IRISH INDEPENDENT DECEMBER 11TH 2006
The first quarter of 2006 saw a larger than expected uplift in both demand and prices across Portlaoise & County Laois. New developments increased prices across the board at approximately 10%. This had a knock on effect in the second hand market.Prices will vary in County Laois town by town according to proximity to Trains & M7 with easy access to Greater Dublin Area. Buyers from west Dublin and Kildare have increased noticeably and the towns of Portarlington, Portlaoise, Mountmellick, Stradbally and Ballinakill are more sought after for these reasons.
The larger towns of County Laois, Portlaoise & Portarlington have also seen an increased proliferation of apartments and townhouses due to the high cost of development land and availability of higher densities, thus attractive higher returns for the developer.
The larger towns of County Laois, Portlaoise & Portarlington have also seen an increased proliferation of apartments and townhouses due to the high cost of development land and availability of higher densities, thus attractive higher returns for the developer.
Co Laois has also seen a slowdown at the higher end of the market where prices exceed €400,000. Unless in a unique location with a sought after factor, these properties can take up to 12 months to sell. As with rest of the country, auction activity has dropped considerably with vendors moving to private treaty.
The price of a 2-bed apartment in Kill, Co Kildare was €301,000 in August 2006. County Laois still offers tremendous value for money by comparison when one compares these prices. Newbridge, Kilcullen and Athy, our nearest Kildare Towns are equally expensive for the first time buyer. Consequently we expect a continued focus of buyers on Co Laois for its good value and accessibility. E.g. 15 mins drive from Newbridge / 40 mins to Newlands Cross.
Development land values would appear to be peaking in the larger towns of Laois while the satellite towns around the county have seen dramatic increase in activity with planned projects due on the market.
Over the next two years, Portlaoise, the County Town will unveil a strongly enhanced commercial retail, industrial & office sector with many developments under way. Portlaoise will finally be on a par with its midland peers. Developers and business are finally exploiting its natural strategic location between Dublin, Cork, Limerick and the rest of Ireland in general.
Over the next two years, Portlaoise, the County Town will unveil a strongly enhanced commercial retail, industrial & office sector with many developments under way. Portlaoise will finally be on a par with its midland peers. Developers and business are finally exploiting its natural strategic location between Dublin, Cork, Limerick and the rest of Ireland in general.
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