House prices in Mayo increase by 6.5% in last three months

According to a national survey by Real Estate Alliance, the average price in Westport this quarter rose by 10% to €330,000, and Castlebar prices rose by 6.5% to €230,000.

The survey shows that across the county, 75% of purchasers were first-time buyers and 10% of purchasers were from outside of the county.

A total of 20% of sales in the county this quarter were attributed to landlords leaving the market.

The average time taken to sell this quarter rose by one week to a total of four, the Q3 REA Average House Price Index shows.

Robert McGreal of REA McGreal Burke Estate Agents said, "All types of properties, particularly owner occupied dwellings, are selling well presently."

The REA Average House Price Index concentrates on the 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.

The actual selling price of a three-bed, semi-detached house across the country rose by 2.7% in the past three months to €323,741.

Time taken to reach sale agreed nationally has dropped to four weeks as low supply continues to drive sales.

A supply drought in Dublin has reignited the commuter property market as buyers battle to secure affordable family homes, the Index has found.

Frustration in the capital has led to the return of the previously unheated commuter market, which has risen by 2.9% over the past three months to an average of €336,944.

Homes in the country's large towns continue to show the biggest growth nationwide, up 10% on last September and 3.6% this quarter to an average of €243,241.