The price of the average house in Sligo has risen by 3.8% over the past 12 months, a national property survey has found.
The REA Average House Price Survey found that the price of the average three-bed semi-detached house in the county rose to €137,500 over the past 12 months.
“We are seeing shortage of all property types throughout Sligo,” said Roger McCarrick of REA McCarrick and Sons Tubbercurry and Sligo Town.
“Cash buyers are still strong, and we are seeing increased enquiries from Dublin and Leinster areas about all types of properties in the West, prompted by Covid-19 circumstances.”
Prices in Sligo town rose by 2.9% over the past 12 months to €175,000, with time taken to sell remaining at eight weeks this quarter.
In Tubbercurry, prices rose 5.3% to €100,000 in the same period, with time taken to sell rising by a fortnight this quarter to 10 weeks.
The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.
The average three bed semi nationally is now reaching sale agreed after seven weeks across the country – a significant fall from the ten-week average in June.
Despite fears of a downturn in the market during the Covid-19 crisis, the price of a three-bedroomed semi-detached house across the country rose by 0.6% over the past three months to €236,046, an annual increase of 0.4%.
Reflecting the beginnings of a flight to rural locations, prices in the rest of the country’s towns rose by almost 1% in 12 weeks to €163,345.
“Buyers are more focused, with a higher percentage of bids being made, and in many cases are looking to secure homes before their current mortgage approval runs out,” said REA spokesperson, Barry McDonald.