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Mixed news for homeowners and potential buyers as prices continue to rise



7 Burrenview Heights in Knocknacarra, which sold for €520,000

House prices in Salthill – traditionally one of the most sought-after addresses in Galway – jumped by around one-fifth over the past year, new research has shown.

Despite a lack of building activity, local auctioneers O’Donnellan & Joyce are reporting a renewed confidence in the property market in the city, which is driving prices up.

And they estimate prices could rise by up to 8% over the coming year in Salthill.

And two-bed apartments in Knocknacarra – whose values tumbled during the property crash – have increased in price by a whopping 50%.

According to the Sunday Times Property Price Guide 2015, across the city, prices will increase by between 5-10%. The survey relied on figures provided by O’Donnellan & Joyce and Sherry Fitzgerald.

The average price of a new home in the city now stands at €280,000, while a secondhand four-bed semi in the suburbs sites at €250,000.

As a whole, prices in the city increased by around 10% during 2014.

There was a lot of activity in the city property market – particularly in the second half of the year – because of the December 31 deadline on the Capital Gains Tax exemption scheme. Any property purchased before that date and held for a period of seven years is exempt from CGT.

“The last quarter of the year saw investors looking to beat the deadline for CGT exemptions. Family homes were popular and rents were up,” the report reads.

Three-bed semis saw an increase in value of more than 13% over the past year, from €185,000 to €210,000, and are expected to increase a further 5% to €220,000 by 2016.

Four-bed semis rose 9% in price from €220,000 to €240,000, and are predicted to increase by another 4% to around €250,000.


The average price of a new home is €270,000 or €240 for a secondhand property – up 15% during 2014. Agents expect a further 5-10% increase in price during the coming year.

“Three- and four-bed semis and family homes were above the market average. There were signs of renewed activity as the year went on, but the vast majority of movement came from owner-occupiers who were encouraged to sell as prices rose, rather than developers building new homes,” the report reads.

During the past year, O’Malley Construction finished out the Leargán development on the Western Distributor Road, and Burkeway Homes announced the construction of more than 70 new homes on the Upper Ballymoneen Road in a €20 million project.

One-bed apartments increased in price by 25%, from €85,000 to €100,000 and are expected to remain static this year.

Two-bed apartments increased by 50% – from €100,000 to €150,000 – and are set to be valued at around €160,000 by 2016.

Two-bed townhouses – which became increasingly common in larger estates during the construction boom – have seen a 20% increase from €125,000 to €150,000 over the past year and are likely to hit €160,000 by 2016.

Secondhand four-bed semis are currently selling for around €240,000 (up from €220,000) and are likely to remain static this year.

Secondhand four-bed detached homes are up 10% to €330,000, and are likely to increase to €350,000 in the coming year, according to the report.

For more, read this week’s Galway City Tribune.

Connacht Tribune

Galway student achieves Best in World ranking in accountancy exams



Lucy O’Donoghue receiving an award marking her top ACCA result in Ireland from Ronnie Patton (left) Deputy President of ACCA Global, and Mick Bristow, Lecturer with

A Galway City student is celebrating success in her ACCA (Association of Certified Chartered Accountants) exams where she achieved first in Ireland and 19th place in the world in her Financial Management exam. student Lucy O’Donoghue had completed a Masters in International Management from University of Galway and joined the graduate programme at the Central Bank.

And with her interest in the areas of business, finance and strategic management, she said the next logical step was to look at studying for ACCA qualifications with

“When I was starting out on my ACCA journey, it was a bit daunting – twelve exams felt like a mammoth task and at times the road felt never-ending,” she said.

“So, I think the best advice I would give to someone in a similar situation would be not to get bogged down by how far you have to go – take it exam-by-exam and keep chipping away at it. Eventually it will all come together!” – based on Fitzwilliam Street in Dublin – is a Platinum Approved Learning Partner of the ACCA, the globally recognised accountancy qualification.

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Galway survey finds almost half believe they’ve missed out on progress over gender



Survey...Galway Chamber President Dermot Nolan.

As many as four out of ten female executives in Galway believe they have missed out on a raise or promotion due to gender – and a further 46% said their gender had also played a role in their missing out on a key assignment and more than half (56%) believe it impacted on a chance to get ahead.

That’s according to a new survey conducted by Galway Chamber, which revealed that one in five  female executives also believe their gender had resulted in missing out on one or more of these opportunities over the last year – while three out of eight feel that men and women are not treated equally in their current workplace.

These results come from a Galway Chamber survey of more than 100 Galway based female corporate leaders and executives, which was conducted in advance of International Women’s Day.

The survey was conducted over a three-week period in February, issued to members of Galway Chamber.

More positively, it also found that almost two out of three (64%) female executives say they have seen a rise in the number of female corporate leaders in their company or organisation in recent times.

A total of 62% of female executives also believe that gender equality has increased in Ireland in the last year.

Although six out of ten (61%) female executives would characterise the level of gender equality in Galway as “positive, but more progress needed”, this is slightly down on the 64% who held that view when the same question was posed last year.

Also positive were the 92% of female executives who said they believe women have achieved more equal rights in the workplace over the last 10/15 years, up from 86% who were of that view a year ago.

When asked which aspects of equality they had seen progress on in their workplace since they began working with their current employer, 57% said they had seen advances in equal promotion opportunities, 53% on the equal treatment of genders and avoiding discrimination, 51% on the gender spread of leadership and 36% on equal pay.

For more, read this week’s Connacht Tribune.

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Connacht Tribune

ALDI spends €20 million with Galway producers



Investment...ALDI Ireland Group Managing Director Niall O’Connor

ALDI Ireland sourced €20 million of locally produced food and drink from Galway based suppliers last year, according to its annual Economic Impact Report.

The company said it also paid €7.5 million in wages and salaries last year and opened two new stores in Tuam and Mountbellew.

In 2022, ALDI partners with eleven local Galway producers, including key relationships with Sean Loughnane and Arrabawn Dairies – as it began working with 15 new Irish suppliers for the first time.

Operating eleven stores in Galway, ALDI employs over 230 full time staff in the county. All available job opportunities in County Galway can be found on the ALDI Recruitment website.

A total of 45 new jobs were created in ALDI’s new Tuam and Mountbellew stores in 2022. These new store openings form part of ALDI’s dedicated West of Ireland expansion programme which will see the company invest over €63 million and create 140 new full-time jobs and 350 construction jobs across Connacht over the next two years.

ALDI’s stores support multiple charities across Galway at a local level. Each store is part of ALDI’s food waste reduction programme, with ALDI’s Galway stores having donated over 74,000 meals through FoodCloud to local charities.

Each store is also part of ALDI’s Community Grants network with East Galway and Midlands Cancer Support and Voices for Down Syndrome Galway just some of the local charities that availed of the €500 bursary grant in 2022.

In addition to donating to local charities, ALDI also supports local communities through its tree planting initiative, with a commitment to planting one million native Irish woodland trees across Ireland by 2025. To date, ALDI has planted over 540,000 trees across the country. ALDI has planted 35,000 trees across County Galway.

ALDI Ireland Group Managing Director Niall O’Connor said the goal was to make a positive impact in every local community that their stores serve.

“We’re delighted to announce that we spent over €20 million sourcing locally produced food and drink from Galway suppliers in 2022, while investing over €42 million in the county since opening our first Galway store in West City Centre Retail Park in 2000,” he said.


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