€500,000 spans range of house prices in Donegal

Declan Magee

Reporter:

Declan Magee

Houses sold in Donegal this year have ranged in price between €5,000 and €520,000 according to the new Property Price Register launched by the Property Services Regulatory Authority (PSRA)earlier this week.

Houses sold in Donegal this year have ranged in price between €5,000 and €520,000 according to the new Property Price Register launched by the Property Services Regulatory Authority (PSRA)earlier this week.

According to the register 416 houses were sold in the county this year up until the third week of September. There were 524 home sales in the county last year with 620 sold in 2010, the first year covered by the register.

The highest prices paid was for Linsfort House near Buncrana. Built in 1828 by a local landlord it was sold last year by the Loreto nuns, who had owned it since 1928, due to falling vocations.

The lowest price of €5,000 was paid for a property in Fintown.

Among the highest-priced properties sold in the county this year was a €400,000 paid for a house in Dunfanaghy, a house in Malinmore went for the same price and €380,000 was paid for a home in Quigley’s Point, Inishowen.

Other high prices included €310,000 for a home at Bridgend, Inishowen; €285,000 for a house at St. John’s Point; €280,000 for a terraced house with sea views in Moville; and €265,000 for a homes in Ballybofey and Rossnowlagh.

Inishowen registered most of the highest-selling homes in the county.

At the other end of the market a house in Meenlaragh sold for €10,000; €23,700 was paid for a home in Malinmore, Glencolmcille and €20,000 was paid for an apartment in Letterkenny and a house in Kinclassagh.

The website gives details of the date of sale, the address of each residential property sold since the beginning of January.

It has been described as the return of ‘property porn’ with the price now available of any residential property sold.

Help stimulate market

It is also hoped that the site will help stimulate the property market.

Dermot Rainey, director of Sherry FitzGerald Rainey estate agents in Letterkenny, said the register is a useful tool but may it may not help stimulate the market. He said more information could be added such as the size of the property and the sixe of the plot of land it is on. “I don’t think that on its own it will help stimulate the property market but it is welcome as a transparency tool that actually shows what sales prices are,” he said.

“But the problems of finance and the lack of market confidence remain but it certainly is welcome and it is useful for vendors, purchasers, estate agents and valuers to see what has recently gone on in the market.”