Some positive signs in the property market

There is no doubt that 2009 was one of the most difficult years experienced by many in all sectors, not least the property market, but the latter part of 2009 brought some more encouraging signs in the property market with a very respectable number of sales being achieved.

Mullery auctioneers reported a very busy period during September, October, and November, and even a number of sales in December which traditionally is a very quiet period for property sales. Mike Mullery of Mullery auctioneers reported good interest in residential properties, in particular in the lower end of the market.

“Three and four bedroom homes in areas like Knocknacarra, Renmore, Roscam, Doughiska, Oranmore, Ballybrit, Newcastle, etc, are selling well and in some cases we have even had a number of parties chasing the same property,” he said. “I think prospective purchasers feel that there is now very good value on offer in the market with prices having dropped substantially from their peak in late 2006/ early 2007.”

The agents have recently sold and agreed sales on a large number of properties including a four bedroom semi in Drom Oir, Knocknacarra, a two bedroom apartment on the Western Distributor Road, a four bedroom semi in Gort na Bró on the Western Distributor Road, a three bedroom semi in Cloch Óg, Oranmore, a four bedroom house in Renmore, a two bedroom apartment in Newcastle, and a four bedroom semi in Bun an Cnoic, Rahoon Road.

“We currently have a shortage of properties in areas like Knocknacarra, Renmore, Roscam, Oranmore, Salthill, Newcastle, and indeed many other parts of the city with a list of interested parties on file,” Mr Mullery said. “These include people that would have been bidding on other properties with us and parties who have viewed other houses with us but which may not have suited their requirements.

“There is a very limited supply of good starter homes coming on the market and this, combined with the large volume of sales that have occurred in the latter part of 2009, has led to a shortage of good properties in many areas of Galway city.”

Mullery auctioneers is currently seeking properties in all areas of Galway city. If you are considering selling your home or buying a property in 2010 the agents can be contacted on (091 ) 567275 or visit www.mulleryauctioneers.ie

 

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