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Average Donegal house price now
126,000
04.01.16
THE average price of a
house in Co Donegal now stands at 126,000 - 10%
above its lowest point, according to the latest
Daft.ie survey.
It also shows that prices in the county in the last
quarter of 2015 were 9% higher than a year
previously.
This was almost on a par with the national average
rise of 8.5%, the property website's House Price
Report reveals.
The national average hides "a significant difference
between Dublin, where prices rose by just 2.7%, and
the rest of the country, where the average increase
was 13.1%".
The Irish average asking price in the final quarter
of 2015 was 204,000, compared to 188,000 a year
ago and 164,000 at its lowest point in early 2013,
the report shows.
The property company said the total stock of
properties for sale is now at its lowest point in
nearly nine years, with just over 25,000 properties
for sale nationwide.
A year ago, there were nearly 30,000 properties on
the market while "the bulk of the reduction comes
from outside the five main cities".
The report's author Ronan Lyons said: |
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The dramatic slowdown
in Dublin house prices in 2015 shows how effective
the Central Bank rules have been. This has not been
the case elsewhere in the country as house prices
are lower relative to incomes and thus the new rules
have not been as binding. Some have criticised the
new rules as hindering new housing supply but the
solution to a lack of supply is not stimulating
demand even more. If supply is lacking, the solution
to this must be found in reducing construction
costs, not in giving borrowers access to potentially
dangerous levels of mortgage credit. |
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Ronan Lyons. |
Average list price and
year-on-year change major cities, Q4 2015
Dublin City: 306,613 up 2.7%
Cork City: 227,196 up 20.7%
Galway City: 223,602 up 19.7%
Limerick City: 145,244 up 22.3%
Waterford City: 129,397 up 18.6% |
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