Revealed: The average asking price for a property in Donegal

first_imgIn the latest housing report it is revealed that nationally prices are increasing for the second quarter in a row.According to the report by Ronan Lyons, the national average list price in June was 8.8% higher than in December.Lyons predicts that the strong increase in price is set to continue; “The rise of 4.3% in the average list price seen in the second quarter of 2017 matches the rise in the first quarter, which was the largest since early 2015.” Lyons says that in Donegal, the average asking price is €145,217, a year-on-year change of 5%.In Donegal, the average asking price for a one bedroom apartment is €47,000, an annual change of 1.9%.A two bed terraced property is on average €64,000 (15.3% annual change).On average, a three bed semi-detached will set you back €93,000 (13.0% annual change), and a four bed bungalow costs €174,000 (3.0% annual change). For a five bed detached house, people can expect to pay €208,000 on average (11.2% annual change).In the Ulster-Connacht region, fewer than half of the properties sell within four months (48%), down slightly from a year ago (54%).Although this region had the fastest house price growth in Ireland in late 2016, at 12%, it now has the slowest (8%). Comparatively, in late 2016 Dublin’s price growth was just 5%, but is now 12%.There were 1,750 transactions in the Ulster-Connacht region in the first quarter of 2017, which is a slight increase from 1,670 in the same period last year – however this is still below the figure for 2015, which saw 1,900 transactions.Just 6,000 properties were on the market in Ulster-Connacht in June. Although this is slightly higher than the 5,700 listed three months previously, it is still far below last year’s number of 6,900. For the first time in two years, inflation in the Dublin area (12.3%) has exceeded the rate elsewhere (11.3%).May 2017 marked the largest number of new listings since 2008, with over 6,000 properties being listed for sale nationwide.Lyons adds; “The principal reason why so few homes are being built is the high cost of construction. Hopefully the new Housing Minister will focus on reducing the hard costs of construction.“This will have beneficial effects for both market and social housing. “Combined with a strategy for using vacant homes, using land better and reform of housing subsidies, it is entirely possible for this country to have a healthy housing system.”Revealed: The average asking price for a property in Donegal was last modified: July 4th, 2017 by Elaine McCalligShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:asking pricesaveragedaft housing reportdonegalpropertylast_img

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