Search Results for 'Help to Buy'

Ireland's housing crisis has become a moving crisis, and we must begin treating it as such. We rightly talk about new supply, affordability and the challenge facing younger buyers. But a healthy housing market does not work only by adding homes at one end. It also depends on people being able to move through it at every stage of life. Today, too many households are stuck because the right alternative does not exist. Movers hold the key to freeing up vast swathes of housing stock, but they are not being assisted or incentivised to move.

The new homes market in Galway city and county continues to be characterised by strong demand and constrained supply, particularly for modern energy-efficient housing. Demand from first-time buyers and families for A-rated homes has grown significantly, driven by rising energy costs, green mortgage incentives and a greater awareness of long-term sustainability.

Strong demand for new homes across Galway is continuing to outpace supply, with estate agents reporting intense interest from first-time buyers and families, particularly for energy-efficient homes, while delivery remains slow and uneven across the county.

There is almost unanimous agreement among the estate agents we spoke to on what is most important for first time buyers, and it can be summed up in two words: Finances and location.

There is welcome news in the housing market in Galway with the launch of Garraí na Gaoithe, an exceptional new homes scheme of stylish and contemporary two, three and four bedroom, A-rated houses. Located in the heart of Claregalway village, Garraí na Gaoithe, is set to bring 72 new, privately owned, houses to Claregalway with the first closings expected in early 2025.

The Galway property market is continuing to experience a significant shortage in supply, particularly impacting first-time buyers seeking homes in the city area. Local real estate agent Deirdre D’Arcy, of DNG Maxwell, Heaslip & Leonard sees first-hand the current challenges facing prospective homeowners. The growing demand for housing in Galway, coupled with limited supply, has created a competitive landscape, especially for those entering the market for the first time. "The lack of available properties in the city area is putting immense pressure on first-time buyers, many of whom are struggling to secure suitable homes within their budget," she said.

New figures from specialist later life lender Spry Finance show that the number of older people releasing equity from their own home to help their children get on the property ladder has increased significantly.

In the past 12 months, DNG Maxwell Heaslip and Leonard’s Residential Sales division had another promising and positive year, listing circa 230 properties across Galway city and county. With 92 per cent selling in the first four weeks of going to the market and over 60 per cent of them achieving figures above their initial guide prices, the residential property market in Galway continued to show a positive and steady growth.

The years of 2024 and 2025 are set to be an exciting and busy time for new Homes in Galway city and county.

The new homes section of O’Donnellan and Joyce have had a very successful year with five new developments offered for sale across the city and county in areas such as Knocknacarra, Moycullen, Oranmore, Kinvara, and Craughwell.