House prices in the north west counties of Donegal, Sligo and Leitrim are among those that have increased most in the past year.
It’s as Covid-19 resulted in more people returning home from abroad, many with cash and ready to buy.
In addition, many people who were renting in the expensive Dublin area returned home to work remotely.
According to the Irish Independent house price survey, the average price of a house in Donegal has increased in the past year by 9% to €261,000, by 6% in Sligo to €175,000 and by 4% in Leitrim to €280,000.
A 6% increase is forecast for Leitrim this year, a 4% increase for Sligo and 5% increase in Donegal.
The survey noted that while property prices vary not only between north and south Donegal, there are also big fluctations within each region.
While the south of the county reported an average increase of just 1% on this time last year, two-bed cottages and terraces in the area plummeted by 18% to €75,000 and €80,000 respectively.
However, two-bed apartments in town and on the coast jumped in value by 10%.
At the northern end of the county, prices jumped by an average of 12% and are predicted to go up by 7% this year.
In Leitrim, some property types, such as the 3-bed semi, saw their values remain unchanged while the 4-bed bungalow outside town risen substantially in value.
However, Leitrim remains one of the country’s most affordable counties to buy property.
In Sligo, demand was described as ‘phenomenal’.
For example, all but three of the 31 first phase of houses in the Farmhill Manor development outside Sligo town have been sold, with next month’s second phase expected to sell just as quickly.
By contrast, there was no change in average house prices in most parts of Dublin, with them dropping by 7% in the Dublin 12 area.
Full details of the property survey can be found on www.independent.ie/houseprices
