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Budget must set path to stable housing market

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Pat Davitt of IPAV calls on government to introduce budgetary measures to tackle housing shortage

The National Housing Statement marks an important contribution to the debate on the future of housing in Ireland, according to the Institute of Professional Auctioneers and Valuers.

However, Pat Davitt Chief Executive of IPAV – which represents almost 1,000 auctioneers and valuers – said rapid tackling of the impediments to growth in housing supply is essential.

“While the statement highlights the big and unsurprising problem of the divergence between supply and demand, its real value rests in that it brings together in one report a more wholesome picture by including trends in the market such as the increase in smaller households and the corresponding decrease in larger households, population projections and the acknowledgement that mortgage arrears and negative equity are issues that remain to be addressed.

“All of these elements impact, not just the economic life of the country but have serious social impacts since housing is a basic human need.

“It is in the interest of all that we reach a sustainable housing market, not one that is subject to the volatility we’ve seen since 2007,” he said.

However, Mr Davitt said the Housing Agency Statement needed a balancing position where it notes that the Eurostat European House Price Index showed a 15% annual increase in Irish residential property prices in the period 2013-2014, more than six times the EU average of 2.4%.

“To fully inform people, this part of the statement should have acknowledged that Irish property prices had suffered a far more severe drop since 2007 than any of its European counterparts,” he said.

Mr Davitt also said that as a country, Irish people must learn the lessons of the property crash. “We have an opportunity now to address the historical deficit of lack of implementation, albeit eight years after the beginning of the property crash.

“Building a sustainable property market is now in the hands of the Government and Budget 2016 represents a real opportunity to address many of the pervasive problems in a cohesive way, especially now that the economy is growing.

“The issue of building costs was not one requiring extra State funding or a loss to the Exchequer. In a market where properties are still available for sale at less than the cost of building, it is a no-brainer that tackling the issue will improve the public purse,” said Mr Davitt.

Connacht Tribune

Large selection of homes to go under the hammer

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The Cúirt na Rásaí development in Ballybrit where a two-bed apartment is for sale. AMV €125,000

More than 50 properties are set to go under the hammer at an O’Donnellan & Joyce auction this Friday.

The agents have reported a very strong turnout at open viewings over the past four weeks.

For those who cannot make it to the auction in person, a live stream is offered through odonnjoyce.com, while phone bidding and proxy bidding services are also available if registered in advance.

The latest service offering by the local auction house comes in the form of an internet bidding service. Purchasers can place bids on their phone, tablet or computer from anywhere in the world.

Among the properties going under the hammer are:

45 Upper Newcastle, Galway. A unique property located within a stone’s throw of the School of Economics at NUIG and a short walk from University Hospital Galway. It needs modernisation and according to the selling agents, it would prove to be a great investment property due to its location. The Advised Minimum Value is €265,000.

84 Tur Uisce, Doughiska, Galway. A one-bed ground floor apartment situated just off the main Doughiska Road and within close proximity to industrial estates, Galway Clinic and the Briarhill shopping centre. This is a modern apartment complex on the east side of Galway City where there is good demand for investment properties. The property is currently tenanted at €900 per month and is being sold with tenants in situ. The AMV is €120,000.

33 The Grove, Gort. A spacious 2-bed first floor apartment in a mixed-use development with ground floor commercial units. The AMV is €80,000.

St Brendan’s, Ballygar. A 4-bed detached property located 4.9km from Ballygar village and 13km from Athleague, Co Roscommon. The property stands on its own site and also contains lands across the road with 1.03 acres. The AMV is €60,000.

6 Tirellan Heights, Headford Road, Galway. A 3-bed semi in a popular residential area. The AMV is €195,000

5 Tirellan Heights. A 3-bed semi with tenants in place at a rent of €800 per month. The AMV is €180,000.

307 Tirellan Heights. A 3-bed dormer bungalow. The AMV is €185,000.

Alloon Upper, Ballymacward, Ballinasloe. A 2-bed bungalow in a rural setting within walking distance of Alloon and Ballymacward and 10km from New Inn. The AMV is €75,000.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

Development of high-spec homes launched in Furbo

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Gleann na bhFear in Furbo.

Galway Real Estate and Noel P Regan Developments have launched Gleann na bhFear, a development of 14 detached four-bed houses located in Furbo.

High specification finishes include triple-glazed energy efficient doors and window systems and integrated air-to-water heat source with underfloor heating to both ground and first floors.

There are pressurised water systems, with integrated shower systems and HRV (Heat Recovery Ventilation) systems to the whole house.

The properties also have a high electrical and plumbing specification throughout and there are generous allowances for kitchens, wood flooring and tiling. There are paved patio areas and tarmacadam driveways and stone front boundary walls.

Selling agent Paddy Flynn said the location is hard to beat with a school, church, shop, hotel, filling station, beach and restaurant all within a 7/8 minute walk, while Barna and Galway Golf Clubs are less than a ten minute drive.

“A lot of care and thought was given to this site layout. It is a very private and sheltered site with its own sewage treatment plant. The land levels west of the site are a great asset keeping away the south-westerly winds.

“There are three house types on offer: Type A is 2,140 sq ft; Type B is 2,064 sq ft and Type C is 2,457 sq ft .

Prices range from €590,000 to €620,000. For further information, contact Paddy Flynn of Galway Real Estate on 087 2557618 or Derek Niland on 087 2457138.

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Connacht Tribune

Launch of 14 new high spec homes at Furbo this weekend

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An architect drawing of the proposed Gleann na bhFear development

Galway Real Estate and Noel P. Regan Developments Ltd are having a launch and information day for the very attractive new “Gleann na bhFear” development at the Connemara Coast Hotel this coming Saturday, October 26th from 10.00 a.m. – 2.00 p.m.

Gleann na bhFear is located north of the village of Furbo Church. It is a development of 14 detached houses on generous site areas for each dwelling.

High specification finishes of insulation, triple glazed energy efficient external doors and window systems in grey. The is also a designed integrated air to water heat source with underfloor heating to both ground and first floors. Also included are pressurised water systems with integrated shower systems.

HRV ventilation systems to whole house with high specification electrical and plumbing throughout.

Generous allowances are also included for kitchen, wood floor and tiling.

Paved patio area and tarmacadam driveways with stone front boundary walls are a feature of the development.

A location hard to beat with school, church, shop, hotel, filling station, beach and restaurant within a 7/8 minute walk and Barna and Galway Golf Club is less than a ten minute drive.

A lot of care and thought was given to this site layout. It is a very private and sheltered site with its own sewage treatment plant. The land levels west of the site are a great asset keeping away the south westerly winds.

There are 3 house types on offer, Type A: 2140 sq. ft. Type B: 2064 sq. ft. and Type C: 2457 sq. ft.

All interested parties are welcome to come along to the Connemara Coast Hotel this coming Saturday October 26th and find out all about the houses. A site visit on the same day can be organised or another time if Saturday is not suitable. Prices range from €590,000 to €620,000.

For further information contact Paddy Flynn 087 2557618 or Derek Niland 087 2457138 or Galway Real Estate 091 565488 or email: info@galwayrealestate.ie

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