The price of the average second-hand three-bed semi in County Donegal has risen by 5.6% to €190,000 in the last three months, according to the latest Real Estate Alliance survey. That’s the second highest increase in the country after Offaly, but still the lowest average price in the country.
Prices have increased by 17% since March of last year, with homes selling in an average of four weeks, the Q1 REA Average House Price Index shows.
Market supply is still an issue in Donegal, with demand currently strong, according to Paul McElhinney of REA McElhinney, Milford.
He says there’s a limited amount of new builds in the county, but because those new builds are BER A-rated, their asking prices are 30% higher than comparable C-rated stock.
There are price variations across the county, with average Bundoran prices rising by 2.6% this quarter to an average of €200,000, an annual increase of 11%, while prices in Milford rose by 9.1% from January to March, to an average of €180,000 – a rise of 24% in a year.
The survey shows that across the county, 27pc of purchasers were first-time buyers, while a total of 15pc of sales in the county this quarter were attributed to landlords leaving the market.
