Claddagh property prices increase since Covid

It was widely reported in the national media that property would be negatively impacted by Covid with prices expected to fall by an average of 10 per cent. This certainly has not been the case in Galway with auctioneers reporting an increase in demand for property across the city. One of the strongest areas of demand has been The Claddagh.

The Claddagh is one of Galway’s longest established and most respected communities, so it is no surprise it is now also one of the most sought after locations to live. Colleran auctioneers has successfully sold many homes over the years in this most desirable location and continue to set new records with the sale of three more Claddagh houses in the last five weeks, all exceeding their guide, two by as much as €100,000.

“I sold my first house in the Claddagh back in 1983 and I have never seen the demand so strong for the Claddagh," Don Colleran said. "We have had multiple bidders on each house and many from outside the county and country. I think Covid has now changed people’s priorities when looking for a home and instead of moving out of the city for a larger house on a larger site, all the conveniences of city centre living are suddenly more appealing.”

With more people now working from home, their living requirements have changed, and shared rented accommodation is less appealing. Many buyers are working in good secure jobs and all of a sudden are looking to buy rather than rent, and this has resulted in an increase in property inquiries and viewings as reported by all auctioneers. Locations like the Claddagh tick all the boxes for these young professionals with every necessary service on your doorstep from the City centre to the Salthill Promenade.

In addition to young professionals, Don Colleran has also reported a surge in people looking to relocate or retire to the city centre. The sale of a recent bungalow in St Dominick’s Road saw many bidders from outside the county and country looking to buy what could possible be their last move and with this in mind, a bungalow ticked all the boxes.

With so many underbidders on the last three properties Don Colleran sees no sign of the demand easing up in the near future and is now anxious to talk to anyone thinking of selling in the Claddagh.

For a free sales valuation contact Don Colleran in confidence at Colleran auctioneers, 091 562293 or www.collerans.com

 

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