House prices showing signs of recovery

Date Published: 11-Apr-2008

Property prices in Galway have started to stabilise, with asking prices in the city up slightly over the past few months, according to new research.

The new report from the country’s biggest property website, Daft.ie shows that since the end of 2007, asking prices for residential properties in County Galway have dropped by 1.1%.

However, it also shows that asking prices in the city have risen by 1.2% during the first quarter of this year. A previous Daft.ie report found that asking prices in the city plummeted by almost 11% during 2007, although this figure was described as ‘distorted’ and ‘surprising’ by local estate agents.

“Asking prices dropped towards the end of last year, there’s no doubt about that, and you will still see drops in different areas around the county. But other parts of the city and county have stabilised since then [the end of 2007]. Over the past six or eight weeks,we are finding a lot more buyers out there, and there’s a definite increase in viewings.

“Where buyers were sitting on the fence, they are actually willing to purchase now, because there’s good value and plenty of choice out there. Properties are selling, and there is a lot of ………..