Galway house sales continue to show new signs of life
There are clear signs once again that the residential property market in Galway is going through a revival – albeit from a low starting point.
Ballinasloe, Tuam and Oranmore recorded the highest level of residential property sales in the county in the first nine months of the year, according to new research.
And property sales during that period in Galway more than doubled since 2010.
The report from property website ValueMyProperty.ie shows that between January and September this year, there were 88 properties sold in both Ballinasloe and Tuam.
Oranmore recorded a total of 81 sales; there were 79 in Gort; 67 in Athenry; 58 in Salthill; 69 in Loughrea; 56 in Headford; 47 in Ballybrit and 42 in Knocknacarra.
Overall in the city and county in the first nine months of the year, there were 1,495 residential property sales. That is up more than 120% on the same period in 2010, with 677 sales.
The comparative figure for 2011 was 632; in 2012 in was 720 and in 2013, it was 1,003.
The report also found a distinct lack of availability of three-bed semi-detached properties – the ‘staple diet’ of first-time buyers – which is forcing asking prices upwards.
Tim Kelly, Director of ValueMyProperty said: “We are seeing a consistent and steady growth in the number of property transactions in County Galway over the last four years. The three-bed semi-detached house is a very popular choice for families across the county.
“The problem is that there aren’t enough properties available to meet the demand, which is driving up prices,” he said.
The highest number of three-bed semis for sale in Galway at the moment are in Tuam (27), followed by Loughrea (15); Athenry (11); Ballinasloe (10) and Knocknacarra.
See full story in this week’s Connacht Tribune.