Tuesday 17 October 2017

No shortage of good quality houses as emigration takes its toll in Mayo

1798 re-enactment in Castlebar, Co Mayo
1798 re-enactment in Castlebar, Co Mayo
Mark Keenan

Mark Keenan

MAYO

Westport, Claremorris, Ballinrobe, Castlebar

No change

One Year Forecast: No change

Average Price: €100,000

Assessing Agent: Fox & Gallagher/Property Partners Durcan

The Market:

The market in Mayo remains highly volatile and inconsistent at best with prices continuing to slide in line with the population.

There is certainly no shortage of good-quality houses here, even in the larger population centres of Ballina or Castlebar. Westport remains the exception; buyers can expect to pay at least a 15% premium over the other towns in the county.

Overall, prices remain at around 50% of build cost and in more rural parts of the county 2,400 sq ft houses are available for well under €100,000. There has been very little movement in prices and agents are not optimistic for 2014. Much depends on the availability of bank credit and Mayo is seeing as high a ratio of cash purchases as anywhere else.

People could be forgiven for thinking sterling, rather than the euro, was the currency in Mayo. A large proportion of cash sales are from buyers based in England – many of them for holiday homes.

The rental market too remains weak as emigration continues to take its traditional toll.

The Prices:

1-bed apartment:

Jan 2013: €45,000

Jan 2014: €45,000

Jan 2015: €45,000

2-bed apartment:

Jan 2013: €90,000

Jan 2014: €90,000

Jan 2015: €90,000

3-bed terrace:

Jan 2013: €95,000

Jan 2014: €95,000

Jan 2015: €95,000

Ex-corporation 3-bed:

Jan 2013: €65,000

Jan 2014: €65,000

Jan 2015: €65,000

3-bed semi in town:

Jan 2013: €110,000

Jan 2014: €110,000

Jan 2015: €110,000

3-bed semi out of town:

Jan 2013: €85,000

Jan 2014: €85,000

Jan 2015: €85,000

4-bed semi in town:

Jan 2013: €145,000

Jan 2014: €145,000

Jan 2015: €145,000

4-bed detached:

Jan 2013: €170,000

Jan 2014: €170,000

Jan 2015: €170,000

5-bed detached:

Jan 2013: €190,000

Jan 2014: €190,000

Jan 2015: €190,000

3-bed bungalow in town:

Jan 2013: €130,000

Jan 2014: €130,000

Jan 2015: €130,000

3-bed bungalow outside town:

Jan 2013: €115,000

Jan 2014: €115,000

Jan 2015: €115,000

4-bed bungalow in town:

Jan 2013: €160,000

Jan 2014: €160,000

Jan 2015: €160,000

4-bed bungalow outside town:

Jan 2013: €120,000

Jan 2014: €120,000

Jan 2015: €120,000

Irish Independent

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