House prices continue to rise in the north west

House prices have risen by over 10% across the north west in the last year.

That’s according to the latest Quarterly Report on national house prices.

The average price of a home in Donegal has risen by 11% now costing €170,716.

The price has gone up by 12.2% in Sligo where it now costs an average of €167,779 to purchase a house in the county while Leitrim has risen by 20.5% in the last year to €154,196; the average cost nationally is €287,704.

The latest report also found that the number of properties on the market in the region was down 36% compared to September 1st, 2020 going from just over 4,450 to 2,800.

The number of new homes being bought fell in Sligo by 39% compared to a year ago with 11 transactions, they fell by 75% in Leitrim with just 3 purchases and they were down 37% in Donegal with 17.

Ballymote Auctioneer, Eamon Scanlon says prices have increased, but not at the same rate as seen previously.

He says part of the reason for this is due to the limited number of new homes being built, especially in more rural areas and isn’t convinced the government’s Housing for All Plan will help.