Mayo property prices steady in first quarter of year

PROPERTY prices in Mayo have stayed steady during the first quarter of the year, according to the latest MyHome Property Price Report.

The report for Q1 2025, in association with Bank of Ireland, shows that the median asking price for a property in the county is still €195,000.

This means that, along with Roscommon and Sligo, Mayo was the third most affordable county in the country. It also means that prices have risen by €6,500 compared with this time last year.

Asking prices for a three-bed semi-detached house in the county fell by €4,000 over the quarter to €171,000. This means that prices in the segment have risen by €1,000 compared to this time last year.

Meanwhile, the asking price for a four-bed semi-detached house in Mayo fell €2,500 over the quarter to €227,000. This price is up by €25,000 compared to this time last year.

There were 416 properties for sale in Mayo at the end of Q1 2025 - a decrease of 7% over the quarter.

The average time for a property to go sale agreed in the county after being placed up for sale now stands at over four months.

On the national picture, author of the report, Conall MacCoille, Chief Economist at Bank of Ireland, said: “Record low supply and continued surging demand are still driving the property market, but the risk here is that Ireland’s relatively thin, illiquid housing market, reliant on those at the top of the income distribution, could be exposed to a sudden negative economic shock, such as the risk of a US-EU tariff war, especially if it were to disproportionately hit employment in the high-paid multinational sector.”

He said, however, that in the absence of a trade war, all signs point to further growth, and in that instance a forecast of 5% inflation for 2025 may even prove to be conservative.