Sales activity in the first four months of 2011 has been surprisingly brisk for quality residential property in and around Galway city, according to Sherry FitzGerald Kavanagh which released results for January to April.
The company has closed many sales including a four bed semi in Rosan Glas, Rahoon, two detached four bed homes in Barr Aille, Tuam Road, a four bed townhouse in Dun na Carraige, Salthill, and a two bed apartment in Rockland Court, Salthill.
In addition, sales closed on a two bed apartment on St Mary’s Road, a lakeside chalet in Annaghdown, a site with FPP in Roscahill, a large detached house in Oranmore, a detached bungalow in Kilcahill, and a semidetached home in Corrandulla.
Tony Kavanagh said these are some of the sales that have actually closed in the past few months. “Most of the purchasers of these properties are owner occupier purchasers who recognise the excellent value to be had currently in the market,” he added.
“We have also agreed sales on a four bed semi in Manor Court, Knocknacarra, a four bed semi in Ocean Wave, Salthill, a four bed detached in Lurgan Park, Renmore, a three bed detached in Friars Hill, Rahoon, two houses at Raleigh Row and Sandy Road, and apartments in Galway Bay, Salthill, and Glór na Mara beside the docks in Galway city centre. All of these sales represent value for money which is encouraging buyers into the market, many of these buyers have substantial cash reserves and are borrowing relatively low loan to value amounts.
“We have experienced strong demand for properties particularly in the past eight weeks and in a number of these recent sales, have had two or more bidders,” Mr Kavanagh continued. “There is a sense of pent-up demand from potential buyers who have waited a long time to get value and now when it’s available they are making the decisions to buy. We have active buyers for all areas of the city but particularly for those areas mentioned. Property as an asset class still compares very favourably against many other asset classes. Property provides for needs such as shelter, warmth, protection from elements at its most basic, but can be rented to produce an income and can be mortgaged to help provide money to purchase. For all these reasons buyers are back out in considerable numbers.”
If you are considering selling, contact Tony Kavanagh in confidence for free advice and valuation at (091 ) 569123.