Thursday 21 September 2017

Tuam leads the way as prices start to rise again

Galway City Centre. Pic: Michael Mc Laughlin
Galway City Centre. Pic: Michael Mc Laughlin
Mark Keenan

Mark Keenan

GALWAY

Tuam, Athenry, Headford, Ballinasloe, Loughrea

No Change

Average Price:€80,000

One Year Forecast: Up 2%

Assessing Agent: Martin Tyrell.

The Market:

The Co Galway property market has recently turned a corner, led by Tuam where sales activity has been increasing and local prices are now starting to rise again.

Our expert believes Tuam has the potential to see prices rises by 10% this year with lesser rises in other big towns like Headford and Ballinasloe.

"In the last three months of last year we noticed a pick up in confidence that is continuing to develop. How quickly and well a property sells all depends on quality and location," says Martin Tyrell.

In most of the towns the banks have started lending again after a long credit famine and investors have even been dipping their toes in the water again in search of larger family homes in the bigger towns – particularly those within reach of Galway city.

These are also the most popular property types for owner occupiers, many of whom had postponed a home purchase until they believed the bottom had been reached.

Unlike other counties there is no major issue with supply in Co Galway nor do cash buyers account for any significant number of sales.

The slowest property types to sell are semis in estates which were built too far out of town.

Overall a slight rise in values is expected this year lead by Co Galway's bigger towns.

The Prices:

2-bed apartment:

Jan 2013: €62,000

Jan 2014: €62,000

Jan 2015: €63,000

2-up/2-down:

Jan 2013: €55,000

Jan 2014: €55,000

Jan 2015: €56,000

3-bed terrace:

Jan 2013: €65,000

Jan 2014: €65,000

Jan 2015: €66,000

1-bed cottage:

Jan 2013: €55,000

Jan 2014: €55,000

Jan 2015: €56,000

2-bed cottage:

Jan 2013: €65,000

Jan 2014: €65,000

Jan 2015: €66,000

3-bed semi in town:

Jan 2013: €80,000

Jan 2014: €80,000

Jan 2015: €82,000

3-bed semi out of town:

Jan 2013: €55,000

Jan 2014: €55,000

Jan 2015: €55,000

4-bed semi in town:

Jan 2013: €85,000

Jan 2014: €85,000

Jan 2015: €87,000

4-bed semi out of town:

Jan 2013: €70,000

Jan 2014: €70,000

Jan 2015: €71,000

3-bed bungalow in town:

Jan 2013: €80,000

Jan 2014: €80,000

Jan 2015: €82,000

3-bed bungalow out of town:

Jan 2013: €70,000

Jan 2014: €70,000

Jan 2015: €71,000

4-bed bungalow in town:

Jan 2013: €90,000

Jan 2014: €90,000

Jan 2015: €92,000

4-bed bungalow out of town:

Jan 2013: €78,000

Jan 2014: €78,000

Jan 2015: €80,000

5-bed detached in town:

Jan 2013: €98,000

Jan 2014: €98,000

Jan 2015: €100,000

5-bed detached out of town:

Jan 2013: €78,000

Jan 2014: €78,000

Jan 2015: €80,000

Detached large house on own grounds:

Jan 2013: €85,000

Jan 2014: €85,000

Jan 2015: €87,000

Irish Independent

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