Mayo house prices and construction activity revealed

A new report has revealed the average selling price for a home in Mayo is now more than €220,000.

The latest GeoDirectory Residential Buildings Report for Q2 2024 also details the rate of construction in the county.

There were 486 new residential address points in Mayo added to the GeoDirectory database in the twelve months to June 2024.

The report, prepared by EY, found that a further 587 residential buildings were under construction across the county in June 2024.

In May 2024 the average house price nationally was €381,749.  In Mayo, the average property transaction price was €224,955.

The lowest vacancy rates in the country were recorded in Dublin (1.2%), Kildare (1.3%), Waterford (2.3%) and Carlow (2.5%), while the highest residential vacancy rates continue to be found along the North and Midwest coast. 

Leitrim, at 12% was the county with the highest vacancy rate, along with Mayo (10.7%), Roscommon (10.2%), Donegal (9.2%) and Sligo (8.2%).

A further 20,413 residential buildings were classified as derelict in June 2024, with 13.8% of these located in Mayo.

In Mayo, the residential vacancy rate in Q2 2024 was 10.7%. The national vacancy rate remained at a record low of 3.9%, which is unchanged from the corresponding period in Q2 2023.

A total of 82,031 residential properties were recorded as vacant in June 2024.

Nationally, 31,384 address points were added to the GeoDirectory database. The highest proportion were located in Dublin with over a third of the overall total (10,508), followed by Cork (3,621), Meath (1,812) and Kildare (1,599). Counties in Leinster accounted for over two-thirds (66.2%) of the new address points.

The total number of buildings under construction nationally in June 2024 was down 4.3%, or 991 buildings, compared to June 2023. Of the 21,851 residential buildings under construction last month, 13.7% were located in Dublin (2,985 buildings), closely followed by Cork (2,844 buildings). the report showed construction activity was weakest in the neighbouring counties of Sligo, Roscommon, Leitrim and Longford where there were fewer than 200 buildings under construction.