|
|
House prices rise by 4% in Donegal
04.01.19
ACCORDING to the latest
report released by the property website, daft.ie,
Donegal house prices in the final quarter of 2018
were 4% higher than a year previously, compared to a
fall of 2% seen a year ago. The average house price
is now 144,000, 26% above its lowest point.
Housing prices nationally rose by 5.5% during 2018
but the average price nationwide in the final
quarter of the year was 254,000, down 1.1% on the
figure for the third quarter. The annual increase of
5.5% (241,000 was the average asking price for Q4
2017) or just over 1,000 a month, was significantly
smaller than increases of between 8% and 9% seen in
2015, 2016 and 2017 and marks the lowest year-end
inflation rate since prices bottomed out in 2013.
Commenting on the figures, Ronan Lyons, economist at
Trinity College Dublin and author of the Daft.ie
Report, said: During the 2000s bubble and crash,
the laws of supply and demand were secondary in the
housing market to credit market shocks. Not least
because of the Central Banks mortgage rules, the
market this decade has returned to the more
fundamental drivers of supply and demand. Since
2013, demand has been strong but supply weak. The
increase in homes being built especially estate
houses in the last 18 months, though, has helped
cool down inflation, in particular in the Greater
Dublin area, where construction activity is focused.
The hope for the housing system is that the building
of new homes continues to increase, and to spread to
other urban areas.
Average list price and year-on-year change in major
cities, Q4 2018: |
- Dublin City:
370,472 up 2.9%
- Cork City:
275,703 up 5.8%
- Galway City:
290,528 up 6.3%
- Limerick City:
194,214 up 9.8%
- Waterford City:
174,879 up 8.6%
|
|
