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Donegal’s homes are ‘cheap’

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DONEGAL is now one of the cheapest places in Ireland to buy a home according to the latest MyHome.ie survey published today (Monday).

The average price of a 3-bed semi detached home here is now €76,750 with the price of 4-bed semi averaging €84,500.

This most recent survey shows that asking prices for houses in Donegal have fallen by almost two thirds since the peak of the market.

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The latest report for Quarter 3 of 2013 shows that Donegal is now the cheapest county in Ireland to buy either a three or four bed semi-detached home.

The median asking price of a three bed semi in Donegal fell by 19 per cent during the last quarter to €76,750, leaving it €250 behind Leitrim as the cheapest place to buy a home in Ireland right now.

That drop from €95,000 means that the annual rate of decline is now 44.7 per cent, with prices in Donegal having fallen by 63.5 per cent since the peak – the second largest fall in the country outside of Leitrim.

There was a similar story in relation to four bed semi-detached homes in the county with the median asking price falling by 14.7 per cent during the last quarter to €84,500.
That drop from €99,000 was the second largest recorded nationally after Leitrim.
In Dublin prices increased by 0.9 per cent, continuing the positive growth seen in the previous quarter.

The author of the report, Caroline Kelleher from DKM Economic Consultants said the figures show the two tier market which exists between Dublin and the rest of the country is continuing to gather momentum.

“The average mix adjusted asking price in Dublin is now 26 per cent above the national average. However, as the lack of supply is a key issue impacting on both asking and transaction prices, the mild recovery in Dublin asking prices may be stymied in coming months,” Ms Kelleher said.

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Donegal News is published by North West of Ireland Printing & Publishing Company Limited, trading as North-West News Group.
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