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25 Jan 2022

Incredible sum of money spent on Offaly houses so far in 2021

Incredible sum of money spent on Offaly houses so far in 2021

New residential estates have been built in Tullamore in the last couple of years

WITH a month left in 2021, the value of house sales in Offaly this year has already raced beyond the 2020 total.

Up to November 17, buyers splurged over €109m on residential property in the county, far exceeding the 2020 total of €101,594,389.

The average price of a house or apartment in the county has surged too, up nearly 9% in 2021 compared to 2020.

On average, a house has cost €173,022 in 2020 compared to €158,990 in 2020.

The market has been so buoyant in 2021 that the outturn for the year will also leave 2019, the last full year before the Covid-19 pandemic, trailing in its wake.

In 2019 a total of €111,451,216 was spent on residential property in Offaly.

The figures are from the Residential Property Price Register, which is produced by the Property Services Regulatory Authority (PSRA) and includes dates of sale, prices and addresses of all residential properties purchased in Ireland, as declared to the Revenue Commissioners for stamp duty purposes.

Though the PSRA says its register is not intended as a 'property price index', it is one of the industry guides to house prices and householders were advised to check it when valuing their homes for the Local Property Tax.

According to the register, up to November 17 a total of 630 residential properties were sold in Offaly during the year, a figure which almost matches the full 2020 figure of 639.

And with part of November and all of December not yet included in the statistics, the 2021 final tally will be very significant.

December is always a busy month for the closure of private residential property deals.

Last year nearly one-sixth of all houses were sold in that month, with the total spent being €16.7m.

The costliest single house in Offaly so far this year was a property described as River Lodge in Ross, Tullamore.

A five-bed home close to the bank of the Clodiagh river, it is 3,984 sq ft in size and was sold for €584,300 on September 27.

A detached house in Ashley Court, Tullamore town, fetched a price of €530,000 in the same month.

This year has seen a surge of new house building in the county town and in one of the newly built estates, Redwood on the Clara road, one of the prime properties was sold for €466,960.

It was listed by the vendors as a four-bed detached 1,951sq ft house with two ensuite bedrooms upstairs with a very good energy conservation rating.

At The Hawthorns, another new residential scheme in Tullamore which is still under construction, a buyer paid €246,525 for a house on November 1.

This year's listings also include an eight-house turnkey project built for Offaly County Council, Heather Drive, off Main Street, Daingean. According to the register, the houses there cost €235,174 each.

Among the most expensive houses sold in 2020 was Morris House, Clonminch Road, Tullamore, which is listed as having cost €560,000 on April 27.

Also in Tullamore, houses at the new estate on the Arden Road, Silverbrook, sold for between €220,264 and €365,921 last year.

On October 19 last year a rural property at Ballinla, Edenderry, named as Penny Lodge in the register, was sold for €550,000.

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