House prices jump 9pc in Offaly in past year

HOUSE prices jumped by 9 per cent in Offaly over the past 12 months with the average price of a home now being €242,000 in the county.

This compares to a rise of 13pc in the previous year. The average price of a home is 22pc below its Celtic Tiger peak in the county.

Nationally housing prices were largely stable between June and September, according to the latest Daft.ie Sales Report released on Monday by Ireland’s largest property website, daft.ie.

The average listed price nationwide in the third quarter of 2022 was €311,514, up 0.1pc on the average for the second quarter of the year and 16pc below the Celtic Tiger peak. Due to increases in recent quarters, year-on-year inflation remains high at 7.7pc, although this is down from 9.2pc three months ago.Compared to three months ago, prices were stable in Dublin but rose slightly in the other cities. Cork city prices rose by 0.2pc and Limerick prices by 0.3pc, while Galway prices rose by 0.5pc and Waterford prices by 0.6pc between the second and third quarters.

Outside the cities, prices rose in Leinster (by 1.1pc) while they fell in both Munster (-0.7pc) and Connacht-Ulster (-0.5pc).

Despite the quarterly falls in many locations, year-on-year inflation remains positive in each city and county in Ireland – ranging from 5.4pc in Meath to 16.8pc in Donegal.The number of homes available to buy on September 1st stood at nearly 15,500, up 22pc on the same date last year and the highest total nationally in almost two years. The increase in availability on the market is driven by Dublin (where it is up 30pc year-on-year) and the rest of Leinster (up 40pc), although stock on the market is also higher than a year ago in Munster (up 8pc) and Connacht-Ulster (up 15%).