Three-bed semi-detached homes have gone up in County Sligo by €13,500 in a year

The report for Q3 2024, in association with Bank of Ireland, shows that the median asking price for a property in the county is now €199,000. This means prices have risen by €1,500 compared with this time last year.

Asking prices for a 3-bed semi-detached house in the county fell by €6,500 over the quarter to €192,500. This means that prices in the segment rose by €13,500 compared to this time last year.

Meanwhile, the asking price for a 4-bed semi-detached house in Sligo rose by €5,000 over the quarter to €230,000. This price is up by €3,000 compared to this time last year.

There were 233 properties for sale in Sligo at the end of Q3 2024 – an increase of 6% on the quarter.

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

The author of the report, Conall MacCoille, Chief Economist at Bank of Ireland, said: "Perhaps the most striking news since our last MyHome report is that Ireland's population grew by 1.9% pace for a second successive year, to 5.38 million in 2024. We have not seen population and economic growth at this level since the Celtic tiger era, and as a result the housing market is being put under intense pressure.

He concluded: "The broad message from the MyHome asking price data is that the CSO's official measure of house price inflation, based on transactions, looks set to peak in the coming months. That said, residential property price inflation was 9.6% in July, ahead of our MyHome figures, because homebuyers are increasingly paying over and above the original asking price. Nonetheless, we still expect RPPI inflation to fall back in the coming months, and finish 2024 at 7.75%."

Looking ahead to 2025, and noting another expected cut to ECB rates, Mr MacCoille said another mid-single digit price gain looks likely.