The last three months has seen of house prices in Donegal by 5.6%, but it still remains one of the cheapest place to buy a home in Ireland, according to a new survey.
According to the latest Real Estate Alliance Average House Price Survey that despite the absence of sterling buyers because of Brexit and the exchange rate, prices in some parts of county Donegal have risen by an average of €6,250 since June, fuelled by an acute lack of supply of suitable properties.
This lack of supply has seen prices in Bundoran rise by €10,000 or 11% in the last quarter, they state
However, Donegal (€93,750) is still among the only three counties, Longford (€90,000) and Leitrim (€97,000), where properties can be still be purchased for a five-figure sum.
“Brexit and the resulting exchange rate has reduced the number of sales to sterling-based clients. What is more, we see this situation continuing for the foreseeable future,” said Michael McElhinney from REA McElhinney in Bundoran.
In Milford, there is good demand for three-bad family home, but the lack of supply is still an issue, according to Paul McElhinney from REA McElhinney in the town.
The average semi-detached house nationally now costs €221,843, the Q3 REA Average House Price Survey has found – a rise of 3.1% on the Q2 figure of €215,269.
Overall, the average house price across the country has risen by 11.2% over the past 12 months – just under twice the 6% increase registered to the full year to September 2016.
If you have a story or want to send a photo or video to us please contact the Donegal Live editorial team any time. To contact Donegal Democrat and Donegal People's Press, email email@example.com To contact Donegal Post, email firstname.lastname@example.org To contact Inish Times, email email@example.com.
Subscribe or register today to discover more from DonegalLive.ie
Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.
Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.