Friday 9 December 2016

Price Guide: Mayo

Published 20/09/2010 | 11:08

A stunning view of Clew Bay and the countryside from Croagh Patrick in Co Mayo
A stunning view of Clew Bay and the countryside from Croagh Patrick in Co Mayo

On average new and second-hand prices in Mayo fell by 22pc and 20pc over the four months to the end of August. One- and two-bedroom apartments experienced a significant shift in values over the past four months.

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However, four- and five-bedroom detached houses fell by between 19pc and 26pc since last April, and it is these significant falls that are pulling down overall averages.

Examples of recent sales include a three-bedroom semidetached house in Newport that sold for €145,000, a three-bedroom cottage in Achill in need of refurbishment for €95,000 and a four-bedroom semi-detached house in Castlebar for €152,000.

One agent believes “we have yet to hit the bottom rung of the ladder” in terms of property prices and that further drops could occur should banks cause forced sales.

Some Mayo respondents indicated a shortage of detached houses and cottages priced within the €100,000 to €200,000 range. In addition, agents pointed to an oversupply of one- and two-bedroom apartments and three-bedroom semi-detached houses.

There was little hope of an improvement in sales activity in Mayo over the next six months, although agents were a bit more optimistic about the chances of a modest improvement occurring in 12 months’ time.

New One-Bedroom Apartment

August 2010: €112,500

April 2010: €140,000

Peak Price: €210,000

Change Aug v Apr: -20pc

Change Aug 2010 v Peak: -46pc

Second-hand One-Bedroom Apartment

August 2010: €85,000

April 2010: €125,000

Peak Price: €190,000

Change Aug v Apr: -32pc

Change Aug 2010 v Peak: -55pc

New Two-Bedroom Apartment

August 2010: €121,700

April 2010: €150,000

Peak Price: €278,000

Change Aug v Apr: -19pc

Change Aug 2010 v Peak: -56pc

Second-hand Two-Bedroom Apartment

August 2010: €120,000

April 2010: €150,000

Peak Price: €260,000

Change Aug v Apr: -20pc

Change Aug-2010 v Peak: -54pc

New Two-Bedroom Townhouse

August 2010: €145,000

April 2010: €160,000

Peak Price: €250,000

Change Aug v Apr: -9pc

Change Aug 2010 v Peak: -42pc

Second-hand Two-Bedroom Townhouse

August 2010: €125,000

April 2010: €155,000

Peak Price: €230,000

Change Aug v Apr: -19pc

Change Aug 2010 v Peak: -46pc

New Three-Bedroom Townhouse

August 2010: €163,300

April 2010: €183,000

Peak Price: €240,000

Change Aug v Apr: -11pc

Change Aug 2010 v Peak: -32pc

Second-hand Three-Bedroom Townhouse

August 2010: €148,300

April 2010: €178,000

Peak Price: €275,000

Change Aug v Apr: -17pc

Change Aug 2010 v Peak: -46pc

New Three-Bedroom Semi-detached

August 2010: €161,000

April 2010: €185,000

Peak Price: €265,000

Change Aug v Apr: -13pc

Change Aug 2010 v Peak: -39pc

Second-hand Three-Bedroom Semi-detached

August 2010: €145,000

April 2010: €173,000

Peak Price: €270,000

Change Aug v Apr: -16pc

Change Aug 2010 v Peak: -46pc

New Four-Bed Semi-detached

August 2010: €172,500

April 2010: €205,000

Peak Price: €288,000

Change Aug v Apr: -16pc

Change Aug 2010 v Peak: -40pc

Second-hand Four-Bedroom Semi-detached

August 2010: €170,000

April 2010: €198,000

Peak Price: €285,000

Change Aug v Apr: -14pc

Change Aug 2010 v Peak: -40pc

New Four-Bedroom Detached

August 2010: €211,300

April 2010: €273,000

Peak Price: €378,000

Change Aug v Apr: -23pc

Change Aug-2010 v Peak: -44pc

Second-hand Four-Bedroom Detached

August 2010: €197,500

April 2010: €245,000

Peak Price: €365,000

Change Aug v Apr: -19pc

Change Aug 2010 v Peak: -46pc

New Five-Bedroom Detached

August 2010: €253,300

April 2010: €340,000

Peak Price: €400,000

Change Aug v Apr: -26pc

Change Aug 2010 v Peak: -37pc

Second-hand Five-Bedroom Detached

August 2010: €237,500

April 2010: €305,000

Peak Price: €385,000

Change Aug v Apr: -22pc

Change Aug 2010 v Peak: -38pc

Irish Independent

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