REA says Donegal 3 Bedroom Semi prices are stabilising after 3.5% rise

 

reabanner

The price of an average three bedroom semi detached house in Co Donegal has risen by 3.45% to €75,000 in the first three months of 2015, with an overall rise of 5.63% in the past six months.

That's according to a national survey carried out by Real Estate Alliance.

It now takes seven weeks to sell the average house in the area around Bundoran, compared to 12 weeks in September 2014, where the rise in sterling has been a contributory factor in a 7.69% rise in prices in the first three months of the year.

REA Mc Elhinney's Bundoran office says the affordable end of the market is extremely busy with strong demand for homes priced up to €100,000.

The company's Milford office also reports strong interest in three bed semis, with anaverage price at €80,000. They say while supply has eased up, there is still a steady stream and demand has kept pace.

As a result, they say prices are stabilising rather than rising, although over the course of the year there may be a slight increase.

Nationally, REA says there is a lack of supply of three-bedroom family homes because it is still not financially viable in many areas for builders to construct homes and make a profit.