Prices of four-bed houses in Mayo up marginally

Asking prices for four-bed semi-detached houses in Mayo have shown tentative signs of growth in the third quarter of 2013, with the latest survey from property website MyHome.ie showing that prices for this house type rose by 0.4 per cent to €140,000 in the quarter.

This is a welcome reversal of the downward trend in the price of four-bed houses which had fallen seven per cent in the second quarter of the year. Prices of four-bed semis are, however, still 12.5 per cent lower than they were 12 months ago, the survey reveals.

The picture, however, was different in the case of three-bed semi-detached houses, with the MyHome.ie survey showing a continuing fall in prices, with a further 6.8 per cent fall in the third quarter in the third quarter to €116,500. This means that the asking price for three-bed semis in Mayo has fallen by more than 47 per cent from their peak in late 2006.

Meanwhile the mix adjusted average asking price nationally declined by 1.4 per cent to stand at €190K, down 54 per cent from the peak of the market in Q4 2006. Nationally, the annual rate of decline is 7.8 per cent.

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