Updated: 02/01/18 : 07:01:31
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Sligo house prices jump by 8.5%

The average first-time buyer had an income of €77,000 and a deposit of €52,800 saved up before buying a home in the capital during 2017.

Dublin home-buyers have been faced with taking on "higher levels of mortgage debt" despite strict Central Bank lending rules designed to cool the market.

House prices are expected to continue to rise in 2018 but at a slightly slower pace due to a tightening of the lending rules, according to the latest house price report from MyHome.ie

In Sligo, house asking prises rose by an average of 8.5% within the last three months of 2017 compared to the same period in 2016.
See Chart Below

In Leitrim the rise was a less impressive 1.8% while Donegal saw a decrease of -1.6%

The report, which is published in association with Davy, predicts house prices will rise by 8pc overall in 2018, split between double-digit growth outside the capital and a rise of 6pc or 7pc in Dublin.

The median asking price for new sales nationally was €242,000 in the final quarter of 2017. In Dublin, the median price was €330,000 (up 6.2pc), and €195,000 (up 6.3pc) in the rest of Ireland.

The report notes that the Central Bank of Ireland has tightened its mortgage lending rules for 2018, which will affect trader-uppers.