Property sales in Carlow reach €94m
The sale of Rathvinden House in Leighlinbridge was the largest one-off property transaction recorded in Carlow so far this year with 556 property sales for €94.3m recorded in the county for 2018.
Data from the Property Price Register, analysed by property website MyHome.ie, shows that the six bed Georgian home was the biggest one-off sale recorded in the county in 2018 after it sold for €1.1 million in August.
It was one of just two sales for a seven figure sum, the other being the sale of 30 apartments at Riverbank on Burrin Street in Carlow Town for €1.35 million in July.
Other large one-off sales included the purchase of Rathmore Park in Tullow for €850,000 in May, the sale of Russellstown Wood for €650,000 in January, Sylguff Lodge in Bagenalstown for €560,000 in October and Slaney Lodge for €494,000 in May.
As of the Property Price Register update of November 28, just over €94.3 million had been spent on property so far this year in Carlow.
There were 556 sales recorded as of that date, which had already surpassed the total number of 534 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.
She said: "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 9.5%. By the end of Q3 the rate of inflation had slowed to 5.9% 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 2018 will be remembered as the year when the stock of both new builds and second-hand homes turned the corner. Second-hand stock nationally is up 6% while the number of new home schemes continues to rise," she added.