GALWAY HOUSE PRICES DROP BY HALF SINCE PEAK

Date Published: 03-Jan-2012

Property prices in Galway city have fallen by half since their peak according to two separate surveys by property websites.

According to a survey by myhome.ie, asking prices for homes in Galway city fell by 10 percent in 2011 and by 50 percent since their peak in 2008.

In the county, the price of a 3-bedroom semi-detached house fell by almost 2 percent in the last quarter to 195 thousand euro.

Meanwhile, a review of the full year was carried out by property website daft.ie.

It found that between September and December the biggest drop in house prices was in Galway city, with a discount of over 14 percent.