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Local property prices predicted to rise by seven percent in 2022

Jan 14, 2022 12:01 By News Northern Sound
Local property prices predicted to rise by seven percent in 2022 Local property prices predicted to rise by seven percent in 2022
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It's steeper than the increase expected nationwide.

Property prices across the Shannonside Northern Sound region are predicted to rise by seven percent this year.

That's according to the Annual Residential Property outlook from the Society of Chartered Surveyors Ireland.

It's anticipating a seven percent rise in property prices across Connacht and Ulster.

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That's higher than the expected five percent increase nationwide, while the cost of rent is also predicted to increase by five percent.

John O'Brien is the owner of DNG John O'Brien Auctioneers in Co Monaghan.

He told Northern that a shortage in supply is driving up prices and says it's "tough" for first-time buyers:

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