The combination of particularly strong demand and limited supply is causing house prices to rise across Ireland. A prolonged shortage of properties on the market has resulted in prices rising by almost seven per cent in the year to June, the fastest rate of property price increases in almost three years. According to the Central Statistics Office (CSO ) prices have now risen for 10 months in a row.
The trend of working from home, along with the shortage of available properties, is causing this boom in prices. This trend looks set to continue for the foreseeable future, as rural areas are now significantly surpassing more urban areas with some regions seeing an almost 14 per cent increase.
Property auction specialists at IAM Sold have noted that, despite lockdowns and restrictions, inquiry levels on their properties have continued to be exceptionally strong over the last year. Shane May, sales manager for the Connacht Property Auction, commented: “With the high demand we are currently experiencing, now is a great time to market a property. We are finding competitive bidding on the vast amount of properties we offer for sale and have thousands of registered applicants currently looking to buy before the end of the year.”
The company is still the only auctioneer in Ireland which undertakes a print and online marketing campaign and does not charge any upfront costs to enter a property into its auctions. In addition, the IAM Sold group, which sells properties all over Ireland, Northern Ireland, and the UK, was confirmed as the largest auction provider in Ireland and the UK with more than 4,000 sales in the past 12 months.
An Pon da Rosa, Rossmore, Woodford, Galway
Offered at bids over €295,000 in partnership with Keary auctioneers.
This is a fine opportunity to acquire two dwellings with added studio on a large site idyllically located within walking distance of Rossmore Quay and the majestic Lough Derg. House 1, extending to 160sq m, is a tastefully renovated four bed stone farmhouse which was extended in 2000.
House 2, a two bed property extending to 75sq m, is a recently converted and extended stone stables, renovated in 2008.
The studio is another converted stone building and is currently used for storage but has two attic rooms along with an open plan kitchen/living room and bathroom.
Knockroe, Cloghans Hill, Tuam, Galway
Offered at bids over €239,000 in partnership with Tyrrell auctioneers.
A spacious four bed detached residence, standing on approximately three acres, offering excellent privacy and fine potential. This delightful property is ideally located on the main road adjoining Kilmaine/Tuam road, about 15 minutes from Tuam.
Priors Bar and Lounge, Ballinamore, Co Leitrim
Offered at bids over €330,000 in partnership with Gordon Hughes estate agents.
This renowned sports bar occupies a prominent position on the town's main thoroughfare. This iconic bar and restaurant is being offered for sale for the first time in almost 100 years and is in turnkey condition throughout. Enjoying a substantial turnover, this property would make an ideal family owned business or indeed investment opportunity with further potential to extend the catering facilities. The property lends itself to having a full restaurant on site as it currently offers only bar food, thereby offering potential to a chef who may wish to run his/her own restaurant/bar.
Contact The Connacht Property Auction on 091 882 121 to arrange for a free property valuation, or for more information visit www.connachtpropertyauction.ie The next auction dates are September 16 and October 21.
