Gerard O’Toole, Director at Tuohy O’Toole commented “ the performance of the residential property market across county Mayo has been rather patchy this year. However, the underlying trend is increased demand with the market being severally curtailed by supply shortages. This is creating upwards pressure on prices which we expect to continue through 2017.New supply is be hampered by little new construction as it remains unviable in many locations to successfully undertake speculative development. Prices remain c30% below peak values so there would appear to be ample head room in the market for further price growth. Economic uncertainties brought about by Brexit and the US Presidential election are also likely to dampen the market particularly at the upper end where traditionally UK buyers have been active”.
clink on the following link to see the results