Average city house price rises by 13% in 12 months

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Galway Daily news The cost of rent in Galway County increased 5% in 2020

House hunters in Galway will now spend an average of 13% more compared those who bought a home this time last year, a new Daft.ie report has found.

The average price of houses on the market in the city is now €313,360, a slight decrease of 2.5% on the first three months of this year.

But while house prices fell slightly in the city over the past three months, they rose by almost 10% in the county in the second quarter.

The average price of a house in the county is now €201,542 – up 11.8% since June 2020.

There were nearly 2,700 properties on the market in the Connacht – Ulster region on 1 June, down 40% from almost 4,500 on the same date a year ago.

Across the Republic, the average price has risen by 13% (nearly €33,000) over the last 12 months.

Ryan Lyons of Daft.ie said that the country desperately needs tens of thousands of new homes a year ‐ and for decades.

“Rather than cap the construction of new homes, as the government’s new Housing Need & Demand Assessment tool seeks to do, policy must do an about-face and look to boost the building of homes where they are needed,” he said.