News

Donegal property prices have gone up by €20,000 in the last year

House prices in the county are back up to the highest they have been six years

Tom Comack

Reporter:

Tom Comack

Email:

tom.comack@donegaldemocrat.com

Donegal property prices

Donegal property prices

Donegal house prices have risen by €20,000 in the last twelve months according to the latest figures to come to hand.

In their end of quarter report ,MyHome.ie in association with Davy have revealed the median asking price for a property in the county now stands at €149,975.

This was up 15.4% both in the quarter and year-on-year after six consecutive quarters at €130,000.

This means prices in Donegal are now at their highest level since standing at €150,000 in quarter two, in  2013.

The rise in prices was reflected in the asking price for a three-bed semi-detached house in the county, which were up 13.5% in the quarter from €100,000 to €113,500. This contributed to an annual increase of 19.5% with prices for this house type €18,5000 ahead of where they were this time last year.

 The asking price for four-bed semi-detached house in Donegal was up 3.4% from €132,500 to €137,000 in the first quarter of the year. This contributed to an annual increase of 8.3% with prices now €10,500 ahead of where they were this time last year.

However, the number of properties for sale in Donegal on MyHome.ie fell by 3.4% in the last quarter and were 9.6% behind where they were this time last year.

The increase in Donegal property prices are in stark contrast to property prices in Dublin which have slowed down considerably in the first quarter of 2019.

The author of the report, Conall MacCoille, Chief Economist at Davy, said the slowdown in price inflation, which was concentrated in Dublin, was largely due to the Central Bank’s lending rules and unrealistic price expectations rather than uncertainties caused by Brexit.