Galway House Prices Surge, First-Time Buyers Struggle
Galway News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Galways second-hand three-bedroom semis saw a 0.8% quarterly increase to €398,000, mirroring the countys average rise. The REA survey reveals a steady resale market uptick, driven by more landlords selling and strong buyer demand. First-time buyers accounted for 60% of city sales and 70% countywide, as 15-20% of deals involved exiting rental owners. Energy costs are influencing buyer preferences, with A-rated homes commanding a 10% premium over C-rated ones in the county. Nationally, this gap widened to 13%. Countrywide, three-bed semis sold for €364,747 after a 1.5% quarterly rise and nearly 8% annually. Dublin saw 1.6% growth to €595,453, though first-time buyer shares dipped. These trends suggest ongoing affordability pressure as spring buying intensifies.
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