Western People – The average cost of buying a home in Mayo is revealed

0

By Keith Bourke

House prices in Mayo have jumped more than 15% in the past year, according to a new house price survey.

House prices rose 15.3% compared to the same period last year.

The latest house price survey from property site Daft.ie reveals that the average cost of a house in Mayo is now €200,760.

House prices in County Galway have risen by more than 16%, with the average cost of a house now standing at £263,000. Galway City prices rose by 13%, with average prices in the city exceeding €350,000.

House prices in Sligo rose by 15.4% and the average cost of a house in Yeats County reached €188,527. House prices in Roscommon have risen by 13.4%, with a house there costing an average of €187,534.

National house prices rose 3.8% on average between March and June, the biggest three-month rise in nearly two years.

The gap between rural and urban areas in housing inflation continues to narrow, although rural areas still see the largest increases.

Outside cities, prices rose 11.4% on the year to June, compared to a record inflation rate of 16.8% a year ago.

In Dublin, the annual price change was 6.6%, compared to just 3.4% at the end of 2021.

Commenting on the report, its author Ronan Lyons said: “The Irish property market has been characterized for several years by strong demand, boosted recently by unexpected savings, but supply which has steadily weakened. There are signs that both sides of the market could turn around.

“On the supply side, the number of homes listed over the last 12 months has increased by 30% since the start of 2021, although it is still 15% below the peak of 2019, while the construction of new homes is expected. reach a post-Celtic level. Tiger bred this year.

According to another survey by Real Estate Alliance, the price of an average second-hand three-bed semi in County Mayo has risen 2.7% to £189,000 in the last three months.

The survey showed that 50% of sales in the county are to first-time buyers, with 25% of all buyers coming from outside the region.

Countywide, the average time to sell is four weeks.

Share.

Comments are closed.