Property prices in the west expected to increase further

From the Galway Bay FM newsroom:

There is bad news for those hoping to get on the property ladder in the west of Ireland .

Property prices are predicted to rise by a further 5% this year, while the rise in Connacht/Ulster will be higher at 7%.

That’s according to Annual Residential Property outlook for 2022 from the Society of Chartered Surveyors Ireland.

It believes the double-digit inflation experienced last year is not sustainable.

The President of the SCSI, TJ Cronin said the cost of rent will also increase by up to 5 per cent.