Average house price in Donegal now €141,000

 

In the latest Daft.ie House Price report it has been revealed that prices are now falling in some parts of the country.

Ronan Lyons, economist at Trinity College Dublin and author of the Daft.ie Report, said there is likely to be debate as to whether the falls are caused by weakening demand, in particular due to Brexit, or strengthening supply.

In Donegal, prices in the third quarter of 2019 were 2% lower than a year previously, compared to a fall of 1% seen a year ago. The average house price is now €141,000, 47% below peak levels.

Housing prices in the third quarter of 2019 were just 0.1% higher than a year previously, effectively marking the end of six years of rising housing prices, according to the latest Daft.ie Sales Report.

The average price nationwide in the third quarter of the year was €257,000, down just over €4,000 on the second quarter of the year. Compared to its lowest point in 2013, the average price nationwide is now 57% higher.

With prices also falling in some areas most exposed to Brexit, in particular Border regions, a disorderly Brexit could change this story in months to come.