Average price of a house in Enniscrone is now almost 22% higher than before Covid

THE average price of a standard 3-bedroom house in Enniscrone is now almost 22% higher than before the Covid pandemic, according to a report this week. The west Sligo resort is one of 10 coastal locations nationally which are featured in the Daft.ie Coastal Report for 2021. According to the report properties by the coast are now on average 23% more expensive than before the pandemic. It states that in Enniscrone the price of a 3-bed house has risen from an average of €145,117 pre Covid to €174,446 at present. It states that the premium for properties in these coastal areas “has grown dramatically over the last year”.

“As a result of the increased premium, a property in these coastal areas is now 23% more expensive than before the pandemic. This compares to a national average increase of just 8.7% in the same period.”

Daft looked at close to 120,000 properties listed for sale nationwide on the daft. ie website from January 2019 to April 2021 and estimated how the price premium on coastal properties relative to other identical properties has changed over that time. The report states: “We find clear evidence that echoes the anecdotes that the price of coastal properties have been on the increase since the onset of the pandemic. In particular, we see an effect on properties that are, not just within 500 metres of the coast of Ireland, but in areas where more than 10% of the total stock of housing are holiday homes. This latter feature identifies those parts of the coast that are well-established in terms of coastal amenities, including beaches.” This report is based on an analysis of listed prices but, Daft says that, if anything, the growth has been even greater in transaction prices.

“Based on a sample of daft listings connected to the property price register, approximately one fifth of coastal properties are going for more than 10% of the asking price, approximately double the national ratio.”

In Enniscrone transaction prices have on average been 13.5% higher than the asking price.

The report also says that the shift in interest from cities to coastline is also being seen in website searches and stated preferences of those active in the housing market.

Comparing February 2021 with the same month last year, coastal area searches were up 45% whereas searches for Dublin city were down 59%.

In the case of Enniscrone, property searches were up by 46%.

Enniscrone, which is one of 10 coastal locations nationally which are featured in the Daft.ie Coastal Report.