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Donegal house prices 'static' so far this year 27.03.18

DONEGAL house prices "remained static" in the first three months of this year, a new survey shows.
The Real Estate Alliance report however shows that the average price of a three-bed semi in the county rose by 8.6% to €95,000 in the past year overall.
The REA Average House Price Survey recorded the actual sale price of "Ireland's typical stock home, the three-bed semi" up to the close business last week.
“There is a very limited stock of property,” said Michael McElhinney of REA McElhinney, Bundoran.
“The market has been static in the last three months, there is a limited supply of semi-detached properties, but demand has reduced,” said his Milford counterpart, Paul McElhinney.
The average semi-detached house nationally now costs €229,111, up 1.5% on the last quarter of 2017, the survey shows.
Overall, the average house price across the country rose by 9.1% over the past 12 year "indicating that the market is steadying after the 11.3% overall rise in 2017".
“The Dublin market has become quite price sensitive, even though we are seeing healthy demand and good liquidity with plenty of mortgage lending,” said REA spokesperson Barry McDonald.
“What we may be seeing, after the rapid increases of recent years, are the Central Bank mortgage lending restrictions imposing an upper level on purchasing power for some buyers.
“We are experiencing strong demand across the board, and homes are reaching sale agreed in just five weeks across the country – which is good news for both buyers and vendors," added Mr McDonald.
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