Donegal house prices show small increase - survey

Despite a marginal fall in house prices nation wide in the last quarter, Donegal prices recorded a small growth in the same period.

Despite a marginal fall in house prices nation wide in the last quarter, Donegal prices recorded a small growth in the same period.

The average asking price for a house in Ireland fell by 1% in the final three months of 2014, according to the Year in Review House Price Report released on Monday by Daft.ie.

Despite this recent fall, the average asking price nationwide is now €193,000, 12.8% higher than the value of €171,000 a year ago.

In Donegal, prices in the final quarter of 2014 were less than 1% higher than a year previously, compared to a fall of 7% seen a year ago. The average house price is now €115,000, 57% below its peak in 2007 which is still well below the national average.

Commenting on the figures, author of the Daft.ie Report, Ronan Lyons said: “The intention of the proposed Central Bank limits on mortgage lending is to limit increases in house prices by affecting both buyer expectations and the credit available to them.

“It seems that, even though the limits have not yet come into force, they have already had some impact. Restricting the amount lent to each household is a necessary first step to ensuring a stable housing market.”