Donegal house price shows greatest fall in the country

Donegal house price shows greatest fall in the country
The price of 3 bed semis in Donegal has suffered the largest quarterly fall of any Irish county, according to the latest survey from property website MyHome.ie.

The price of 3 bed semis in Donegal has suffered the largest quarterly fall of any Irish county, according to the latest survey from property website MyHome.ie.

The survey shows that the median asking price of a 3 bed semi-detached home in Donegal fell by €30,000 to €99,000 – a drop of 23.3%.

This means that Donegal is one of only four counties after Longford, Leitrim and Laois, where the median asking price is below the €100,000 mark.

There was a similar story in relation to the median asking price of 4 bed semi-detached homes in Donegal. They suffered a €32,500 drop in the quarter as they fell for the first time in a year to €117,500 – a decrease of 21.67%.. That means that asking prices in Donegal are now the cheapest in Ulster after suffering the largest decline in the first quarter of any county nationally.

The rate of decline in property prices nationally has continued to moderate with prices falling by 1.8% in the first quarter of 2013. This compares with a fall of 3% in the previous quarter.

Annual rate of decline

According to the latest house price survey from MyHome.ie the annual rate of decline in the year to Q1 2013 was 9.8%, the lowest annual rate of decline in five years.

For the first time since the property crash in 2006, Dublin prices have remained unchanged for the second quarter in a row. The annual rate of decline in Dublin was 4.8% in the quarter, down from 12% in Q4 2012.