Prices in Sligo are up 6pc on 12 months ago but with the gradual return of new-home schemes set to accelerate in 2020, this sort of inflation is likely to moderate going forward. In particular there's the coming launch of a new 86-unit residential scheme in Sligo town.
Buyers are expected to show keen interest in the A-rated houses on offer at Ard Finn on Strandhill Road, comprising mostly three- and four-bed semi-detached homes.
The planned development is a measure of the strength of the local economy, where last year big investment by the American online retail and technology company Overstock in its new European operation created 100 new jobs. Sligo is also being buoyed up by new road upgrades and improvements to the town centre.
"Sligo is thriving," says agent Shane Flanagan of DNG Flanagan Ford. "There's a positive vibe around the place and people are investing in property, especially apartments and townhouses."
|3-BED SEMI IN TOWN||€160,000||€170,000||€175,000|
|3-bed Semi Out Of Town||€150,000||€165,000||€170,000|
|4-bed Semi In Town (estate)||€200,000||€215,000||€225,000|
|4-bed Semi Out Of Town||€180,000||€195,000||€205,000|
|4-bed Detached In Town||€240,000||€250,000||€265,000|
|4-bed Detached Out Of Town||€240,000||€250,000||€265,000|
|3-bed Bungalow In Town (outskirts)||€210,000||€220,000||€235,000|
|3-bed Bungalow Outside Town||€210,000||€220,000||€235,000|
|4-bed Bungalow In Town (outskirts)||€280,000||€290,000||€300,000|
|4-bed Bungalow Outside Town||€270,000||€280,000||€290,000|
|Detached 2000+ Sq Ft||€410,000||€425,000||€450,000|
According to Flanagan, first-time buyers want energy- efficient, A-rated homes finished to a high standard and don't need the extra spending that might be required to bring a second-hand up to standard. As a result, such properties are in high demand.
He reports that three- and four-bed semis in town are selling best with good interest also in large detached houses out of town.
Located 8km west of Sligo town, the trendy seaside resort is known as the ‘surfing capital of the North West.’
"That type of house is especially popular among highly paid professionals who divide their working week between Sligo and Dublin," he says. "They don't have to sell in Dublin to be able to afford a property here."
Flanagan says Sligo has maintained its healthy growth pattern of recent years, with a good, steady flow of stock to market.
All types of property in the county have experienced price growth, including 6pc for in-town semi-detached houses, 8-10pc for out-of-town semis, 4pc for four-bed detached houses and 8pc for the larger five-bed variety. There is a strong demand for one-bed apartments within walking distance of Sligo town.
Flanagan predicts growth will continue this year, albeit at a halved rated of inflation at 3pc likely. "Property in Sligo has seen a gradual price increase in the last five years, with no major jumps in value," he says. "Houses are affordable and there's good supply and demand, consistent with a solid property market."