Last year started off with sales in Rockbarton Park, Clogher, Claregalway, Kingston Road, Pairc na gCapaill, and Dalysfort Road to name a few, kicking off what turned out to be an incredibly busy year for O’Donnellan & Joyce auctioneers' private treaty department, one of Galway’s leading estate agents for more than 40 years.
Hugh O’Donnellan, member of O’Donnellan & Joyce auctioneers sales team, has noted that the majority of demand in the market is for owner-occupier and first-time buyer demographics, with notable interest from new investors on the market as well. First-time buyers continue to make up a lion’s share of purchasers, preferring to pay their mortgage rather than seek further rental accommodation in a dwindling market.
However, there’s also been a significant increase in purchasers looking for their ‘forever homes’ which has led to a surge in demand in already well-established areas such as Renmore, Salthill, Knocknacarra and Barna.
Also, a trend noticed in 2023, apartments are now being seen as better options for first-time buyers with an increase in inquiries for one and two bed apartments in Galway city. There has also been a notable increase in the market for apartments with the intended use being student accommodation. Galway city sees thousands of both national and international students travel to avail of quality education provided by University of Galway and ATU, with some excellent apartments sold last year in Suan Tra, Dun Aengus, Whitestrand, and Commerce Court among others.
Additionally, there continues to be a notable number of purchasers relocating, internationally and domestically, due to the rise in remote working positions. These flexible work positions have allowed people to benefit from choosing Galway and its good quality of life.
The most notable demand within the Galway region is primarily in already well-established and popular residential areas, such as Barna, Salthill, Knocknacarra, Shantalla, Newcastle and Renmore, due to buyers wanting to avail of amenities and outdoor landmarks within walking distance.
This has resulted in the majority of properties having several bidders and exceeding client expectations, and in some circumstances properties achieving record prices. A few samples of excellent sales in these areas this year include:
Park Avenue, Dalysfort – sold €1,500,000
An exceptional five bed property in a prime location in Salthill. The south facing property adjoins the park which leads to Salthill Promenade and the iconic Galway Bay. Constructed in the early 1950s, this home has been well maintained over the years. The property offered ample accommodation of approximately 209.5sq m.
Rockbarton Park – sold €1,575,000
An excellent four bed detached residence in Rockbarton Park, one of the most sought-after locations in Galway city. The property offered spacious accommodation over two storeys. This second-to-none property benefited from a family-friendly location just off Salthill Promenade, with park and village nearby.
Ballagh, Bushypark – sold €695,000
A beautiful four bed detached residence in the ever popular Bushypark area of Galway, offering ample accommodation with approximately 159.7sq m over two storeys. Originally constructed in 1983, the property was offered to market in excellent condition. Close to quality local schools such as Bushypark National School and close to the University of Galway, UHG and Galway Business Park.
Ardmore, Taylor's Hill – sold €920,000
A magnificent five bed residence ideally situated in the Ardmore development, another desirable residential location in Galway city. This property’s location was a key attraction as Taylor’s Hill has been long established, conveniently located close to several quality primary and secondary schools, is well serviced by local amenities and within walking distance to Galway city.
Devon Court, Salthill– sold €850,000
A large five bed detached residence ideally located in a quiet and sought-after cul-de-sac in a popular residential area of Salthill. Devon Court consists of a small number of detached homes with mature communal green space. Everything the area is known for is within walking distance including Salthill village and promenade and Galway city centre.
Duncairn, Kingston Road - sold €600,000
A substantial three bed detached property, originally constructed in 1954, located on Kingston Road overlooking Galway Bay Golf Club greenways and boasting views of Galway Bay and the Clare hills. This property offered excellent potential to create a magnificent family home close to several popular outdoor landmarks such as Blackrock Diving Tower, Salthill Promenade, Silverstrand, Cappagh Park and Barna Woods.
Clybaun Court - sold €470,000
An excellent four bed semidetached home located in the popular Clybaun Court development in Knocknacarra. This is a sought-after residential development with well-maintained communal spaced and a friendly environment due to the cul-de-sac setting. The property benefited from easy access to an abundance of local amenities such as quality schools, local stores and within walking distance of retail parks.
Carragh Grove - sold €752,000
A four/five bed detached home that offered a family friendly environment and large communal green spaces within the Carragh Grove development. This property had ample living space over two storeys. The area avails of several popular Galway landmarks such as Salthill village, Promenade and Blackrock Diving Tower.
Sylvan Drive, Newcastle - sold €475,000
A beautiful five/six bed residence superbly located built in 1972 by O’Malley Construction, this was a wonderful family home in Fairlands Park. Located only a short stroll from the University of Galway and UHG while also being close to the N59 allowing easy access to the beautiful seaside towns and villages of Connemara.
Asca Beag, Rahoon Road - sold €500,000
A spacious four bed residence located in the Asca Beag development just off the Rahoon Road in Galway city. This was a large detached home in good condition. The area offered a quiet rural feel with all amenities and services close by, being ideally located between Knocknacarra and Rahoon.
Cruachan Park, Rahoon - sold €490,000
A large five bed detached residence in a cul-de-sac setting of a popular residential estate just off the old Rahoon Road. Cruachan Park is a popular residential area with ample communal green space and family friendly atmosphere. This property was superbly located within moments of Westside Shopping Centre, University of Galway, UHG and several primary and secondary schools.
The Maples - sold €440,000
A well proportioned mid-terrace residence that was superbly located in a much sought-after cul-de-sac setting just off Dr Mannix Road. Located in Salthill, it had several popular landmarks on its doorstep including Salthill village and promenade, Blackrock Diving Tower, and the vibrant Latin Quarter.
Renmore Road, Renmore - sold €487,000
A four bed detached residence that offered excellent potential. Situated on a large site with plentiful green space at the front and rear. This property was in a family-friendly location with facilities nearby such as Liam Mellows GAA Club, Kingfisher Leisure Club and Ballyloughane Beach.
Suan Tra, Salthill - sold €420,000
An excellent two bed apartment with uninterrupted views of the Promenade and Salthill. Suan Tra is close to several popular landmarks including the Promenade and Blackrock Diving Tower, and within walking distance of the popular West End and the vibrant Latin Quarter.
O’Donnellan & Joyce auctioneers continues to be a leading estate agent in private treaty sales in Galway city and county. For more than 40 years, the company has been successful due to a strong work environment, good local knowledge and continuing to adapt to an ever changing industry. This combination has resulted in exceeding 20 per cent of the market share over the course of the year and selling in excess of 250 residential properties via its private treaty sales department.
Expectations for 2024 remain high. External factors, such as rise in inflation and interest rates, will continue to affect market conditions, however the trend of demand outstripping supply is expected to continue.
