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Mayo house prices jump 22.1 percent

News

Oisín McGovern

THE price of a house in Mayo has risen by over 22 percent in a year, with an average home now costing €191,432.
The latest Daft.ie report revealed that Mayo house prices had risen by 22.1 percent since Quarter 1 of 2021, with prices increasing by 2.2 per cent since the Quarter 4 of 2021. House prices in Mayo are still substantially below the national average of €229,093.
A recent analysis by Moneysherpa.ie revealed that it was over €99,000 cheaper to pay a mortgage for a house in Mayo than renting the same property.
There were 64 new home transactions in the county in 2021, a decrease of 14 percent on last year.
Across the country, house prices have risen by 8.4 in a year and by 2.4 per cent since 2022 began.
At the same time, the number of houses available to purchase in Connacht-Ulster region reached a new low at just over 2,000 properties. Prices increased 2.3 per cent on the last quarter and jumped by 20.1 per cent in the past year while new transactions were up 9 per cent.
Leitrim has the lowest prices in the country, with an average house costing €165,799, while South County Dublin had the highest average house price of €664,165.
Prices have increased quarter-on-quarter nationally, for seven consecutive quarters since the second quarter of 2020, when Covid-19 had – initially – a negative effect on prices,” said report author Ronan Lyons.
“The Daft.ie Report has been going for 64 quarters, since the start of 2006, and in all that time, there has never been a period where prices increased for seven consecutive quarters – the longest streak was six (early 2006 to mid-2007).”

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