O’Donnellan & Joyce has reported an excellent start to the 2015 calendar with 13 properties going sale agreed in the first two weeks of January. The properties are apartments to semidetached homes on both the east and west of the city.
“Price stabilisation and confidence has played a huge part in the sales,” said Niall Browne of O’Donnellan & Joyce who, along with Kyle O’Brien and Emma Carpenter, continues from a hugely successful year in 2014, which saw 242 private treaty sales concluded.
The supply of property for sale, combined with a positive level of demand, has caused a healthy level of activity culminating in a levelling of prices, allowing for buyers to purchase and sellers to sell. The dramatic increase in the price of properties has levelled, allowing for some affordability within the Galway market. Typical houses in the city and suburbs are achieving a 10 to 15 per cent level increase from 2012/2013 prices.
“Owner occupier homes are selling very well, with investment properties also experiencing a continued sales growth, despite the capital gains tax benefit deadline passing,” Mr Browne added. “It was a great start to 2015 with a number of properties becoming sale agreed. Of the 13 properties agreed, four of these properties were agreed to investors looking to purchase apartments in the city and suburbs.”
Properties in other areas of the city such as Salthill, Oranmore, Roscam, and Doughiska are also selling very well, and the demand for property has increased significantly, creating an increase in viewing requests for the team at O'Donnellan & Joyce auctioneers.
“Our diaries for private treaty sales are generally full throughout the week and in particular Saturdays with private appointments and open viewings witnessing six or seven couples or individuals per viewing at each property,” he said.
“Purchasers have become accustomed to the market prices of properties and have carefully educated themselves on the realistic values that should be expected with the use of the Property Price Register and other sources. Most people are fully aware of the repercussions of spending more than they can afford.” Mr Browne also indicated that banks are lending and are open for business for starter homes which are mostly in demand.
To view properties online visit www.odonnjoyce.com, or you contact the office on 091 564212.