Website claims Cavan property prices falling

A report from property website MyHome.ie suggests that Cavan is one of just two counties nationally where property prices have fallen over the past 12 months.

The MyHome.ie Property Report in association with Davy claims that prices are down 1.6% on this time last year.

The report for Q1 2018 says the median asking price for a property in the county remained unchanged in the for the fourth straight quarter at €150,000. This is down €2,500 on where prices were 12 months ago. Donegal, where prices fell by 3.7% in the last 12 months, is the only other county in Ireland to have seen asking prices fall in the last year.

Despite this, the asking price of a 3-bed semi-detached house in the county jumped by a massive 15.9% in the first quarter of 2018 - up from €110,000 to €127,500. While this represented the largest percentage increase for this house type nationally, it simply wipes out two consecutive quarters where prices have fallen.

Annually prices are up just 2% from the level of €125,000 where they stood a year ago. The increase of €2,500 is enough, however, to leave prices for a 3-bed semi in Cavan at their highest level in the county since the end of 2013.

Meanwhile, the asking price for a 4-bed semi-detached house in Cavan remained unchanged in Q1 2018 at €150,000 - leaving them at their highest level in two years. Annually 4-bed semis are up 11.1% having risen by €15,000 in the last year.

The number of properties for sale in Co Cavan on MyHome.ie has fallen by 12% in the last year as stock levels across the country remain an issue. The average time to go sale agreed on a property in the county now stands at just over five and a half months.