Galway Bay FM

15 August 2024

~1 minutes read

€8K affordability gap for first time buyers on good income in Galway

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€8K affordability gap for first time buyers on good income in Galway

A couple on a good income are still almost 8 thousand euro short when trying to buy a three-bedroom home in Galway.

A new report from the Society of Chartered Surveyors Ireland shows that the average earning of a nurse and a garda is not enough to buy an average home in Galway and four other counties outside of Dublin.

Estate agents are reporting low stock levels and say they expect property prices to increase by an average of 4.5 per cent over the next 12 months.

Vice President of the SCSI Gerard O’Toole explains the affordability scenario they carried out to highlight the problem:

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