Donegal house prices increase 3% in three months, survey shows

The price of the average second-hand three-bed semi in county Donegal has increased to €170,000, up 3% in the last three months.

That figure has risen from €165,000, according to a national survey by Real Estate Alliance.

Across the county, the average time taken to sell is currently four weeks, the Q3 REA Average House Price Index shows.

There is strong demand from Northern Ireland purchasers for both permanent residences and holiday homes in Donegal, according to Roger McCarrick of REA McCarrick and Sons, Bundoran, where prices have increased by 2.7pc to €190,000 in the past quarter.

Prices in Milford this period rose to €150,000, up 3.5%.

“Demand is currently strong, and supply is as low as it has been for some time,” said Paul McElhinney of REA McElhinney, Milford.

The survey shows that across the county, 30% of purchasers were first-time buyers and 18% of purchasers were from outside of the county. 

A total of 30p%of sales in the county this quarter were attributed to landlords leaving the market.

The REA Average House Price Index concentrates on the sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.

The actual selling price of a three-bed, semi-detached house across the country rose by 2.7% in the past three months to €323,741.

Time taken to reach sale agreed nationally has dropped to four weeks as low supply continues to drive sales.