This proved to be one of the busiest years in recent times for private treaty sales for leading estate agents O’Donnellan & Joyce auctioneers. The results come after a successful year in 2020 despite continuous restrictions and the company's private treaty department aimed to exceed that with close to 250 residential properties sold in the year to date.
O’Donnellan & Joyce auctioneers continues to be the leading agent in private treaty sales in Galway city and county commanding an impressive market share - exceeding 21 per cent over the past 12 months. Fuelled by a strong work environment and good local knowledge, the private treaty department has benefitted from embracing new technology, most notably 3D virtual tours allowing interested parties to review property sales when not able to attend viewings.
Throughout the year there has been a notable demand from owner occupiers for properties within the city region and established neighbourhoods such as Renmore, Salthill, Claddagh, Barna, and Knocknacarra, while supply levels have continued to be limited. O’Donnellan & Joyce recorded an incredible summer of sales in the Salthill area. Hugh O’Donnellan, sales agent at O’Donnellan & Joyce, said: “Many properties have been sold at record levels, exceeding many clients’ expectations. People realised that Salthill has everything that a family could require with the magnificent Promenade and exceptional community facilities all on your doorstep.”
Salthill has become the jewel of the city with demand outstripping supply. Every property the company placed for sale had several people bidding in a competitive environment with prices exceeding expectations. Some of the excellent sales the company has had this year include the following.
Winterwood, Beech Court, Grattan Road
A stunning contemporary residence in a breathtaking location just a stone's throw from Salthill Promenade, Winterwood, Beach Court, is a truly outstanding family home, with the bright and beautifully laid out interior-designed family residence taking full advantage of the south facing aspect to the front of the property. This property is a fine example of the style of home that many families are seeking.
Salthill Lodge, No 112 Salthill Road Lower
Salthill Lodge was a period-style detached residence on a substantial site in the heart of Salthill village. Originally constructed in 1930, No 112 Lower Salthill was a single-storey home that offered ample space throughout including four bedrooms. The property was situated on Lower Salthill just off of Salthill village, long considered one of the most sought after residential areas in Galway city. The Lodge, No 112 Lower Salthill, was a truly unique opportunity to acquire a charming residence full of appealing character with ample space, internally and externally, in one of Galway's most popular locations.
Glenrevagh House, No 11 The Orchard, Kingston
A luxury five bed detached family home located just off the Kingston Road, Galway, No 11 The Orchard was situated within a meticulously maintained development in a quiet enclave of exclusive superior homes just a stone's throw from the local GAA grounds at Pearse Stadium and Salthill village. This property offered all that one could ask for in terms of convenience, class, and style. Homes of this size and style rarely come up for sale so when they do, be sure to act fast.
Ashwood House, No 20 The Orchard, Kingston
This magnificent five bed detached family home combined style and elegance, making it one of the finest to come to the market in recent times. Extending over four floors with a very generous interior measuring 3,500sq ft, this property offered all that one could ask for in terms of convenience, class, and style. The location of this property offers luxurious living just a stone's throw from Salthill village and the Promenade with its magnificent beaches.
Hugh O’Donnellan commented: “The private treaty department is kept busy with a massive influx of second hand homes being offered to the market as owners look to cash out on investments, or upgrade to a more modern family home, or the empty nesters look to down size. With the strength of the market in Galway at present, many properties which are listed for sale are snapped up quickly by first time buyers and those looking for a change of lifestyle or location.”
Currently, buyer demographics are predominantly first-time buyers, with a notable amount relocating from other regions such as Dublin, taking advantage of work-from-home opportunities. Many buyers are paying significantly more in rent than they would on mortgage repayments and have made the decision to purchase to relieve these financial strains, a similar trend seen in the previous year.
While supply levels continue to be an issue throughout the market, O’Donnellan & Joyce’s leading market share and active approach continue to instruct high levels of quality properties. The private treaty department expect a similar trend in 2022 with a possible relief in supply aided by new home developments being launched throughout the region.
