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Colleran auctioneers maintained its 100 per cent success rate last week with its final auction of the year. Don Colleran has been reporting for some months now that property prices within the city centre were on the rise, in some cases by as much as 20 per cent. Housing stock within the city centre has now reached alarmingly low levels both for those looking for investment and for family homes. Buyers are now reporting great difficulty and frustration in finding suitable properties.

There are encouraging signs of renewed confidence in the Galway residential property market, particularly over the past six months. According to Tony Kavanagh of Sherry FitzGerald Kavanagh Galway the company has seen an increase in residential sales during that period.

Last week proved to be another busy week for John Quinn & Co despite the sluggishness of the market in general. The company managed to dispose of quite a number of properties in and around the city centre at affordable prices.