Sales of houses in Galway City up by 25% says report

 In fact, the Government statistics show the boom in sales in Galway was far greater than that in Dublin last year.

An analysis of the Price Register by property website MyHome.ie shows the volume of sales in Galway City rose by 27% from 301 in 2012 to 381 in 2013.

Sales here achieved a combined value of €78.5 million in 2013 – up 31% on the previous year.

In Galway city and county as a whole, there were more than 1,500 sales last year, up 32% on the 1,170 from a year earlier. The total value of sales was €242.5m – up by 25%.

This means that roughly one third of the money spent on property in Galway last year was spent in the city, while one in four properties were bought in the city.

“This means that the market in Galway is growing at almost twice the pace recorded in Dublin, where the number of transactions rose by just 17% last year,” the study says.

Angela Keegan Managing Director of MyHome.ie said that, like Dublin, Galway City is suffering from a shortage of suitable stock.

“It’s clear the property market turned a corner in 2013 and the increase in transactions and in transaction values in both the city and county is most welcome. However we are in the early stages of recovery and the increases are coming off a low base.

“According to local estate agents, most first-time buyers are looking for three- and four-bed semis in the suburbs or within easy commuting distance of the city, areas like Knocknacarra, Salthill and Roscam.”

Meanwhile, more than €3.5m was spent on property at a packed auction in Galway city on Friday afternoon.

Almost 20 properties in the city and just outside were sold at a well attended auction where there seemed to be plenty of money in circulation.

Houses in Salthill made well over the €300,000 mark while a prime residence in Taylor’s Hill was sold for €625,000.

Read more in today’s Connacht Sentinel