The sale of Lurgabreack on Horn Head in Dunfanaghy is the largest one-off property transaction recorded in Donegal so far this year.
Data from the Property Price Register, analysed by property website MyHome.ie, shows that the coastal property, which offers uninterrupted views of Killahoey Beach and beyond to the village of Dunfanaghy, sold for €750,000 in July.
There were only three other transactions in the county larger but all were for developments, including 21 homes in Gleann na Greine, Mullindrait, Stranorlar, which sold for €2.4 million in November.
Other large one-off sales included Hillmount Manse on New Line Road in Letterkenny, which sold for €670,000 in May. Drumardagh in Letterkenny, which sold for €390,000 in September, Delta View in Magherabeg, Manorcunningham which sold for €372,500 in July and Forest Hill in Corracramph, Tawnawilly which sold for €365,000 in May.
As of the Property Price Register update of November 28, just over €143.5 million had been spent on property so far this year in Donegal.
There were 1,219 sales recorded as of that date, which still has some way to go to surpass the total number of 1,325 transactions recorded in the county in 2017.
The Managing Director of MyHome.ie, Angela Keegan said uncertainty over the outcome of Brexit negotiations was impacting the market, especially at the upper end.
“That uncertainty is hitting the upper end more I think while the impact of the tightening of the Central Bank lending rules and an increase in stock means house price inflation generally, is slowing around the country. In Q1 asking prices nationally were up 9.5%. By the end of Q3 the rate of inflation had slowed to 5.9% year on year.
“Double or high single digit inflation is not sustainable so the current trend is positive for the property market as a whole.
“I think 2018 will be remembered as the year when the stock of both new builds and second-hand homes turned the corner. Second-hand stock nationally is up 6% while the number of new home schemes continues to rise,” she said.
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