Prices for three-bed semi-detached homes in Galway city and county are expected to rise by five per cent over the next 12 months.
The figures come from the Real Estate Alliance Average House Price Index, which found that three-bed semi-detached homes in Galway city cost an average of €302,000 - up four per cent on the December 2020 average of €290,000.
At the end of 2021, prices in the county had risen by five per cent to €178,000, from €170,000 in December 2020.
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The survey concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an up-to-date picture of the second-hand property market in towns and cities countrywide.
Landlords exiting the market have accounted for almost one in four home sales over the past three months, the data shows.
Average house prices rose by 2.24 per cent across the State during the last three months of 2021, half the rise experienced between June and September as demand eased and the market calmed.
The average price of a three-bedroomed semi-detached house in the State rose by €5,900 over the past three months to €269,963 – representing an annual increase of 13 per cent.
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Selling prices rose in commuter areas (3.34 per cent ) and in large towns (2.57 per cent ) as buyers continue to move out further from the capital in anticipation of long-term remote and hybrid working situations.
The commuter area increases are triple those in Ireland’s major cities, with Dublin increasing by one per cent, and Cork, Limerick, and Galway by an average of 0.8 per cent as agents reported a quieter quarter.
Cork, Limerick, Galway and Waterford cities shared a combined increase of 0.8 per cent in the past 12 weeks with the average three bed semi now costing €283,000. While Cork (€335,000 ), Galway (€302,000 ) and Waterford (€250,000 ) were relatively static, prices in Limerick rose by 2.1 per cent to €245,000.
