COMMUTER COUNTIES ARE experiencing a major jump in the property market, according to new figures.
A new study, carried out by MyHome.ie, found that the sale of homes in the first six months of 2019 increased across the country by 1.2%.
It was the commuter counties of Leinster – Laois, Kilkenny and Laois – that saw significant increases in both the value and number of property transactions.
In Louth, sales rose 22.6%, while the value of property transactions rose to €165 million – an increase of 28.6%.
In Kilkenny, the rise in sales figures was over 20%, with the value of transactions increasing by 23.5%.
There was a similar, if slightly lower, rise in Laois – sales figures rose 15.1% and the value of transactions increased by 24.8%, to €69 million
The study found that there were 25,192 property sales in the first half of 2019, compared to 24,882 in 2018.
The total value of residential property sales was €7.2 billion.
Angela Keegan, Managing Director of MyHome.ie, said that the new figures suggested that people were increasingly looking beyond Dublin for homes because of the high demand in the capital.
“The rise in activity in the commuter counties emphasises the relative affordability of good properties in these areas,” she said.
“This has been complemented by a major boost in new home building in these counties, which has been beneficial for first-time buyers and indeed the property market as a whole, offering supply where it is much needed.”
There are signs of a property slowdown in Dublin, with the number of sales falling by 2.9% and the value of transactions dropping by 6.8%.
In the first half of the year, €3.57bn was spent on property in Dublin.
The biggest drop in sales, however, was in Kerry where they fell by nearly 23%, while Leitrim saw the biggest drop in sales value, falling by 14.5% to €20.8 million.