Property boom as home workers flock into the west

The shift to remote working as a result of Covid-19 has resulted in a continuing surge of people leaving big cities for a better lifestyle in Galway – with skyrocketing house prices the result as serious pressure comes on the county’s limited supply.

One of Galway’s leading auctioneers, Niall Browne of O’Donnellan and Joyce, told the Connacht Tribune that both former and new Galway residents were on the hunt for property in the city and county as they look to escape cities where the cost of living is higher.

“There are people coming from Dublin and further afield, from places like London, because they can now work from home – one-quarter of our sales in the city are to people from outside of Galway.

“There has been a noticeable increase in demand here in recent months; even in the number of email enquiries from people looking to know what is available here and what might be coming up,” said Mr Browne.

This comes as a survey carried out by the Real Estate Alliance concluded that the cost of housing in Galway City will soar by 8% in 2021, with county prices to go up by 4%.

Mr Browne said that increasing prices in Galway City was driving prospective buyers from all over to towns like Moycullen, Barna, Furbo and Spiddal. Craughwell, Oranmore and Clarinbridge were also becoming enviable locations for those in the market.

“You have a lot of people that were originally from Galway, but moved to Dublin for work and now they’re coming back with their families. Being able to work from home is a big part of that, but they might also have family here that can help with childcare.

“The rent in Dublin is also a big factor. If someone is buying in Craughwell, the mortgage might be €1,000 per month, where they might be paying €1,600 to €1,800 in rent for a small apartment in Dublin – and that mortgage would be for a fine big semi-detached property in Craughwell,” said Mr Browne.

See full story in this week’s Connacht Tribune, on sale in shops now. Or you can download our digital edition from www.connachttribune.ie