O’Donnellan & Joyce records €6.2 million in sales in last auction before capital gains tax deadline

O’Donnellan and Joyce’s final all-day property auction of the year on Friday December 12 saw property sales reach €6.2 million. Residential property sales in the afternoon reached €4.5 million, with many first time buyers in evidence around the auction room such was the value on offer. In the morning €1.7 million in property sales was reached with cash buyers and investors Christmas shopping ahead of the December 31 capital gains tax deadline.

Yet again the attraction of Galway city and county for home owners and investors was very evident, with keen bidding on properties located close to the city centre, NUI Galway, and UHG in particular.

The highlight of the afternoon’s auction was a block of four apartments on Shantalla Road, comprising two two-bed and two three-bed apartments, attracting fierce bidding with the hammer finally falling at €620,000. In addition, a three bedroom detached house on a large site enthralled the packed auction room when auctioneer Colm O’Donnellan sold the property for a staggering price of €550,000.

DIY enthusiasts and bargain hunters were also evident in the afternoon, with two semidetached houses in need of repair at Nos 4 and 5 Newcastle Road at Cooke’s Corner, Galway city, selling for €80,000 and €88,000 respectively.

Once again established locations such as Salthill saw much demand, with a four bedroom semidetached home at St Rita’s, San Antonio Terrace, Salthill, selling for €361,000. A delighted home owner purchased an attractive four bed semidetached end house overlooking a well maintained green at No 50 Bun an Chnoic, Rahoon, located close to all local amenities, for €227,000.

Investor and residential properties from across Galway, Mayo, Leitrim, Sligo, and Clare were brought to auction on Friday, with buyers keen to take advantage of the exceptional value on offer and the capital gains tax deadline of December 31.

There was exceptional value on offer throughout the day. In the morning a lot of four apartments and one townhouse in Ballyhaunis, Co Mayo, sold as one lot for €80,000. Similarly in Cliffoney, Co Sligo, four three bedroom semidetached houses sold for €80,000. A commercial warehouse of 3,762sq ft in Claremorris, Co Mayo, sold for €24,000, while a commercial unit in Craughwell, Co Galway, sold for €30,000.

Galway city remains a hugely attractive location for investors and property buyers. Throughout the morning addresses close to NUI Galway, UHG, and GMIT experienced strong interest from investors and cash buyers. No 61 Lower Newcastle, a six bed semidetached house with two chalets to the rear with huge development potential, saw the most intensive bidding during the morning auction. Competing for this property were two phone bidders and two auction room bidders, with the hammer finally falling at €265,000.

Also in Newcastle was a five bed end of terrace house in need of intensive refurbishment, which sold for €275,000. In Doughiska on the east side of Galway city, close to GMIT, a two bed apartment sold for €82,000. In Oranmore, a four bed bungalow at Moyveela sold for €180,000, while a six bedroom detached Swiss designed house, Moynoe, in Scarriff, Co Clare, sold for €277,000.

“Sales throughout 2014 have been strong at O’Donnellan & Joyce auctioneers, with the highest volume of sales seen over the last six years,” said auctioneer Colm O’Donnellan. “Due to the CGT deadline, investors were very evident in the auction room today and we expect sales to continue steadily with a slight increase in prices for 2015, investors may not be as prominent as in 2014 and this should give a better opportunity to home owners.”

The results of Friday’s auction are below.

Morning session

Moyveela, Oranmore: A four bed bungalow, sold for €180,000.

No 4 Doughiska Centre, Doughiska: A two bed apartment, sold for €82,000.

No 1 Old Galway Road, Loughrea: A two bed semidetached, sold for €70,000.

Moynoe, Scarriff, Co Clare: Six bed detached, sold for €227,000.

Apt 3, The Station House, Clifden: Postponed.

Warehouse at Charlestown, Co Mayo: Approximately 3,762sq ft, sold for €24,000.

Hazel Court Apartments, Ballyhaunis: Four apartments and one townhouse, sold for €80,000.

No 1 River Falls, Clifden: Three bed end of terrace, sold for €84,000.

Derrartha Mor, Carraroe: Three bed bungalow, withdrawn.

Beach Cottage, Ballyconneely: Postponed.

Commercial premises, Furbo: Approximately 4,500sq ft, withdrawn.

Glenarr, Kilmallock, Co Limerick: Postponed.

No 87 Cois na hAbhainn, Tuam: Four bed semidetached, sold for €91,000.

No 70 Cois na hAbhainn, Tuam: Three bed semidetached, withdrawn.

Barr na Tra, Cliffoney, Co Sligo: Four, three bed semidetached homes, sold for €80,000.

Church Street, Dunmore: Two bed townhouse, sold for €25,000.

Mill View, Charlestown, Co Mayo: Four two-bed apartments, sold for €100,000.

Main Street, Ballindine, Co Mayo: Three bed terraced, withdrawn.

Craughwell, Co Galway: Retail unit, sold for €30,000.

Site at Leagaun, Moycullen: Circa 0.5 acre, sold for €5,000.

Land at Lisnascreena, Ahascragh: Circa 28 acres, withdrawn.

Drumkerran, Co Leitrim: Circa three acres, sold for €10,000.

Lands at Ballymote, Co Sligo: Circa 11 acres, sold for €35,000.

No 61 Lower Newcastle: Six bed semidetached, sold for €265,000.

No 6 St Mary’s Road, Newcastle: Five bed end of terrace, sold for €275,000.

Afternoon session

No 12 Fisherman’s Wharf, Bowling Green: Two bed apartment, sold for €188,000.

No 67 Coogan Park, Newcastle: Three bed end of terrace, sold for €160,000.

St Rita’s, San Antonio Terrace, Salthill: Four bed semidetached, sold for €361,000.

No 7 Pearse Avenue, Mervue: Three bed terraced, sold for €156,000.

No 50 Bun an Chnoic, Rahoon: Four bed semidetached, sold for €227,000.

No 6 Greenfields Road, Newcastle: Three bed semidetached, sold for €253,000.

No 6 Cedarwood Close, Highfield Park: Four bed semidetached, sold for €250,000.

No 9 Distillery Road, Newcastle: Three bed detached, sold for €550,000.

Nos 1 to 4 Tui Bhriain, Shantalla Road: Two two-bed and two three-bed apartments, sold for €620,000.

No 11 Cloonarkin Drive, Oranmore: Three/four bed bungalow, sold for €259,000.

No 4 Newcastle Road: Four bed semidetached, sold for €88,000.

No 5 Newcastle Road: Three bed semidetached, sold for €83,000.

No 8 Lydon’s Terrace, Bohermore: Four bed terraced, sold for €180,000.

No 10 Commerce Court, Flood Street: Three bed duplex, withdrawn.

No 23 Cedarwood Close, Highfield Park: Four bed semidetached, withdrawn.

No 31 Rahoon Road, Shantalla: Three bed end of terrace, sold for €162,500.

No 63 Rosan Glas, Rahoon: Four bed townhouse, withdrawn.

No 188 Dun na Coiribe, Headford Road: Four bed detached, sold for €370,000.

2 Eglinton Court, Eyre Street: Two bed apartment, sold for €116,000.

No 22 Henry Street, city centre: For sale by private treaty.

No 137 College Road: Three bed semidetached, sold for €180,000.

No 14 Renville Village, Oranmore: Three bed detached, withdrawn.

No 35E Merchants Dock, Merchants Road: Two bed apartment, withdrawn.

Clooniffe, Moycullen: Four bed bungalow, sold for €235,000.

Cuilsallagh, Kilkerrin, Ballinasloe: Five bed bungalow, sold for €120,000.

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