House Prices are continuing to increase across the north west.
A recent survey from REA has found that prices have risen by 3.8 %to 4.5 % across the region.
The report also suggests that first time buyers are struggling to get on the property ladder.
The price of the average second-hand three-bed semi in County Sligo has risen by 4.5% to €172,500 in the last three months, according to a national survey by Real Estate Alliance.
The survey has shown that 25% of sales in Sligo County are to first-time buyers, with a quarter of all purchasers coming from outside the area.
Across the county, the average time taken to sell is four weeks, the Q1 REA Average House Price Index has shown.
Prices in Sligo town rose by €10,000 to €210,000, an increase of 5%, while prices in Tubbercurry rose by 3.9% to €135,000, up €5,000.
In Leitrim the price of the average second-hand three-bed semi has risen by 3.8% to €149,500 in the last three months.
The survey has found that that 44% of sales in the county are to first-time buyers, with 58% of all purchasers coming from outside the area.
The price of the average second-hand three-bed semi in County Donegal has risen by 3.9% to €132,500
29% of sales in the county are to first-time buyers, with 42% of all purchasers coming from outside the area.
Prices in Bundoran rose by €5,000 to €135,000, an increase of 3.9%, with 25% of sales to first-time buyers and 50% of buyers from outside the county.
Barry McDonald is a spokesperson for Real Estate Alliance. He says prices are continuing to increase in the north west and this is putting pressure on first time buyers
The REA Average House Price Survey concentrates on the actual sale price of Ireland’s typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.
Nationally, house prices are increasing at an average of almost €100 a day as the market shows no signs of slowing up in the early months of 2022.
Average house prices rose by 3.16% nationally in the first three months of year, matching the 1% a month increases experienced during the Celtic Tiger days.
The price of a three-bedroomed semi-detached house across the country rose by almost €9,000 over the past three months to €278,500 – representing an annual increase of over 14%.
