Friday 18 January 2019

Sligo house prices up €1k in a year

Property prices in Sligo have risen by €1,000 in the last year, according to the latest Property Report in association with Davy.

The report for Q1 2018 shows that the median asking price for a property in the county now stands at €140,000. This is unchanged from the previous quarter at the end of last year.

Year-on-year prices are up 0.7% from €139,000 a year ago.

Despite the annual increase, prices have still a way to go to reach the €149,000 level they reached in the second quarter of last year.

Similar to the overall prices, the asking price of a 3-bed semi-detached house in the county remained unchanged in the first three months of the year at €129,500. This also saw just a modest annual increase of 0.4% from this time last year.

Despite the fact that prices remained unchanged in the first quarter, this is the highest that prices for this house type have been in four years since standing at €130,500 in Q1 2014.

There was a fall in the asking price of 4-bed semi-detached homes in the first three months of 2018 though. These fell by €4,500 or 2.7% in Q1 to €162,500. This decline contributed to an annual fall of 5.8% with prices for this house type in the county now €10,000 behind where they were this time last year at €172,500.

Sligo is one of just five counties along with Dublin, Galway, Laois and Offaly where the number of properties for sale at present has grown from this time last year with stock up 12.4% year-on-year. The average time to go sale agreed on a property in the county now stands at just over 3 and a half months.

The report found that the prices of newly listed properties nationally rose by 4.8% in Q1 while prices in Dublin rose by 3.3%. Newly listed properties are seen as the most reliable indicator of future price movements.

The median asking price for new sales nationally is €260K while in Dublin it's €345K. The figure for outside Dublin is €210K.

Sligo Champion