,000 (up 7.69% from last year), a 3 bed semi was €213,334 and a 4 bed semi was €258,334.
Ciprian Popescu on Monday, August 31, 2020 in Lavelles Property News Blog