House prices in Galway city have risen by 12.6 per cent since 2020, with the average price now €316,360, according to a new report released by Daft.ie
In the county, there was an increase of 11.8 per cent from last year, with average prices now at €224,571. The Daft Report also highlighted significantly low levels of supply, with the amount of properties available in the West of Ireland down 40 per cent from last year.
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Meanwhile, a survey by Real Estate Alliance found that house prices in Galway, Cork, Limerick, and Waterford cities shared a combined increase of 3.5 per cent in the past 12 weeks, with prices rising by €10,000 to an average of €275,000.
Reacting to the report, Social Democrats Galway City East councillor, Owen Hanley said, the housing crisis has “deteriorated further” under the current Government and there is “a very human cost” to this situation.
“Access to housing is fundamental to building long-term lives within communities,” he said. “Right now, the struggle for far too many is heartbreaking. We cannot accept the housing crisis being viewed as yet another unsolvable emergency. Homeownership is not an unrealistic expectation for the workers of this country.”
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Cllr Hanley said the Government must institute policies that will allow and encourage local authorities to build public housing on public land, including a rapid upscale in the number of affordable housing schemes.
“Positive plans like those currently being developed in the Ballybane area are desperately needed on a wide-scale,” he said. “The free for-all-for in the residential sector for international funds competing with families must end.”
