Mayo house prices rise by 15

The price of an average three-bed semi-detached house in Mayo rose by 15.15% in 2014, according to a national survey carried out by Real Estate Alliance.

The Real Estate Alliance Average House Index concentrates on Ireland's typical stock home, the three-bed semi, giving an accurate picture of the property market in towns and cities countrywide.

The average three-bed semi-detached house in Mayo now costs €190,000, with the market staying flat in Q4 from September to December, and houses now taking three weeks to sell, down from six weeks in June 2014.

REA Olivia Needham in Mayo are predicting a rise of 5% in prices in 2015, following the ending of the uncertainty over the Central Bank’s mortgage deposit rules.

Nationally, the average three-bed semi now costs €184,713, the latest REA survey has found – a rise of 2.63% on the Q4 figure of €179,981. While every county showed an increase in three-bed semi prices, the market slowed down in the Dublin area between September and December 2014, with one area registering a -6.67% drop in prices.