Historic Moneygall house sells for a million euro

The sale of Thornvale House in Moneygall is the largest one-off property transaction recorded in Offaly last year.

Data from the Property Price Register, analysed by property website MyHome.ie, shows that the 6 bed home on 21 acres sold for €1 million in February.

Other large one-off sales included the sale of Cloghan Castle in Lusmagh, Banagher for €960,000 in January, Cangort House in Shinrone for €451,538 in July, a property at Clonbrone in Birr for €449,000 in November and Garrison House in Clonminch, Tullamore for €430,000 in March.

As of the Property Price Register update of December 5th, just over €85.3 million had been spent on property so far this year in Offaly.

There were 567 sales recorded as of that date, which still has some way to go to surpass the 686 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 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 ended.