Cavan house prices remain cheapest in Ulster

On a quarterly basis house prices in the county dropped 3%.

Figures from the latest Daft.ie house price report, show a rise in house prices in Cavan in the final three months of 2024 were 6.2% higher than a year previously, with Ulster and the North West and Midlands still among the cheapest places to buy a house

The average price of a house in Cavan based on year-on-year figures is now €2219,450, a near 40% (39.5) above levels seen pre-Covid pandemic.

On a quarterly basis, house prices in the county however have dropped 3%.

There has been a 4.8% increase compared to this time last year in Monaghan (€230,308), and 5.3% in Donegal (€217,225).

In Leitrim prices rose 6.6% to €193,124 in those same nine months, and by 11.2% in Longford (€205,008)

According to the Daft.ie House Price Report Q4 2024, the median price of a newly built home in Cavan from January to September 2024, now stands at €294,999, second lowest in the country after Leitrim where costs are €50,000 less at €232,500. The national average is €410,000.

In Monaghan it is €321,700 and in Donegal €324,500.

The asking prices of different size homes in Cavan in Q3 2024 and the annual change are now as follows:

One bed apartment - €84,000 - up 3.8%

Two bed terraced house - €107,000 - up 5.1%

Three bed semi-detached house - €141,000 - up 7.8%

Four bed bungalow - €275,000 - up 6.7%

Five bed detached house - €271,000 - up 0.5%

Cavan was the only county in Ulster where price percentages went up across all five groupings.

The increases were also higher than those in both Donegal and Monaghan, though the asking prices there are still greater.

In Monaghan, prices of different size homes in Q3 2024 and the annual change was:

One bed apartment - €92,000 - up 2.3%

Two bed terraced house - €118,000 - up 3.6%

Three bed semi-detached house - €155,000 - up 6.3%

Four bed bungalow - €302,000 - up 6.7%

Five bed detached house - €298,000 - down 1.0%

Housing prices nationally rose by an average of 9% during 2024, with 7229 market transactions involving newly built homes in the first nine months of 2024.

The typical listed price nationwide in the final quarter of 2024 was €332,109, 1.4% higher than in the third quarter of the year and 30% higher than at the onset of Covid19.

The number of second-hand homes available to buy nationwide on December 1 stood at less than 10,500. This is down 15% year-on-year and accounts for the lowest total ever recorded in a series extending back to January 2007.