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Slight fall in average Donegal house price 02.01.18

THE average house price in Donegal is now €137,000, 2% lower that a year ago and nearly 50% below peak levels during the boom. The average house price in Donegal in January 2017 was €140,000 by comparison.
The latest figures are contained in the Daft.ie house price survey which shows that house prices nationally rose by an average of €20,000 last year.
It shows that the number of properties available to buy on the market nationwide continues to fall. There were just over 21,000 properties on the market on December 1, 2017. This is 2.6% lower than the same date a year ago. The total number of properties available has now fallen year-on-year for 100 months, having been above 62,000 in late 2009.
Report author Ronan Lyons said: “The main feature of the property market in 2017 was just how different the second half was from the first. The first half of the year saw prices jump by 9% in six months, as the relaxation of Central Bank rules for first-time buyers was factored into prices. But the second half of the year saw almost no change in prices, as those very same rules linking mortgages to the real economy placed a break on prices.
“The overall picture of the market remains one of strong demand but very tight supply, in particular of new homes.
Ronan Lyons.
"As we enter 2018, increasing supply – especially of apartments in Ireland’s major cities – must become the key success metric for policymakers when it comes to the housing market.”
Martin Clancy from Daft.ie said “Interest and demand in the property market continues to grow. We are now seeing over 1,000 property searches taking place every minute on Daft.ie.”
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