Property prices in urban zones falling, report finds

More people are buying homes in rural areas, driving “strong and robust” price growth in those regions, while prices in urban areas are in decline, according to a new report on housing.

The report also found rural homes experienced “strong and robust” price growth year on year in the third quarter, with an increase of 11.1 per cent. In contrast, urban prices declined by 0.7 per cent. Roscommon saw the steepest increase in prices at 17.2 per cent. In comparison, Dublin showed a decrease in prices of 3 per cent.

In stark contrast, Longford and Carlow emerged as the towns with the “most remarkable price surge”, as they both rose 16 per cent during the same period. Both apartments and houses experienced price increases. The median price for an apartment stood at €270,000, while for a house it reached €330,000.

Source: News Formal (newsformal.com)

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