The price of the average second-hand three-bed semi in Galway city has risen by 2.5pc to €410,000 this quarter, according to a national survey by REA released today (Monday ).
In County Galway, prices over the past three months have increased by 1.9pc to an average of €320,000, the Q3 REA Average House Price Index shows.
The average time taken to reach sale agreed this quarter was four weeks across the county.
“The market remains strong across the county this quarter, with limited supply at first-time buyer level, however we have seen a slight increase in general supply,” said Kevin Burke of REA McGreal Burke.
“Overall, the market remains very busy, with lots of active buyers.”
The survey shows that this quarter, 60pc of purchasers in the city and 70pc across the county were first-time buyers, while a total of 20pc of sales in the county, and 15pc in Galway city, were attributed to landlords leaving the market.
Additionally, agents in Galway reported that the BER ratings of properties saw A-rated properties command 10pc price increases in comparison to comparable C-rated properties.
The REA Average House Price Index concentrates on the actual sale price of Ireland's typical stock home, the three-bed semi, giving an accurate picture of the second-hand property market in towns and cities countrywide.
The index shows that house price increases in Dublin have slowed to a halt over the past three months.
