The daft.ie rental report showed that rents remained very stable in Mayo in the 12 month period from March 2013 to March 2014, with rents falling by just 0.7 per cent from this time a year ago, compared to the 1.1 per cent fall in rents over the previous 12 months.
Currently the average advertised monthly rent in Mayo is now €531, which is 23 per cent down on its peak figure in 2007. The myhome.ie study which is based on an analysis of the Property Price Register showed that the number and value of transactions in Mayo rose slightly last year compared to the 2012 returns. According to the report, there were 613 property sales in Mayo in 2013 up four per cent from the year before, when there were 590 sales. The research also showed that there was just under €68 million spent on property in Mayo last year, which was a six per cent increase on the amount spent in 2012. Ballina remained the most active area for property sales in the county with 100 sales going through, but this itself was a drop of 14 per cent compared to the previous year. Other areas that saw a drop in the numbers of property transactions were Ballyhaunis which was down 20 per cent and Westport which fell by 18 per cent.
Apart from Ballina the other most popular areas for property transactions were, Castlebar (90 ), Westport (82 ), Claremorris (47 ), and Swinford (26 ). Percentage wise the likes of Claremorris, Achill, Foxford, and Newport all remained largely unchanged in terms of sales, although good growth was recorded in Crossmolina (550 per cent ), Louisburgh (180 per cent ), Charlestown (133 per cent ), Knock (100 per cent ), Swinford (53 per cent ), and Castlebar (eight per cent ) from the previous year.