The price of the average three-bed semi in County Donegal has increased for the first time since 2017 according to a national survey carried out by Real Estate Alliance.
Prices in County Donegal rose by 4.2% to €99,000 over the past three months, the REA Average House Price Survey found.
The REA Average House Price Survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide to the close of last week.
“Although there is Brexit fear, we are still seeing good activity in the lower-priced ranges for starter homes and investor properties,” said Paul McElhinney of REA McElhinney in Milford.
“The current limited supply of houses along with an increasing demand for property have seen prices increasing across the county.
"Some of this may be driven by a small but steady rise in enquiries and sales to UK residents, not necessarily those who have roots here.
“With prices still not reaching construction costs, there are relatively no new developments to meet demand so the expectation would be a steady rise into the next quarter.”
The price of the average three-bed semi in Milford rose by 5.26% to €100,000 this quarter, with the average time taken to sell remaining at six weeks.
Bundoran prices rose by 3.16% this quarter and three-bed-semis are currently on the market at an average of €98,000, while the average time taken to sell remained at seven weeks.
The average semi-detached house nationally now costs €235,009, the Q3 REA Average House Price Survey has found – a drop of 0.43% on the Q2 2019 figure of €236,028.
The price of a three-bedroom semi in Dublin’s postal zones fell by an average of €4,500 in the past three months as Brexit uncertainty affects buyers.
Three-bed semi-detached houses in Dublin city registered a third consecutive quarter fall (-1%) since the end of June and have decreased by -3.3% to €428,500 compared to September 2018.
Prices also fell by 1% in the commuter counties in the past three months, with the average house now selling for €246,611 – an annual fall of 0.7%.
After a year of rises to June, agents are citing an uncertainty surrounding Brexit hampering viewing numbers.
Prices in the country’s major cities outside Dublin – Cork, Galway, Waterford and Limerick – remained unchanged in the past three months.
“The highest annual price increases (3.3%) were once again seen in the rest of the country’s towns which rose in selling price by an average of €5,000 in the past year and 0.36% in the past three months to €161,724,” said REA spokesperson Barry McDonald.
Ends
Available for interview:
Paul McElhinney, REA McElhinney Milford, 086 122 9335
Media information: Holly Carr, 085 777 8568 holly@mediaconsult.ie
