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Average Donegal house price now €126,000 04.01.16

THE average price of a house in Co Donegal now stands at €126,000 - 10% above its lowest point, according to the latest survey.
It also shows that prices in the county in the last quarter of 2015 were 9% higher than a year previously.
This was almost on a par with the national average rise of 8.5%, the property website's House Price Report reveals.
The national average hides "a significant difference between Dublin, where prices rose by just 2.7%, and the rest of the country, where the average increase was 13.1%".
The Irish average asking price in the final quarter of 2015 was €204,000, compared to €188,000 a year ago and €164,000 at its lowest point in early 2013, the report shows.
The property company said the total stock of properties for sale is now at its lowest point in nearly nine years, with just over 25,000 properties for sale nationwide.
A year ago, there were nearly 30,000 properties on the market while "the bulk of the reduction comes from outside the five main cities".
The report's author Ronan Lyons said:
“The dramatic slowdown in Dublin house prices in 2015 shows how effective the Central Bank rules have been. This has not been the case elsewhere in the country as house prices are lower relative to incomes and thus the new rules have not been as binding. Some have criticised the new rules as hindering new housing supply but the solution to a lack of supply is not stimulating demand even more. If supply is lacking, the solution to this must be found in reducing construction costs, not in giving borrowers access to potentially dangerous levels of mortgage credit.”
Ronan Lyons.
Average list price and year-on-year change – major cities, Q4 2015
Dublin City: €306,613 – up 2.7%
Cork City: €227,196 – up 20.7%
Galway City: €223,602 – up 19.7%
Limerick City: €145,244 – up 22.3%
Waterford City: €129,397 – up 18.6%
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