Home prices continue to rise in Mayo

Ciara Moynihan

House prices are still going up in Mayo, albeit at a slower rate. Residential-property prices in the county during the third quarter of 2017 were 5 percent higher than a year previously, compared to a rise of 10 percent seen a year ago, according to the latest House Price Report from Daft.ie. The average house price is now €144,000 – 30 percent above its lowest point.
The average asking price in Mayo for a one-bed apartment is €49,000, €66,000 for a two-bed terraced, €97,000 for a three-bed semi-detached, €182,000 for a four-bed bungalow and €212,000 for five-bed detached.
Nationally, house prices have risen by more than €50 on average every day over the last year. Following a 0.3 percent increase in the third quarter of 2007, the national average list price is now almost €241,000, 8.9 percent higher than a year ago. It means that Irish prices have risen by almost 47 percent on average from their lowest point in late 2013.
The number of properties available to buy on the market nationwide continues to fall. While the rate of decline is at its slowest in over five years, it is still driving up the competition for – and the prices of –  homes for sale.