Three reports confirm Westmeath house price rise

Three separate property reports issued last week gave a broadly similar verdict on the state of the Westmeath property scene.

The news is good for those selling and has plenty to satisfy homeowners, for whom it is always reassuring to know they own an appreciating asset.

For buyers however, the scenario is grim: Myhome.ie’s findings are that the median asking price for a property in the county is now €199,975. This means prices are up by €17,500 compared to this time last year.

Daft.ie reports that the average price (not the same thing as median) for the first quarter of the year was €250,749 - a year on year change of 9.2%.

The report from Real Estate Alliance (REA) states that the price of the average second-hand three-bed semi in Westmeath has risen by 4.1% in the last three months and now costs to €255,000.

Myhome.ie, says asking prices for a 3-bed semi-detached house in the county rose by €5,025 during the quarter to €194,975 – which means that prices in the segment have risen by €19,025 compared to this time last year. For a 4-bed semi-detached house, asking prices rose by €9,950 over the quarter to €249,950. This represents an increase of €49,975 compared to this time last year.

The site reports there were 228 properties for sale in Westmeath at the end of Q1 2022 – an increase of 9% over the quarter.

The average time for a property to go sale agreed in the county after being placed up for sale now stands at just over two and a half months.