Property sales totalling 151m recorded in Westmeath during the calendar year

Data from the Property Price Register, analysed by property website MyHome.ie, shows that property sales throughout Westmeath to date this year have totalled in excess of €150m.

Pertaining to Athlone, there were two large one off sales with Shannon Lodge selling for €575,000 in January and a property in Shancurragh, Coosan, selling for €560,000 in February.

As of the Property Price Register update of December 5, just over €151.9 million had been spent on property so far this year in Westmeath.

There were 861 sales recorded as of that date, which still has some way to go to surpass the 993 transactions recorded in the county in 2017.

The Managing Director of MyHome.ie, Angela Keegan said uncertainty over the outcome of Brexit negotiations was impacting the market, especially at the upper end.

“That uncertainty is hitting the upper end more I think while the impact of the tightening of the Central Bank lending rules and an increase in stock means house price inflation generally, is slowing around the country. In Q1 asking prices nationally were up 95 percent, but by the end of Q3 the rate of inflation had slowed to 5.9 percent year on year.

“Double or high single digit inflation is not sustainable so the current trend is positive for the property market as a whole.”

“I think this year will be remembered as the year when the stock of both new builds and secondhand homes turned the corner. Secondhand stock nationally is up six percent, while the number of new home schemes continues to rise,” Ms. Keegan remarked.

 

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