PROPERTY PRICES in Donegal have risen by €15,475 in the last quarter, according to the latest MyHome Property Price Report.
The report for the end of 2024, in association with Bank of Ireland, shows that the median asking price for a property in the county is now €245,475.
This means prices have risen by €35,525 compared with this time last year.
Asking prices for a 3-bed semi-detached house in the county rose by €10,000 over the quarter to €185,000. This means that prices in the segment have risen by €13,000 compared to this time last year.
Meanwhile, the asking price for a 4-bed semi-detached house in Donegal rose by €19,000 over the quarter to €269,000. This price is up by €74,000 compared to this time last year.
There were 244 properties for sale in Donegal at the end of Q4 2024 – an increase of 14 per cent over the quarter.
The average time for a property to go sale agreed in the county after being placed up for sale now stands at nearly five months.
The author of the report, Conall MacCoille, Chief Economist at Bank of Ireland, said: “The message from this report is that pricing has retained its momentum, and has still not softened even as affordability has become stretched through 2024.
“Demand is still fierce in the market and indeed has strengthened as the year has gone on.
“This demand has been impacted by rising mortgage approval values, and the first-time buyer market is particularly hot.”
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