BREXIT and Sterling
uncertainty will be the "main drivers" of Donegal
house prices this year with price rises lower than
the national average as a result.
A survey by the Real Estate Alliance Group (REA) has
found that Donegal estate agents expect prices to
rise by 2.5% on average in 2017 compared to the
national average of 6.1%.
The latest REA Average House Price Survey reveals
that prices in Donegal increased by a total of 3%
over the past year bringing the average three-bed
semi to €85,000.
The latest Daft.ie survey, meanwhile, showed that
Donegal house prices rose by 11% in the last three
months of 2016 compared to the same period in 2015.
Daft.ie said the average asking price for a home
across all categories now stands at €140,000 in
REA McElhinney in Milford said supply in Donegal
"remains an issue and if property is available, the
demand will be there to meet it".
REA chairman Eamonn Spratt said: “The announcement
of the easing of the Central Bank restrictions has
given the market great short-term hope, but the real
problem in the property lies in supply.
“The fact remains that builders will not create
developments unless those properties can be sold for
more than €200,000."