Small fall in house prices

Property prices in Galway have bucked the national trend by falling during the quarter, according to the latest MyHome.ie Property Report.

The report for Q4 2021, in association with Davy, shows that the median asking price for a property in the county fell slightly by €25,000 over the quarter to €259,975. However, this still means prices have increased by €9,975 compared with this time last year.

Asking prices for a three-bed semi-detached house in the county rose by €6,000 over the quarter to €245,000. This means that prices in the segment have risen by €10,000 compared to this time last year.

Meanwhile, the asking price for a four-bed semi-detached house in Galway stayed steady over the quarter at €285,000. This represents a year-on-year decrease of €3,000 in the segment.

There were 797 properties for sale in Galway at the end of Q4 2021 – a decrease of 15% over the quarter.

The average time for a property to go sale agreed in the county after being placed up for sale now stands at just over four months. In the city, it is just over two months.

The author of the report, Conall MacCoille, Chief Economist at Davy, said that, nationally, the findings of the report painted a grim picture for prospective homebuyers.

For more, read this week’s Connacht Tribune.

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