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Cost of a three-bed semi will rise by 5% in Sligo in 2022

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Roger McCarrick

Roger McCarrick

Roger McCarrick

sligochampion

The price of the average three-bed semi in County Sligo is expected to rise by 5% in the next 12 months, according to a survey by Real Estate Alliance.

Three-bed semi-detached homes in the county now cost an average of €165,000, up 4.8% in the last three months and 14% on the December 2020 average of €145,000, the REA Average House Price Index shows.

The survey concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide. Landlords exiting the market have accounted for almost one in four home sales over the past three months, the data shows.

In Sligo town, prices rose by 5.7% in the final quarter of 2021, to €200,000, representing an annual increase of 11.1%. Prices in Tubbercurry rose to €130,000, increasing 4% over three months and 18.2% annually.

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“There is a shortage of building in Sligo town which is driving demand for the second-hand market,” said Roger McCarrick of REA McCarrick & Sons. “The limited supply is driving the price on anything that does come onto the market,” he said.

Average house prices rose by 2.24% nationally in the last three months of 2021, half the rise experienced between June and September as demand eased and the market calmed.

The price of a three-bedroomed semi-detached house across the country rose by €5,900 over the past three months to €269,963 – representing an annual increase of 13%. Selling prices rose in commuter areas (3.34%) and the country’s large towns (2.57%) as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.

The commuter area increases are treble those in Ireland’s major cities, with Dublin increasing by 1% and Cork, Limerick and Galway by an average of 0.8% as agents reported a quieter quarter. Cork, Limerick, Galway and Waterford cities shared a combined increase of 0.8% in the past 12 weeks with the average three bed semi now costing €283,000.


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