The average price of a home in Galway city has soared 12.2 per cent to €403,000 according to the latest figures from Daft.ie, while a County Galway home will set you back €285,000, up almost two per cent.
Nationally, house prices have increased by 6.7 per cent over the last three months, meaning Galway city is seeing price inflation almost double the national average over only one quarter.
Leitrim has the lowest average house price at €199,000, with South County Dublin at top spot on €695,000.
All categories of homes in Galway city have seen substantial price rises, with a three-bed semi-detached house now averaging €258,000, up 11.9 per cent. A four-bed detached home within the city limits will set a buyer back €428,000, up 7.5 per cent, while a five-bedroom house average sale price is €533,000, up a shocking 25.3 per cent in just one quarter.
Combined figures for city and county see increases across all categories, although one-bed apartments are down almost 4 per cent to €98,000, and a four-bed bungalow is down 2.4 per cent to €323,000.
Reacting to the latest figures, Sinn Féin’s Mairéad Farrell says young Galway couples are being priced put of the city.
“In the last number of years many young couples have had to move further away from family and their communities in order to be able to access housing. This has knock-on effects in terms of care within the family as well as moving away from supports from neighbours, friends and a wider community,” she said.
“We need affordable housing delivered in Galway. In Galway we have been talking about building affordable housing since my time on the Council in 2019 and since then the delivery date has been pushed out again and again. Currently we don’t expect to see any affordable houses built in Galway until the second half of 2025. However, these houses will be cost rental and not affordable purchase. Affordable housing must be a priority so that people can buy, stay and live in our city.”
Separate figures last month show there are almost 20 times more short-let properties available on AirBnB in Galway than longer leases advertised on Daft.ie
Figures released to Galway city councillor Níall McNelis (Lab ) earlier this year showed that 13,351 individuals, including over 4,000 children, were currently accessing emergency accommodation across the city.
