Housing prices rise in Cavan

In Cavan, prices in the third quarter of 2024 were 10% higher than a year previously according to the latest daft.ie report.

This is compared to a rise of 9% seen a year ago.

The average price of a home is now €239,000, 58% above the level seen at the start of the Covid19 pandemic.

Housing prices nationally rose by an average of 3.1% in the third quarter of 2024, according to the latest Daft.ie House Price Report released today by Ireland’s largest property website, Daft.ie.

The typical listed price nationwide in the third quarter of 2024 was €344,848, 6.2% higher than in the same period a year earlier and 37% higher than at the onset of the covid19 pandemic.

The increase in prices in the third quarter was broadly based but the percentage gains were greatest in Dublin, where prices rose by 4.1% between June and September. This is the largest three-month increase in the capital since early 2017 and means that prices there are on average more than 6% higher than year ago. This means that annual inflation in Dublin is higher than the average of the other four cities for the first time since 2020: in Cork, Galway and Waterford cities, prices in the third quarter were roughly 4% higher than a year ago. Inflation in Limerick city remains higher, however, at 9.7%, while the average increase outside the cities in the year to Q3 was 6.3%.

The number of second-hand homes available to buy nationwide on September 1st stood at less than 11,900, down 12% year-on-year, the fifteenth month of contracting supply.

This is a new low for this time of year, surpassing the previous low of 12,900 homes on September 1st 2021, just after lockdown ended.

The fall in availability largely reflects a dip in the number of second-hand homes coming on to the market over the last year, with just over 51,000 homes coming on to the market in the twelve months to September, compared to almost 57,000 a year ago.