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Galway auctioneer reports busiest year of sales ever

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Furbo. SOLD €485,000

A Galway auctioneering firm has reported its busiest ever year for sales – with nearly 600 sales in 2015.

The huge increase in sales volumes has been attributed to banks beginning to lend again, while there was also a return of investors to the market.

O’Donnellan & Joyce also saw a significant 20% surge in the number of properties going for auction.

According to Colm O’Donnellan, it was his busiest year since he opened his office in 1982, although prices are around 35% below their Celtic Tiger peak.

“The reason for the increase in volume of sales is banks have returned to lending particularly to first time buyers and to home owners.

“Although prices are still about 35% below the peak of the Celtic Tiger period, the number of transactions recorded for 2015 are well in excess of anything recorded during that period.

“In addition, 2015 saw a large number of cash buyers looking to invest in property, as no returns have been offered by banks for money on deposit.

“Investors were looking to acquire prime properties with good rental income such as properties throughout Galway City as there is an extremely strong demand for residential properties for rent,” said Mr O’Donnellan.

Auction co-ordinator Anne Harding said there was a 20% increase in volume of properties going under the auction hammer.

“Our auctions now cover from Donegal to Kerry and are known as the Wild Atlantic Way auctions, and in 2015 we placed 280 properties under the hammer with an 86% success rate,” she said.

The agents held seven auctions throughout the year, which was also live streamed on the web.

“The stream attracted a large number of overseas buyers, young Irish immigrants who bought their first home. 2015 also saw an enormous disparity in values with Galway City in the dominant market with increases of approximately 19.7%.

“Outside Galway City in the rural areas, there was exceptional value on offer with many of the properties sold way below building costs,” said Mr O’Donnellan.

Among the highlights of the auction were:

  • Detached Residence in Furbo sold for €485,000.
  • Mid-terraced house at Presentation Road, Galway sold for €404,000
  • 4-bedroom semi at Forster Court, Galway sold for €335,000
  • Detached house at Beach Cottage, Ballyconneely sold for €328,000
  • Detached bungalow at Lakeshore Drive, Renmore sold for €300,000
  • Semi-detached property at Glenard Crescent, Salthill sold for €472,000
  • Semi-detached residence at Dalton Drive, Salthill sold for €470,000
  • Apartment block in Spiddal sold for €1,005,000.

“Outside Galway, exceptional value was on offer for properties in the Kilconly and Tuam areas. A two-bedroom apartment in Castlerea was sold for €20,000,” said Mr O’Donnellan.

Niall Browne, Head of Private Treaty Sales, recorded the largest sale of residential homes in Galway City, where a property in Salthill was sold for well in excess of €1.5 million.  There were ten bidders interested in the property.

Among the other private treaty sales were:

  • Detached residence at Kiltrogue, Cregmore sold for €315,000
  • Detached house at The Parklands, Clarinbridge sold for €515,000
  • Bungalow at Coolagh Road, Menlo, sold for €480,000
  • 2-bed apartment at Ocean Towers, Salthill, sold for €407,500

For more, read this week’s Connacht Tribune.

Connacht Tribune

Family-friendly location just a stroll to the beach

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Family friendly location: 26 Tearmann Eala (red door) in Renmore.

This large semi-detached residence in the popular Tearmann Eala estate in Renmore has come to the market with an asking price of €395,000.

Number 26 is a well-presented four-bed property with very generous living space spread out over two floors.

The ground floor comprises a wide entrance hall with under stairs toilet, a large living room with open fireplace and to the rear, the kitchen/dining room and utility both with access to the back garden.

Upstairs are four double bedrooms all with built-in wardrobes and the master is en suite. Completing the upstairs is the main bathroom.

Externally, there is off-street parking to the front and a well-kept rear garden.

Selling agent Kyle O’Brien said: “Tearmann Eala is a quiet cul de sac development in Renmore. It is a perfect family friendly development and is well serviced by local amenities and services nearby.

“Ballyloughane Beach is only a short stroll away and not to mention all the communal green areas and facilities such as Galwegians Rugby Club and the Kingfisher Leisure facilities.

“Additionally, there are many further amenities such as schools, Dunnes Stores, Lidl and Parkmore IDA Park, the major employment hub on the east side of the city.”

For further information or to arrange a viewing, contact DNG Maxwell, Heaslip & Leonard on 091 565261.

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Connacht Tribune

Energy efficient home brings A game

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Forster Park, just off Dalysfort Road

This A-rated energy efficient home in Salthill was built in 2017 and incorporates all the advancements in building technology.

The four-bed property in Forster Park, just off Dalysfort Road, occupies a deceptively large site with off-street parking to the front and two side accesses to a large south-facing rear garden.

The owners commissioned the architect to provide a modern, efficient home and to maximise the natural attributes of the south-facing site and incorporate the light into the building.

They achieved their goal. Light permeates this home with large floor to ceiling windows, roof lights and high ceilings.

As well as the contemporary design, the materials used are cutting edge with Zinc external cladding and roofing.

There are aluclad windows and doors, external tiles to rear that match internal floor tiles, solid timber internal doors, designed Surreal kitchen with Corian worktops.

Being an A3-rated home it has high level of insulation, triple glazed windows, air to water heat pump heating system with under floor heating on the ground floor and secondary heating in the form of ambient wood burning stoves in the main reception areas.

All the rooms are bright, spacious and well proportioned, designed to be minimal and efficient yet provide comfortable living spaces.

This is a superb home, finished, fitted and decorated to a very high standard. It has off street parking to the front, two side accesses to a large south facing patio garden that features a wall mounted central water feature.

It is serviced with all the amenities including shops, schools, public transport and public amenities such as Salthill Park and the Prom.

This is a superb easily run, maintained and comfortable home in prime Salthill location.

The asking price is €975,000. For further information or to arrange a viewing, contact Sherry Fitzgerald on 091 569123.

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Connacht Tribune

Local homes go for online auction

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Newbridge, Clifden: guiding at €235,000.

iamsold will hold their next online auction on May 19 and are continuing to take entries for their 2022 summer auctions, which take place on June 23 and July 21.

Shane May, Sales Manager for iamsold, said: “Previous years have shown the April to July period is particularly strong for selling residential and commercial property. We have an excellent variety of properties currently on offer, and we are finding that there is an ongoing appetite for realistically priced property throughout the country. Our partner auctioneers have been kept busy as requests for viewings remain high on all our auction properties.”

Among the properties going under the hammer are:

12 The Spires, Clifden. Offered at bids over €275,000 in partnership with Matt O’Sullivan Auctioneer, this large four-bed semi is just a stone’s throw from the town and comes to the market in turkey condition. Internally the property offers bright and airy accommodation throughout, while externally there is a spacious and beautifully maintained back garden.

3 Newbridge, Clifden. Offered at bids over €235,000 in partnership with RE/MAX Professional Partners, this is a three-bed end-of-terrace property within walking distance of the town. A bright and spacious property, it is presented in turnkey condition and sits on an elevated site.

For further information, visit iamsold.ie or phone 091 882121.

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