Friday 18 October 2019

Sligo: Holiday home seekers boost the market

Average price: €120,000
Areas: Sligo Town, Tobercurry, Enniscrone, Rosses Point, Strandhill, Mullaghmore, Cliffoney
Up: + 9%
One Year Forecast: + 7%
Assessing Agent: DNG Flanagan Forde

Shane Flanagan saw the welcome return of the holiday house market to Sligo over the last 12 months.

Properties along the coast and in picturesque rural areas such as Rosses Point, Strandhill, Mullaghmore and Cliffoney have been doing well.

8 Brookgrove, Farmhill, Strandhill Road sold for €92,000 in May, 2014 and again later that year in September for €85,000
8 Brookgrove, Farmhill, Strandhill Road sold for €92,000 in May, 2014 and again later that year in September for €85,000

Coupled with the drying up of over-supply in Sligo town, this made for a busy year and Flanagan is positive about what 2015 will bring - with one major concern.

"I'm hoping that the 20pc deposit requirement will be modified and be brought in in a different, staggered form," he says.

Sligo
House Types201420152016
3-bed semi in town, €110,000 €120,000 €128,500
3-bed semi out of town, €90,000 €100,000 €107,000
4-bed semi in town (estate), €130,000 €150,000 €160,500
4-bed semi out of town, €115,000 €125,000 €134,000
4-bed detached in town, €160,000 €175,000 €187,500
4-bed detached out of town, €170,000 €190,000 €203,500
5-bed detached, €210,000 €230,000 €246,000
3-bed bungalow in town (outskirts), €125,000 €140,000 €150,000
3-bed bungalow outside town, €125,000 €140,000 €150,000
4-bed bungalow in town (outskirts), €200,000 €220,000 €235,500
4-bed bungalow outside town, €175,000 €200,000 €214,000
"Detached 2,000+ sq ft", €275,000 €300,000 €321,000
Holiday home, €140,000 €155,000 €166,000
1-bed apartment, €32,000 €35,000 €37,500
2-bed apartment, €50,000 €55,000 €59,000
2 up/2 down, €67,000 €75,000 €80,500
3-bed terrace, €80,000 €85,000 €91,000
2-bed cottage, €80,000 €90,000 €96,500
Ex-corporation 2 bed, €65,000 €70,000 €75,000
Ex-corporation 3 bed, €75,000 €80,000 €85,500

"As it stands, the proposal is too drastic and will exclude some first-time buyers from the market.

"When you think about it, those people already need another 5pc of the purchase price to cover legal fees, furniture and moving-in costs, they won't be able to cope with another 10pc."

STRANDHILL ROAD:Starter homes and larger family houses on the Strandhill Road out of Sligo town and in the seaside villages of Strandhill and Rosses Point are always in demand.
STRANDHILL ROAD:Starter homes and larger family houses on the Strandhill Road out of Sligo town and in the seaside villages of Strandhill and Rosses Point are always in demand.

Generally, Flanagan reports movement of property and increases of around 9pc across the board.

"There is still an over-supply in some of the smaller urban-renewal, tax-designated towns.

"Although that is gradually being dealt with as left-over estates are being completed.

"Property that is priced too high lingers on the market.

"That tends to happen at the upper end of the market with the one-off houses.

"At the lower end of the market, there is more to compare and pricing tends to be more accurate.

"Buyers are very educated - they rely on the Property Price Register.

"If the pricing is not appropriate, they will just not view a property and there will be very little activity.

"But if the pricing is right, viewings are busy and the offers come quickly."

Independent.ie Guide to House Prices in Ireland

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