House prices in Donegal increased by 11 per cent in the final quarter of 2023, according to the latest Daft.ie report.
The property website is reporting that the average house price in the county now stands at €219,480.
Prices for homes rose last year, but by the smallest margin since 2019.
The end of year report by Daft.ie shows the average house price nationally in the final quarter of last year was just over €320,000, 14% lower than at the peak of the Celtic Tiger.
The report noted that just 11,100 homes were listed for sale on the Daft.ie website on December 1st – 27% lower than on the same date a year previously and down dramatically on the pre-Covid average of 25,000 homes for sale at any particular time.
The report captured some substantial variations in price movements by region throughout the year and within each of the quarters.
The typical listed price nationwide in the final three months of the year was €320,046, 1.5% lower than in the third quarter and roughly 14% below the Celtic Tiger peak.
Having fallen in the first three months of the year, prices increased again in the second and third quarters, according to the figures compiled by Daft.ie.
The listings website also noted significant differences in price trends across the country.
Prices in Dublin rose by an average of 2% during 2023, while in the rest of Leinster, the increase was 0.8%.
Cork city saw prices rise by 3.7% during the year, while Galway city saw an increase of 4.1%.
Increases in Waterford and Limerick cities were bigger again at 6.1% and 9% respectively.
Outside the cities, prices were 6.8% higher in Munster and 8.3% higher in Connacht-Ulster in the final quarter of 2023 than a year previously.
“Housing prices are stabilising not because supply has increased to meet demand, but instead because demand has fallen to meet it,” Ronan Lyons, Economics Professor at Trinity College, Dublin and author of the reports for Daft.ie said.
“Supply of newly built homes for purchase has certainly increased but the second-hand market, which is the larger share of the market, has been working in the other direction, buffeted by changed economic conditions” he added.
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