HOUSE prices in County Donegal continue to rise and are up a staggering 65 per cent since pre Covid-19 prices, according to the latest house price report from Daft.ie published this week.
Donegal has seen the highest price rise of any county in house prices over the last twelve months. Local estate agent Brendan McGee of Franklin’s blames this highest price rise in the country on the lack of stock and the defective block crisis.
The current asking price of an average house in Donegal is now standing at €239,489 which is 12.4 per cent up on the same time last year, making Donegal the county with the highest percentage price increase at the end of September.
Prices and increases in neighbouring counties range from nine per cent in Mayo to 11.7 per cent in Leitrim where the asking price for an average house is now €206,857.
The average asking price for a house nationwide is now €344,828.
The average price of a new build house in Donegal is now €324,500 whereas nationally that average is €407,500, according to the report.
Daft.ie report the average price of a one bed apartment here is now €86,000, up eight per cent, a two bed terraced house is asking €115,000 up 11.5 per cent.
A three bed semi is costing €150,000 up 13.2 per cent, a four bed bungalow is asking €286,000 up 7.1 per cent and a five bed in Donegal is now asking €291,000 up 12.1 per cent.
Prices in Connaught/Ulster are up 9.1 per cent compared with this time last year.
Ronan Lyons, Professor of Economics at Trinity commenting said “the figures in this latest House Price Report give further support to the suspicion that the recovery of the second-hand market in Ireland from the double hit of the early 2020s is likely to take time as the true number of homes needed each year, if the housing deficit is to be addressed, is close to twice what was built last year.”
“Having looked at all the latest prices, Donegal certainly jumps out on the increased prices. We don’t have enough stock of houses and when you add in the defective block crisis there are less houses to go around.”
Receive quality journalism wherever you are, on any device. Keep up to date from the comfort of your own home with a digital subscription.
Any time | Any place | Anywhere
SUBSCRIBE TO CURRENT EDITION TODAY
and get access to our archive editions dating back to 2007(CLICK ON THE TITLE BELOW TO SUBSCRIBE)