Galway Property Market

El_Dangeroso

Like most things on boards, this forum is a little Dublin-centric, makes sense considering most people live or are trying to live in and around the pale.

So I thought I'd start a thread for the Galway house-seekers, to discuss the fun of looking in Galway city and county.

Myself I've been half-heartedly looking for a year and then seriously mortgage-approved looking for the last 9 months.

Want something in the city preferably, but will consider further out. Not knocknacarrra because I work on the the east side of the city and knockers just seems like an endless suburb to me.

Asking prices in the city just seem bizarre at the moment. Very low stocks and very poor quality overall, rare to see a place that doesn't need at least 40K thrown at it to make it habitable. Mostly probate and ex-rental ratholes.

Holding out a bit more hope for the season when it starts going in March, the first O'DonnJoyce auction kicking off on the 4th March.

Anyone else care to share a war story or two?

Tuesday_Girl

Have you had any luck in the meantime?

I'm also mortgage-approved and looking to buy on the east side of Galway.

I agree stock is very low and quality is not great, I viewed a couple of ex-rentals and they were pretty grimy and would need a fair bit of work.

El_Dangeroso

Tuesday_Girl wrote: »

Have you had any luck in the meantime?

I'm also mortgage-approved and looking to buy on the east side of Galway.

I agree stock is very low and quality is not great, I viewed a couple of ex-rentals and they were pretty grimy and would need a fair bit of work.

Everywhere needs at least 20K put into it as far as I can see, even the relatively well-kept ex-rentals.

We're still looking. The lack of stock at the moment is shocking. But judging from the recent auctions a lot of stuff is not selling either.

Seems like there's a serious difference between buyer affordibility and vendor expectations right now.

I'm looking at city centre mostly. Where on the east have you considered? See a good few places coming up in Roscam at the moment.

Tuesday_Girl

Yeah I'm looking mainly in Roscam, a few have come up recently but mostly 4-beds and I'm looking for a 3-bed. One came up there this morning so I might have a look, although it seems pricey for what it is. A place I was bidding on last year a few doors up was bigger and nicer and didn't need any work and went for just 5k more so don't I think this one represents good value but maybe that's just the way prices have gone in the past year.

Also waiting to hear about the next phase of Reilean which is supposed to launch soon, not much info available on it yet although work does seem to have started on the site.

El_Dangeroso

I expect we'll see a lot more stock coming up after Easter (I hope) so I'm hanging on till then to see what's on offer.

I know it couldn't possibly be less than what's currently out there!

Tuesday_Girl

Yeah it's been a very slow start to the year but it has been slowly picking up in recent weeks so maybe after Easter we'll see some activity. I hope so too, been looking for a while now.

aw

Just chipping in to agree with you both.

Galway is undersupplied and expensive.

We're also looking on the east of the city, and would go a bit further out to Claregalway/Lackagh/Oranmore/Atheny too for the right house. All these places are expensive now too. Roscam is very overpriced for what it is.
Most houses on the market will need money spent on them after buying, be it on decor, insulation, kitchens or other general renovations.

El_Dangeroso, you're right about price expectations v actual value. I've been watching daft.ie etc and have seen one or two properties come off the market for a break, only to reappear at a lower price.

Difficult to see things improving in the short-term.
The supply just isn't there.

TeaBagMania

Im always checking the Ballyconneely area, crazy $$$

maudgonner

Howdy folks. Also looking in Galway, but on a tight budget

Unfortunately work is west of the city and that adds a serious premium from what I can see. There just really isn't any supply west of the Corrib. So I'm bracing myself for a long commute in cross-city traffic (or buy north of Headford and go anticlockwise around the lake )

Encouraged to hear that there may be more coming to the market after Easter. Athenry is my target at the moment, so fingers crossed for that!

TeaBagMania

Athenry is straight shot on the motorway, how’s that traffic in the morning?

Can’t be as bad as Los Angeles 0

aw

How have experiences been with auctioneers?

We've had a few interactions at this stage - mostly positive to be fair. After watching the market for a while, it's easy to pick up the different quirks (good and woeful) that the different agents have.

prq

I haven't gotten my approval in principle yet but I'm not sure I'll bother. Prices are crazy in Galway.

Take a look at daft and spot the houses that were being sold for, let's say, €200k for the last 6 months with no luck. And what happened? Price has gone UP to €220k or €230k! Makes total sense

farawaygrass

We're thinking of selling on the east side of galway......good location. Big house but ground works need finishing(kerbing, Tarmac-there is level gravel there at the moment). There is no garage but there is active planning for one. 4-5 big bedrooms, 2 ensuites. We can't move out for a few months thought untill we get our other place finished.
Just throwing it out there

aw

farawaygrass, can you give an indication of where the house is? Even a general area would help! And have you a price in mind? Happy to talk by PM, if you'd prefer rather than posting here.

muppetkiller

In the same boat here...Supply is non-existent
And I wouldn't mind but I moved home to save...now that I have saved up enough I cannot move out as the rental prices are scandalous too.

prq

muppetkiller wrote: »

In the same boat here...Supply is non-existent

Supply exists and is in the hands of NAMA, who is injecting their stock in the market slowly.

Apparently, too slowly. At least in Galway.

BryanF

prq wrote: »

Supply exists and is in the hands of NAMA, who is injecting their stock in the market slowly.

Apparently, too slowly. At least in Galway.

How many domestic properties do Nama actually have in Galway city /council ?

aw

BryanF wrote: »

How many domestic properties do Nama actually have in Galway city /council ?

Not a huge amount. Their influence is overstated. They are currently finishing one estate in Knocknacarra and I'm not sure if they are behind the other one in Roscam. These are the only large scale developments underway in Galway City right now.
Other than that, there are not any more ghosts estates and most of the properties NAMA have are commercial/industrial or the odd one off house here or there.

prq

aw wrote: »

Not a huge amount. Their influence is overstated. They are currently finishing one estate in Knocknacarra and I'm not sure if they are behind the other one in Roscam. These are the only large scale developments underway in Galway City right now.
Other than that, there are not any more ghosts estates and most of the properties NAMA have are commercial/industrial or the odd one off house here or there.

I was told otherwise by someone in the business. There were too many houses for sale a few years ago that can't all have "vanished".

snubbleste

prq wrote: »

I was told otherwise by someone in the business. There were too many houses for sale a few years ago that can't all have "vanished".

www.nama.ie/property/property-map/

El_Dangeroso

snubbleste wrote: »

www.nama.ie/property/property-map/

Super interesting, thanks for posting.

degzs

I have been watching the market in Galway city mostly the east-side of the city over the last few months and only see prices going up. I do not see things improving for a while (supply and demand).

Has anyone else see any changes over the last few months and are the houses going over asking prices ?

James Forde

Looking to buy myself and have had an interest in two properties, one in Roscam and the other in Doughiska.

Both 3 bed Semis.

Roscam was on the market at 240k current bid is 245k and looks like it will go up.

Doughiska was on the market at 218k went sale agreed at 231k.

Very little supply out there. Very frustrating.

degzs

James Forde wrote: »

Looking to buy myself and have had an interest in two properties, one in Roscam and the other in Doughiska.

Both 3 bed Semis.

Roscam was on the market at 240k current bid is 245k and looks like it will go up.

Doughiska was on the market at 218k went sale agreed at 231k.

Very little supply out there. Very frustrating.

How much are these house I wonder over their actual value?

I suppose its going to take a year or two before we see the supply leveling out.

Difficult situation to be in and not seeing anything changing in the near future.

James Forde

Take a look at the property register on Daft, it gives you a good idea.

IMO the two houses I mentioned above have gone about 10/15k above their actual value.

More houses need to be built - it's only going to get worse.

Tuesday_Girl

James Forde wrote: »

Looking to buy myself and have had an interest in two properties, one in Roscam and the other in Doughiska.

Both 3 bed Semis.

Roscam was on the market at 240k current bid is 245k and looks like it will go up.

Doughiska was on the market at 218k went sale agreed at 231k.

Very little supply out there. Very frustrating.

Think I viewed both of those you mention, didn't bid on either though. I know another one in Roscam which went for 20k above asking.

motley

What are people thinking about how the market is now? There seems to be less and less houses coming on the market especially at the lower end.

El_Dangeroso

motley wrote: »

What are people thinking about how the market is now? There seems to be less and less houses coming on the market especially at the lower end.

It's gonna be quiet in August until mid-September, it's like this every year.

makeorbrake

Prices ridiculous. They can keep them! Things go in cycles. Will wait for that cycle to turn round and keep cash in my pocket. That said, I'm not a FTB - I'd hate to be in the position of feeling compelled to buy around now.

Will put up with the long commute rather than pay above the odds. Galway is alright but it's not that special!

Woodbrook80

I'm looking to move back I'm in bray and looking to buy in loughrea area as that's were my family are not much there so maybe il wait or option is to build or lastly maybe take over my parents house with them there and do it up il see everybody goes on about Dublin but seems to be low supply all over the country

Tuesday_Girl

I did eventually find a place, getting ready to sign contracts and should be moving in the next few weeks. It was a slog but I'm glad to have a nice place in a good location.

Woodbrook80

Tuesday_Girl wrote: »

I did eventually find a place, getting ready to sign contracts and should be moving in the next few weeks. It was a slog but I'm glad to have a nice place in a good location.

Where u buy in the end congrats

Tuesday_Girl

I bought in Roscam, a 3-bed semi-detached

Faze11

Reviving this old thread. Currently looking in Roscam, very intereatwd Reilean. Anyone bought or looked at any of these. Amazing how much prices have moved even in the past 2 years.

Pickyourbrains

I feel like Roscam is ridiculously overpriced even though it's an area I've always liked, there has been a blast of council houses thrown in there the last few months which has devalued some houses which is making me wary. I am a cash buyer and feel like a year ago when I started looking I would have well been able to afford what I wanted if I found the right house,now I feel I've been priced out of the city by about 50k,claregalway is the dream but there is no supply out there and what there is is very dear, we are looking at Headford now ,the new estate Ashthorn Avenue
We viewed a house in Castleawn heights a few months ago and when I said to the estate agent (man in his 60s) ,that I thought it was very small for the price he said it is but the reason house prices are going up is because of stupid people paying stupid prices. I assume he was having a bad day but it always makes me laugh now when I think of it and makes me more bitter towards the property market 😂
Also don't know is this is some sort of Chinese whisper but I read the new thing is the agent doesn't take any offers on the house for a month in a hope to encourage a bidding war,anyone any experience of this?

Faze11

New development called Tuarin in Roscam. Anyone looking at these?