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Asking prices for 3-bed semis in Galway are up almost 25%

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Philip Farrell, Chief Executive of REA

The average asking price of a three-bed semi-detached house in Galway has increased by almost one-quarter since the beginning of the year.

At the moment, the average asking price stands at €220,000 – that’s an increase of more than 22% since the beginning of the year, and 10% over the past three months alone.

According to the Real Estate Alliance ‘Average House Index’ has found, there is strong interest in good quality homes – mostly from cash buyers – but mortgage-buyers are on the increase.

The Real Estate Alliance Average house index concentrates on Ireland’s typical stock home, the three-bed semi, giving a picture of the property market in towns and cities countrywide.

The average price of a three-bed semi is now €179,981 nationally including Dublin, an increase of €26,925 (17.6%) on the December 2013 of €153,056.

Philip Farrell, Chief Executive of REA said: “Prices are continuing to rise apace in Dublin, but our agents are reporting that the panic buying seems have gone out of the market, with less people at viewings and houses taking a week longer on average to sell.

“The three-tier market that REA surveys have identified is still continuing, with the commuter areas outside Dublin, and larger urban areas such as Galway and Cork growing at twice the rate in the first nine months (21.9%) than the rest of the country at 11.5%,” said Mr Farrell.

According to the survey, there has been a sharp rise in the amount of private homes for sale nationally, with the percentage of distressed properties on the market dropping for the first time in the life of the survey.

There is evidence that the banks are financing house buyers to a greater extent with the amount of cash transactions dropping from an average of 66% in December 2013 to 50% in September 2014.

“We are also seeing investors being influenced by the end of December deadline for obtaining Capital Gains Tax relief over the next seven years.

“We also feel that the recent proposals on mortgage finance announced by the Central Bank could have a direct impact on the market from January 2015,” said Mr Farrell.

Connacht Tribune

Wild Atlantic Way creates template for sustainable coastal tourism in Europe

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The spectacular Poll na bPheist on Inis Mór – one of the many unique attractions on the Wild Atlantic Way.

The success of the Wild Atlantic Way will be used as a template for other European regions to look at their potential to capitalise on sustainable coastal tourism.

The west’s success story has been used as a research model to establish best practice for the development of marine and coastal tourism trails in the EU – without having a detrimental effect on local communities or the environment.

The research – which was driven by a team at NUIG with input from the Northern & Western Regional Assembly – forms part of the Moses Project which aims to further the EU’s Blue Growth strategy in five focus maritime areas with the potential to accelerate learning across Europe.

The five maritime areas are aquaculture, marine and coastal tourism, offshore renewable energy, ports and fisheries.

Blue Growth is defined as growth that does not interfere with the marine environment’s long-term ability to continue to deliver ecosystem services.

The Moses Project, which is concluding this year, has eight partners in five countries, comprising a mixture of research centres/universities, regional government and a public body representing marine-based activities.

The project is funded through the innovative EU INTERREG Programme called Atlantic Area.

The research on the 2,500 km Wild Atlantic Way was carried out between 2018 and 2020 by a project team in the Socio-Economic Marine Research Unit (SEMRU) based at NUIG, following a brief review of the marine and coastal tourism management regime in Ireland.

The Northern & Western Regional Assembly (NWRA) was also a partner in the two-year project.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

Roadshow’s nationwide brainstorm

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The Creating Our Future Roadshow on its stopover in Galway city.

Galwegians were offered the chance to play a part in creating a better future for Ireland – by participating in a nationwide brainstorming session last week.

The Creating Our Future Roadshow is midway through its mission to visit every county in Ireland in a month – having started out on September 24 in Wicklow and running until October 26.

It’s a government-led national brainstorm that will involve the people of Ireland in a conversation on the role research can and should play in addressing opportunities, challenges and hopes for the future.

Creating Our Future, according to Minister Simon Harris, will ensure that the direction of research in Ireland is informed by the people it serves.

The organisers are asking people to submit their ideas about what researchers in Ireland should explore to create a better future through the dedicated online portal www.creatingourfuture.ie, which is open until November 30.

The Roadshow is also pulling up in towns across the country to encourage the public to engage in a conversation with researchers over a cup of coffee – and to submit an idea about an opportunity or challenge in their lives, community, Ireland or the world; or something they are curious or passionate about and would like researchers to explore.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

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Connacht Tribune

Deputies outline blueprint for sustained regional recovery

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Pictured: Ministers Michael McGrath and Paschal Donohoe meet with members of the Regional Group of Independent TDs - including local Deputies Sean Canney, Noel Grealish and Denis Naughten.

A group of independent TDs has called on the Government to prioritise spending on rural Ireland – to regenerate regional towns and villages, increase supports to farmers and community initiatives, and the support local business.

The Regional Group of Independent TDs used their Pre-Budget Submission to highlight the ‘critical need to invest in our people to support the transition back to normality’.

The group – which includes local Deputies Sean Canney, Noel Grealish and Denis Naughten – met with budget ministers, Michael McGrath and Paschal Donohoe where members outlined five key points they want to see addressed in next week’s budget.

They are seeking support for the regeneration of towns and villages, housing, green villages, remote working and transport links; investment to help home-grown SMEs through recovery and renewal – and a complete review of tax credits and social welfare systems to ensure working is always financially better.

They also want to see investment in health and community initiatives, and in services within communities, on top of repurposing existing infrastructure – and increased supports for farmers, to aid intergenerational transfers and the agri-food sector.

For more, read this week’s Connacht Tribune.

Connacht Tribune Digital Edition App

Download the Connacht Tribune Digital Edition App to access to Galway’s best-selling newspaper.

Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

Or purchase the Digital Edition for PC, Mac or Laptop from Pagesuite  HERE.

Get the Connacht Tribune Live app
The Connacht Tribune Live app is the home of everything that is happening in Galway City and county. It’s completely FREE and features all the latest news, sport and information on what’s on in your area. Click HERE to download it for iPhone and iPad from Apple’s App Store, or HERE to get the Android Version from Google Play.

 

 

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