BY ENDA CUNNINGHAM
An average family home in Galway County or City now has a price tag of €80,000 or €130,000, according to new research from property website Daft.ie.
In a report published this week, the average asking price of a three-bed semi-detached house in the county is just €81,000, while a similar property in the city is asking €132,000.
The dramatic figures show county homes have dropped in value by up to 70%, while the city has been hit just as badly by the downturn at around 64%.
Three-bed semis are traditionally seen as the ‘staple diet’ of first-time buyers, and are generally taken as an indication of property market performance.
Overall, asking prices – which should be differentiated from eventual selling prices – for houses in County Galway are averaging just over €133,378, after they plummeted by more than 15.2% over the past year.
The average asking price for a home in County Galway now stands at €133,378 – that’s down 58.7% since the peak of the market, while larger homes have been harder-hit with cuts of up to 70%.
And while the drop in Galway City was much lower at 6.6%, prices for a standard three-bed semi are down to one-third of their boom time values.
However, with a five-bed detached property now averaging €166,000, that means the higher-end of the market has been badly hit.
During the boom, many such homes were selling for up to €530,000, which represents a drop of almost 70%.
For a one-bed apartment, the average asking price is now €51,000; for a two-bed terraced it is €54,000; for a three-bed semi it is €81,000 and for a four-bed bungalow, it is €152,000.
The report shows the average asking price for a one-bed apartment in Galway City is now €67,000; for a two-bed terraced it is €83,000; for a four-bed bungalow it is €219,000 and for a five-bed detached, the average is €307,000.
Conversely, the report found that parts of Dublin are seeing a rise in asking prices, of between 2.1% and 12.2%.
Ronan Lyons, economist with Daft.ie said: “It is likely that over the next 12-24 months, we may have to get used to the idea of prices rising in some places – particularly urban areas – while they
For more, read this week’s Connacht Tribune.
€900,000 for great outdoors
Government funding of almost €435,250 has been approved for the upgrade of the Western Way Trail – one of four Galway projects to share funding of €929,200 under the Outdoor Recreation Infrastructure Scheme this week.
Local Minister for State at the Department of Transport, Hildegarde Naughton, said this vital investment is needed to ensure that the trail capitalises on the natural and historic beauty of the setting, and would prove extremely popular for visitors on the Wild Atlantic Way.
“This route has proved very popular for local and tourists alike with its natural beauty well-known to most people from the area,” the Galway TD said.
“This investment will result in significant improvements and will ensure that this wonderful facility is made accessible to an even greater number of people,” Minister Naughton noted.
“There has been large growth in the recreational tourism sector, and an increasing number of visitors to Ireland are particularly interested in walking, cycling and exploring natural settings and activities” the Minister said.
The scheme, which finances the development and maintenance of outdoor amenities such as greenways and walking trails, also sees The Walks in Loughrea receive €200,000 to upgrade the present route, with an additional €200,000 allocated to develop the Creggs Mountain walk, an element of the Beara – Breifne & Suck Valley Way.
And the Killarainy Woods trail in Moycullen, is being allocated €103,950 to enhance the route.
“The Outdoor Recreation Infrastructure Scheme contributes to the Governments objective of strengthening rural economies,” said Minister Naughton.
“The objective of the Scheme is to provide funding for the development of new outdoor recreational infrastructure and for the necessary repair, enhancement or promotion of existing outdoor recreation infrastructure in rural Ireland,” added the Minister.
Galway medtech firm awarded €3.6m to develop revolutionary stroke treatment
A Galway medical device company is working with a consortium to help develop disruptive technology in the treatment of stroke – after it was awarded awarded €3.6m in funding.
Ceroflo is partnered on the project with manufacturing firm Advant Medical and the Medical and Engineering Technologies (MET) Centre at Atlantic Technological University (ATU).
Cereflo secured the funding on foot of its development of a revolutionary new type of stent technology that promises to be vastly more effective than existing treatments to treat Intracranial Atherosclerotic Disease (ICAD), a leading cause of stroke.
Up to 50% of strokes are caused by a build-up of plaque in an artery in the brain known as Intra-Cranial Atherosclerotic Disease (ICAD).
Pharmaceutical therapies aimed at reducing the stroke rate are currently deemed the most effective form of treatment for the condition but more than 20% of patients with significant ICAD still suffer recurring stroke within twelve months.
Technological solutions have so far proved sub-optimal, leaving this large population of patients with the ongoing risk of devastating strokes.
The Ceroflo SubMax Stent represents a game-changer in the treatment of ICAD as its shape and structure has been developed to suit the unique challenges of this disease.
For more, read this week’s Connacht Tribune.
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Galway Science and Technology Festival’s breaks new record
More than 22,000 people attended last Sunday’s Galway Science and Technology Festival exhibition in the University of Galway – breaking all previous records.
Celebrating 25 years of STEM Education, the exhibition was the opening event for the two week annual Galway Science and Technology Festival, which is the largest event of its kind in Europe. It showcases Galway as the MedTech capital of Europe and a growing IT Hub, bringing science and technology to over 35,000 students in schools across Galway city and county. This year there will be over 200 STEM demonstrations, shows and workshops in 140 primary schools and 40 post-primary schools.
The exhibition was a hive of activity with 25 shows and hands-on workshops and over 80 demonstrations and interactive exhibitions created by sponsor companies and agencies, universities and schools. Families enjoyed 3D astronomy shows and learned how to extract DNA from a banana , saw parasites in VR, drove Valeos self-driving car using a mobile phone, visited the Teddy Bear hospital and the ever popular Doctor Bug introduced tarantulas, snakes and lizards to very excited children and much, much more. Medtronic’s Junior Hospital team engaged with families at their fantastic interactive series of stands in the Human Biology Building. Sue McGrath entertained with the Devastatingly Dramatic Climate Show and new to the Festival is Braintastic with their Non-Sense show exploring our senses.
The 2022 Galway Science & Technology Person of the Year Award was presented to Dr Enda O’Connell, Senior Technical Officer at University of Galway and Founding Director of ReelLIFE Science, a science video competition for schools and youth organisations in Ireland and N. Ireland, celebrating its tenth year, the competition encourages young people to engage with STEM, while developing their creativity and communication skills.
To mark the 25th year of the Festival, a special presentation was made to the Treacy Family in commemoration of the late Noel Treacy, Founding Patron of the Galway Science & Technology Festival. Mr Treacy continued to be a strong advocate for the Festival over the 25 years and his presence was greatly missed this year.
Anne Murray, Festival Manager said: “We were delighted to be back on campus at the University of Galway to celebrate and learn about the world around us. The attendance on the day reflected the value that families and the public place on this unique event and we were so glad to be able to honour the memory of the late Noel Treacy who always said it started with an idea”.