Longford: Longford prices soar due to new Center Parcs jobs

Sherry FitzGerald McGill sold ‘Melview’, Corragarrow, Longford town, in September for €330k

The opening of the new €233 million Center Parcs holiday resort in Co Longford last year has had a positive impact on local property values.

Providing 1,000 jobs at its forest location 25km south of Longford town, the resort is lifting property prices throughout the county as new workers seek accommodation and investors look for properties to let. Prices in Longford are up 9pc on a year ago in one of the highest market increases nationally.

According to local agent Fintan McGill of Sherry FitzGerald McGill, some property types performed even more strongly, with three-bed semis particularly popular. These increased in value by a whopping 31pc in towns and 36pc outside.

"It's down to supply and demand," says McGill. "The base price of the three-bed semi was very low to begin with, and so was stock, so the new demand caused a surge in prices."

  • Average Price €230,000
  • Areas Longford Town, Granard, Ballymahon
  • Up + 9%
  • One Year Forecast + 2%
  • Assessing Agent
    Sherry Fitzgerald McGill

There is also an increasing need for rental accommodation, prompting investors to buy properties to let.

"Apartments have done really well, with prices going up by 18pc for one-beds and 21pc for two-beds. However, those increases are now levelling off and I don't expect much more movement in 2020," says McGill.

Longford

House Type 2019 2020 2021
3-BED SEMI IN TOWN €110,000 €145,000 €155,000
3-bed Semi Outside Town €110,000 €150,000 €160,000
4-BED SEMI IN TOWN €130,000 €160,000 €165,000
4-bed Semi Outside Town €130,000 €150,000 €155,000
4-bed Detached €210,000 €230,000 €235,000
5-bed Detached €220,000 €250,000 €260,000
3-bed Bungalow In Town €120,000 €130,000 €135,000
3-bed Bungalow Outside Town €145,000 €155,000 €160,000
4-bed Bungalow In Town €185,000 €190,000 €200,000
4-bed Bungalow Outside Town €200,000 €230,000 €240,000
Detached 2000+ Sq Ft €250,000 €270,000 €275,000
One-bed Apartment €55,000 €65,000 €65,000
Two-bed Apartment €70,000 €85,000 €90,000
3-bed Terrace €110,000 €115,000 €120,000
2-bed Cottage €80,000 €95,000 €95,000
Ex-council 3-bed €100,000 €110,000 €115,000
2up/2Down €80,000 €90,000 €95,000

Thanks to its location on the doorstep of the resort, Center Parcs has transformed the fortunes of Ballymahon, a once-sleepy village where now it's difficult to find a parking spot, but McGill says the real action is in Longford town.

"It's the hub of the county," he says. "There's a buzz about the place. Property is selling well, it has good schools, shops and amenities, and there are plans to upgrade 50km of the N4 between Rooskey and Mullingar. Things are on the up."

Property Hotspot: Longford Town

It may be 25km from the resort, but Center Parcs is having a hugely positive effect on the town.

The feel-good factor is reflected by a substantial rise in the price of four-bed semi-detached homes, which went from an average of €130,000 last year to €160,000 now, an increase of 23pc.

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