The average asking price for a house in Mayo is €174,335 according to latest figures released from the Daft House price report.
This report, published by property website Daft.ie shows that from the first to second quarter of 2011, there has been a two per cent decrease in house prices in the county.
For the second quarter of 2011 average house prices in Mayo have been €76,000 for a one bed; €126,000 for a two bed; €148,000 for a three bed; €203,000 for a four bed; and €261,000 for a five bed.
Year-on-year change in the Mayo region has been a decrease of 12.1 per cent; a change of 34.5 per cent from peak.
Nationwide, asking prices for residential properties has fallen by an average of 5.1 per cent during the second quarter of 2011, with the average asking price in June being €196,000.
The MyHome.ie Property Barometer, which also analyses property prices during the second quarter of 2011 has shown similar findings. The author of the MyHome.ie report, Annette Hughes, Director DKM Economic Consultants commented that: “At the moment our best hope for 2011 is that some moderation in the rate of decline in asking prices will begin to emerge over the second half of the year. While the worst of the recession is over, serious challenges remain. Significantly lower demand and difficulties accessing mortgage credit are adversely impacting on the market. The absence of any firm evidence that property prices have bottomed out combined with concerns about imminent interest rate rises, spending cuts and new taxes and charges appear to be making consumers reluctant to make major purchases.”
