Donegal house prices amongst
cheapest in Ireland
DONEGAL remains one the
cheapest counties in Ireland to purchase a home,
despite a 5.6% rise in the price of the average
three-bed semi in the last quarter, according to a
national survey carried out by Real Estate Alliance.
The REA Average House Price Survey concentrates on
the actual sale price of Ireland's typical stock
home, the three-bed semi, giving an up-to-date
picture of the property market in towns and cities
countrywide to the close of last week.
Despite the absence of sterling buyers because of
Brexit and the exchange rate, prices in some parts
of county Donegal have risen by an average of €6,250
since June, fuelled by an acute lack of supply of
This lack of supply has
seen prices in Bundoran rise by €10,000 or 11% in
the last quarter.
However, Donegal (€93,750) is still among the only
three counties, Longford (€90,000) and Leitrim
(€97,000), where properties can be still be
purchased for a five-figure sum.
“Brexit and the resulting exchange rate has reduced
the number of sales to sterling-based clients. What
is more, we see this situation continuing for the
foreseeable future,” said Michael McElhinney from
REA McElhinney in Bundoran.
In Milford, there is good demand for three-bad
family home, but the lack of supply is still an
issue, according to Paul McElhinney from REA
McElhinney in the town.
The average semi-detached house nationally now costs
€221,843, the Q3 REA Average House Price Survey has
found – a rise of 3.1% on the Q2 figure of €215,269.
Overall, the average house price across the country
has risen by 11.2% over the past 12 months – just
under twice the 6% increase registered to the full
year to September 2016.
The average three-bed semi-detached home in Dublin
city has jumped in value by €17,000 in the three
months to the end of September, and now costs
The 4.1% rise over the last quarter means that
prices in the capital’s postcode areas have
increased by 15.6% over the past year, with
properties selling in an average of four weeks after
hitting the market.
“Supply is the main driver of these continuing price
rises with our agents reporting that the volume of
listings is down around the country,” said REA
spokesperson Healy Hynes.