House prices in County Galway soar by almost 16% in 2021

galway daily news house prices rise in galway

House prices in Galway county rose by almost 16% in 2021 while Galway City saw inflation of just 1.6%, the final housing report of the year has revealed.

The average price of a house in the county rose to €241,335 this year, and in Galway City the average cost of buying home is now €322,543.

The urban-rural divide in Galway was also seen across the State, with prices in Mayo and Donegal increasing by 18.5% and 12.3% respectively despite those in Dublin city centre rising by just 2.4%.

Nationally, property prices rose by 7.7% in 2021 with the average Irish house now costing €290,998.

In Galway city, the average price for a one bedroom apartment rose by 6.8% to €138,000, while a two bed terraced house is €169,000 – down 1%.

A semi-detached home with three bedrooms in the city now averages €255,000 (+4.6%) and a four-bed bungalow is €432,000.

But there were huge increases elsewhere in the county, with one bedroom apartments soaring by over 22% to €86,000. A two-bed terraced now averages €105,000 – up nearly 12%.

People can expect to pay around €149,000 for a three bed semi in Co. Galway – another  massive increase of 23.6% this year, while a bungalow with four rooms averages €287,000 (+14%).

The report revealed that the number of newly built homes that were sold nationally this year was 5,526, while new homes bought in Dublin fell by 18%, while in commuter counties they rose by 36%.