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According to the property price register at the end of August, the number of property sales for both Galway city and county is showing a dramatic increase year on year. The register gives the exact selling price of properties and so is the most accurate record of actual sales that have taken place.
House prices are increasing nationally but continue to fall in Mayo, according to a new report.
Asking prices for houses in Mayo have continued to fall in the second quarter of the year, with the latest survey from property website MyHome.ie showing that the median asking price of a three-bed semi fell another 4.2 per cent to €125,000. This means that the price of a three-bed semi in Mayo has fallen more than 43 per cent from the peak in 2006.
The decline in prices of four bedroom houses in Mayo has stabilised with the latest survey from property website MyHome.ie showing that asking prices for four bedroom houses in the first quarter of 2013 were unchanged at €149,998. This median asking price, however, is still almost 12 per cent lower than a year ago, the MyHome.ie survey reveals.
House prices appear to be stabilising in Westmeath, with the price of a three-bed home rising for the first time since 2007, according to the latest survey from property website MyHome.ie.
There was a drop of 10 per cent in the average price of houses in Galway city by the final quarter of 2012, according to a report by an online property website.
House prices are continuing to fall but the rate of decline is moderating, according to the latest figures from property website MyHome.ie, which reports that asking prices for three bed semi-detached properties nationally remained unchanged in the last quarter, at €185,000.
Asking prices for properties in Connacht fell by an average of 7.2 per cent in the final three months of 2011, compared to a fall of 2.7 per cent between June and September, while the average asking price in Mayo in late 2011 was €164,000, a fall of €102,000 from the peak, according to the latest review by Daft.ie
While temperatures failed to rise noticeably during the summer months property prices in Galway city were climbing gradually with a one per cent rise recorded.
The European Commission’s latest car price report shows that real car prices (price change set against inflation) in Ireland fell by 5.7 per cent in 2010. This is the third biggest drop in the Eurozone and well above the -1.5 per cent Eurozone average.