Roscommon House Price Survey June 2020

The price of the average three-bed semi in Roscommon rose by 1.8% to €145,000 in the past year according to a national survey carried out by Real Estate Alliance.

Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the county remained unchanged over the past three months.

The price of an average three-bed semi in Roscommon Town rose by 3% in the last year to €165,000.

“Prices in the region have remained unchanged to date with levels of interest very much matching pre-Covid levels,” said Seamus Carthy of REA Seamus Carthy Castlerea and Roscommon Town.

Average Castlerea prices remain at €125,000 since last year. In both locations there was no change in prices this quarter and time taken to sell rose by one week to 11 weeks.

“There is more and more interest from buyers who want to move from the large urban areas to a little out of town to get more space,” said Mr Carthy.

The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

Across the country, despite fears of a downturn in the market due to lockdown, the price of a three-bedroomed semi-detached house fell by just -0.15% over the past three months to €234,667, an annual decline of -0.56%. 

“Although sales slowed during the lockdown, they did happen and, despite fears, very few fell through or had to be renegotiated,” said REA spokesperson Barry McDonald.

“Changes in the world of work are having an immediate effect on the second-hand housing market with a nationwide trend emerging of buyers looking to move 15 minutes outside of their urban location where they can get more space for the same money.

“We are finding that people are looking for three things – more space, gardens and a guarantee of better broadband, where transport was previously the highest priority.

“While the current outlook is positive, and there seems to be a lot of pent-up demand, it may be Q3 before we see the effect of Covid-19 on the market and on the outcome of mortgage approvals granted before the lockdown.”