The average price of a second-hand house in both Cavan and Monaghan has increased again. In County Monaghan the price of the average second-hand three-bed semi has increased to €220,000, up 10 per cent from €200,000 according to a national survey by the Real Estate Alliance. In County Cavan, prices for the same type of property increased to €182,500, up 2.8 per cent from €177,500, in the last three months.
In Cavan, 60 per cent of purchases in the last three months were made by first-time buyers and 35 per cent of buyers were from outside the county. While in Monaghan, 40 per cent of purchasers were first-time buyers, and 20 per cent were from outside of the county.
Joe Brady is an auctioneer with the Real Estate Alliance. He told the Joe Finnegan Show that remote working, value for money outside of Dublin, broadband access and better quality of life is driving prices here. With regards to broadband, Mr Brady said things have changed: "Three or four years ago, I always remember, on a Saturday morning you'd have a young couple coming down [from Dublin] , the second kid would be just arriving or about to arrive. Within the first three questions would be 'what's the broadband like here?' And, if it wasn't available it was 'good luck' they wouldn't be buying that house. Now, that's still a question but the answer is always 'it's there'. Three years ago, we might have had, say, one out of three would've had nothing, and the other one out of three would've had poor coverage. Now, it's one out of 10 might have poor coverage and nobody has nothing."
