It is not just the larger cities of Dublin and Cork that are experiencing unprecedented demand in residential property sales. The Galway property market is alive and kicking. Growth in recent months is clear to see in many areas throughout the city and county. Potential buyer sentiment is on the up, and location and the type of property remain key deciders for many potential buyers.
Leading Galway auctioneer Allman Reynolds has witnessed unprecedented demand for three and four bedroom semidetached and detached family homes, as well as investment property throughout the city and county in recent months. Substantial crowds have attended Allman Reynolds’ property viewings in recent weeks. The market has turned in a positive direction with a healthy appetite for residential property returning steadily to the residential sales market. And this momentum in residential property sales looks to continue for the foreseeable future. This is especially true in relation to three and four bedroom semidetached and detached family homes in certain areas and suburbs of Galway city and county.
These types of residential family homes, along with investment properties such as city apartment blocks close to key institutions NUIG and UHG (that produce a healthy annual rent roll), are proving very popular with potential buyers both on and off market. Allman Reynolds is selling three such types of residential properties quickly and achieving well in excess of the asking price.
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Oisin Allman of Allman Reynolds auctioneers stated that demand is high for key areas and certain types of residential property in Galway with potential purchasers coming out in strength and buying power at recent open viewing held by the company. “Allman Reynolds has witnessed real enthusiasm that has not being seen in some time with many potential buyers actively bidding on site at viewing stages, creating an almost live auction scenario,” he said.
Many people are now asking why this change in sentiment and why now. The answer is simple, this “change has not occurred overnight, lest we forget Ireland has come out of almost a six year property hiatus, where the Irish market had slowed almost to a shuddering halt. Now young people are returning to the market with vigour and buying power. So by no means is this change in buyer behaviour sudden. Another valid point is that the family home and property ownership is deeply embedded in the Irish psyche, we may rent for a while but it is in our DNA to own our own home, as generations before us did.”
From what Allman Reynolds auctioneers has witnessed in recent weeks, it is clear that new blood is flowing through the Galway and Irish property market.
“Our expert advice is that if you’re thinking of selling your property, then now is a good time to sell and if you’re a potential buyer then now is a good time to purchase and to put your roots down in your own home,” Mr Allman said.
For the potential buyer Allman Reynolds has a number of excellent value properties coming to the open market.
For further information contact Allman Reynolds’ sales department on 091 513100.