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€25k Increase In Westmeath House Prices Year-On-Year

Monday, 7 October 2024 08:17

A new report has shown yet another increase in midlands asking prices.

House prices in Westmeath have risen by nearly €25,000 year-on-year.

MyHome.ie's latest report shows the average cost of a home in the county is now just under €250,000.

€215,000 is the median price tag on a property in Laois - that's €5,000 more than the same time last year.

While Offaly has seen no year-on-year change, with prices remaining at €230,000.

Nationally, the rate at which house prices are rising has gone up by 7.5% over the year.

Author of the report, Bank of Ireland's Chief Economist, Conall MacCoille says many homes are going for way above the asking price:

There's been a 6% decrease in the number of homes on the market in the midlands.

MyHome.ie's latest report shows there were 487 properties for sale in the region in the third quarter of the year.

It also warns asking prices are rising at their fastest rate in two years, with one in seven homes selling for 20% above the asking price.

Mr Mac Coille doesn't believe a 'bubble' is emerging:

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