Classifieds Advertise Archive Subscriptions Family Announcements Photos Digital Editions/Apps
Connect with us

Business

Auction prices for family homes were ‘way below’ sellers’ expectations

Published

on

Colm O’Donnellan.

New Central Bank requirements for a 20% deposit appear to be having a significant ‘cooling’ effect on residential sales in Galway.

The rule – which does not affect first-time buyers – is one to watch, local auctioneer Colm O’Donnellan said, following a major auction at the weekend.

“There’s no question about it, now that ‘pre-approved’ mortgages have expired and the new rules are in effect, it is having an impact on the market,” he told Tribune Property.

Larger homes – for which there is generally significant demand in Galway City – sold for less than expected.

And first-time buyers were notable by their absence from the auction, which saw more than €3 million worth of residential and commercial properties sold.

However, there was a good turnout at the O’Donnellan & Joyce auction on Friday from cash buyers, although they were “slow to part with their money”.

The biggest residential sale on the day was a four-bed detached property in Knocknacarra, which achieved just under the €500,000 mark.

Mr O’Donnellan said: “It was the buyers’ day, because they were getting incredible value for money. A number of the buyers there were finding that family houses – which normally there’s huge demand for – there was a number of them that went way below expectations.

“Investors were also out, but a lot slower to part with their money than they have been at previous auctions.

“We found a lot of properties being sold just above the AMVs (Advised Minimum Values).

“Some of the sellers are going to be very disappointed, but the buyers will certainly be delighted with this auction.

“The demand for quality family homes remains very high in Galway city and county due to the popularity of the location and the lack of building in recent years. We had some stunning properties in fantastic addresses achieving great prices today,” said Mr O’Donnellan.

19 lots sold at the auction, while negotiations are continuing on five more (which failed to reach their reserve price) which are expected to be completed this week.

Properties close to the city centre included a two-bed apartment at Sáilín in Wellpark close to the G Hotel, which sold for €179,000, while a three-bed terraced house within walking distance of Eyre Square at Bohermore sold for €90,000.

A three-bed end-of-terrace house in Mervue, close to GMIT, sold for €162,000.

Other properties included a four-bed detached house at Westbrook for €375,000; and in the village of Barna, a four/six bed bungalow set in beautiful mature gardens at Forramoyle West, sold for €440,000.

Connacht Tribune

New domain registrations reveal growth of almost 7% over first half of year

Published

on

Figures...David Curtin.

Traditional businesses are embracing their online presence now more than ever in the aftermath of Covid – with Galway companies showing a growth of almost seven per cent in new domain registrations post-pandemic.

That’s according to the latest statistics released by .IE, Ireland’s country domain manager. 

There were 1,236 new .ie domains registered in Galway in the first half of this year, representing growth of 6.6% over pre-pandemic 2019.

That figure accounted for over half of the 2,352 new .ie domains registered in Connacht between January and June 2022, as the database reported 2.6% year-on-year growth, with new registrations returning to pre-pandemic levels.

Identifying with place proved very popular for new .ie registrations in H1 2022. In Galway, the top three keywords in new .ie domain registrations were ‘Galway’, ‘Ireland’ and ‘Irish’.

At the end of June, the total .ie database stood at 332,642 domains.

Limerick recorded the highest percentage growth among the major urban counties (Dublin, Cork, Galway and Waterford) over the first half of 2022 compared to the same period in 2019.

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.

 

 

Continue Reading

Connacht Tribune

Large numbers of younger Irish workers plan to change jobs in next two years

Published

on

Gary Notley...workers reassessing options.

More than half of the co-called Gen Z’s and only slightly less of our millennials plan to leave their current jobs for pastures new in the next two years.

That’s according to a new Deloitte Ireland survey which revealed that 56% of Gen Zs and 40% of millennials plan to leave their current roles in that time.

It also found that 53% of millennials believe the economic situation will worsen in the next twelve months, compared to 36% of Gen Z.

And 55% of Irish millennials cite the cost of living as being their number one greatest concern with one in four of them leaving their organisations in 2022 as a result of burnout.

Gen Z refers to the generation of people born in the late 1990s and early 2000s, while millennials are those reaching young adulthood in the early 21st century.

Overall, the survey found that both cohorts are concerned about an economic downturn – but they desire a better work/life balance and want more flexible working arrangements than they currently have.

The Irish participants were taking part in the Millennial and Gen Z global study of over 45 countries – and they said they are more willing than ever to leave for fresh opportunities.

They are seeking options to provide them with better salary/reward, work life balance, higher flexibility and opportunity offered by employers, and, to a lesser extent, organisations focused on climate change.

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.

Continue Reading

Connacht Tribune

Woodie’s digs deep for heroes

Published

on

Staff at the country’s Woodie’s outlets – including Galway – have just launched their annual fundraiser which has raised a fantastic €2.5 million in last seven years for eleven children’s charities in Ireland.

And as they kick off their annual Woodie’s Heroes campaign, their hope is to have their biggest and best year of fundraising to date so that they can help four heroic Irish charities continue their incredible work.

The campaign – which kicked off last Sunday and runs all the way through to Saturday, August 13 – will support ISPCC Childline, Autism Assistance Dogs Ireland, Down Syndrome Ireland, and Make-A-Wish Ireland.

Each charity has been carefully selected using a colleague vote shared with all 1,600+ Woodie’s colleagues earlier this year.

Over the last seven years, Woodie’s Heroes has already raised €2.5 million for Irish children’s charities – and last year alone, Woodie’s Heroes surpassed its target and raised over €536,000 for children’s charities.

This summer, Woodie’s hope to continue to build on their fundraising efforts, thanks to the generosity of their customers and suppliers, and the support and enthusiasm of Team Woodie’s. Every cent raised goes directly to the four charities and will be divided evenly among them.

It is now easier than ever to donate to Woodie’s Heroes.

You can donate at the till in store by adding €1, €2 or €5 to your bill, or online at woodies.ie – and you can also text to donate €4 to one of the Woodie’s Heroes charities.

Simply text one of the below keywords to 50300 to donate €4.

ISPCC to 50300 to support ISPCC Childline;

AADI to 50300 to support Autism Assistance Dogs Ireland;

DSI to 50300 to support Down Syndrome Ireland;

MYWISH to 50300 to support Make a Wish Ireland.

Each text cost €4, and the charities will receive a minimum of €3.60.

 

 

Continue Reading

Local Ads

Local Ads

Advertisement
Advertisement

Facebook

Advertisement

Trending