Houses in Castlebar

Lads just had a chat with a relative who has paid the deposit on a new house in Castlebar its Buy to let. He reckons the rental will be around €750.00 per month which ties in with the Daft figure. I had a look at the number of houses for sale on Daft it gave a figure of 302 surely that is a huge number for what is basically a relatively small country town. Cork City centre has something under 200 for sale. Any comments :open_mouth:

Well, given the facts which you’ve just stated, it doesn’t take much thought to come to the conclusion that: he should take a hit on the deposit and put it down to experience.

Do you feel, as a relative, any kind of moral obligation to tell him what you think is a good idea or a bad idea?

A mate of mine bought a 2 bed flat in Dublin 3 (Richmond Road) last summer for €450,000. Whilst he was going through the process, I went out with him for a pint and explained to him my thoughts (I was a regular contributor to AAM and at the time) - I told him outright “I’m a definite bear when it comes to Irish property”. He didn’t listen though. I remember him at one stage bragging about how the estate agent told him his flat was worth €500k. He’s shut up about it now.

Yeah tried to talk to him but another relative from the West got the usual line you cant lose with property. By my quick calculations he will be subsidising his tenants to the tune of around €300.00 per month. Still cant believe the 302 houses what size is Castlebar

My mate’s subsidising his tenants (who he’ll be getting in soon) at least twice that amount. But what can you do?

Hello Guys
Castlebar is a large town, its the capital of Mayo and one of the largest towns in the west. It has all the infastructure you need, and has had high house prices in the last 5-6 years.

My dad is from there and may move back. Sell his house in lucan :wink:.

Well i’m from Westport. You think Castlebar prices are high then you should check out Westport :frowning:
I know of a site for a 5 bed house going for 1 Million, which comes complete with a panoramic view of a fishfood factory (i shit you not)
BTW. All the estates on the Westport rd in Castlebar are collectively known as ‘little Westport’ due to the fact that they are full of Westport people who have had to move to Castlebar due to ridiculous house prices. Basically they commute home to goto work and then leave home to get home.

Castlebar has a population of 12,000 and has 300 houses for sale.
Westport had a population of 4000 and has 140 houses for sale.

I get the impression that Westport prices are skewed by holiday home acquisition inflation. I’m against holiday homes in principle and that’s one reason why.

That being said, supply for Westport strikes me as a little on the high side now…are prices not starting to slide there yet?

My amazement came not from the price but from the number of properties for sale if COrk city centre has around 200 how can Castlebar have 300 odd according to DAFT