House prices in the North West could increase by up to 10% in the next twelve months

House prices in the North West could increase by between eight to ten percent in the next twelve months.

That’s the belief of economist Ronan Lyons, the author of today’s report.

The report states that Donegal is now the most expensive county in the region in which to buy a house. The average price of a home in the region now stands at €166,000.

County Donegal saw a rise of five percent in the average price of a home, setting buyers back an average of €145,000. This represents a five percent increase from the second quarter of 2016.

The average price of a house in County Sligo now stands at €134,000. 14 percent higher than a year previous. The highest rise in the region.

While in County Leitrim, prices have soared by 45 percent from their lowest point with the mean price of a home coming in at €124,000. A five percent increase from this time last year.

The national average price during the second quarter of the year was €240,000, 12% higher than a year previously.

Mr Lyons, who is an economist at Trinity College Dublin says the price of houses in the region could potentially rise further given the demand.