Significant jump revealed in Mayo property prices in one year

Property prices in Mayo have risen by €25,000 in the last year, according to the latest MyHome Property Price Report. This is the second-largest percentage price increase in the country year on year. 

The report for Q3 2025, in association with Bank of Ireland, shows that the median asking price for a property in the county is now €220,000. This means prices are up by €20,000 over a three month period.    

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Asking prices for a 3-bed semi-detached house in the county rose by €16,500 in the last year to €190,000. This means that prices rose by €12,500 over the quarter.   

Meanwhile, the asking price for a 4-bed semi-detached house in Mayo rose by €15,000 over the last year to €250,000. This price is also up €15,000 over a three month period.   

There were 479 properties for sale in Mayo at the end of Q3 2025 – an increase of 4 percent over the quarter.     

The average time for a property to go sale agreed in the county after being placed up for sale now stands at just over three months.   

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National picture  

The author of the report, Conall MacCoille, Chief Economist at Bank of Ireland, said: “The MyHome report provides evidence house price inflation is finally slowing down. But the pace of price rises is merely softening. The market is still extremely difficult; there are currently just 13,000 properties listed for sale on MyHome, flat on the year and still down from the levels exceeding 20,000 seen prior to the Covid-19 pandemic.” 

Mr MacCoille said that even though affordability was becoming more stretched, competition in the market was still fierce. “The average residential property sold in 2025 had a price of €426,000, eight times the average earnings of €53,000. By this metric, Irish house price-to-earnings are now at their most expensive level since 2009. 

“However, such is the level of competition among homebuyers that the typical property in September was sold 8% above the original asking price, a fresh high. A fifth of transactions was settled at 20% or more above asking.” 

He said that despite the difficult market, home completions represented a silver lining, rising to 32,700 in the twelve months to June, the highest level since the Celtic Tiger era. 

“Misleading reports that homebuilding was likely to contract in 2025 have proven well wide of the mark. Encouragingly, the 4-Dublin Housing Supply Pipeline shows there were 22,711 units under construction in the capital in Q1 2025, up 27% on the year. Hence, we are sticking with our forecast for 34,500 completions in 2025.” 

Mr MacCoille said it was likely that the sharp pace at which first-time buyers have taken on higher levels of mortgage debt would slow next year and added that it wasn’t too surprising to see the Irish housing market “pause for breath”. 

“Two years of ‘high-single-digit’ price gains have stretched affordability. House prices are now likely to rise closer to the current pace of average earnings growth at 5%. This certainly isn’t the solution to Ireland’s housing problem.  However, at least the deterioration in affordability seems to be levelling off for now.” 

Joanne Geary, Managing Director of MyHome, said: “It is encouraging to observe that home completions have reached their highest level in nearly two decades, suggesting that the Government’s sustained emphasis on supply is yielding positive outcomes.  

“Nonetheless, significant improvements in supply are likely to be evident only over the medium to long term, so maintaining momentum remains critical. The Government should continue to seek and implement effective measures to further encourage homebuilding activity.”