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Donegal bucks trend with drop in
house prices
07.10.14
DONEGAL is bucking the
national trend of rising house values with prices in
the county down 2 per cent in the third quarter of
this year.
The fall is in contrast with an average 8 per cent
rise in property prices outside of Dublin.
The average Donegal house price now stands at
€116,000, 57 per cent below peak levels and €79,000
lower than the national average of €195,000.
Latest figures from Daft.ie show that the average
asking price for a house in Ireland has risen by 14
per cent over the past year.
The figure was boosted by a rise of about 25 per
cent in Dublin.
There were also significant double-digit increases
recorded in all of Dublin’s surrounding counties;
Louth 14 per cent; Meath 15 per cent; Kildare 19 per
cent and Wicklow 20 per cent. Cork and Galway cities
also saw price rises. |
Daft.ie economist Ronan
Lyons said: “The total number of properties on the
market on October 1, was just over 30,000, the
lowest figure since March 2007.
"Across Leinster and in Dublin in particular, supply
shortages remain and this has helped push up values
by a third in Dublin in just two years.
"The concern is that this supply shortage is now
feeding into expectations. While price rises driven
by shortages can be stopped by increasing supply,
tackling price rises driven by expectations is
significantly trickier," he added. |
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Ronan Lyons. |
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