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Up, up, up…to almost €200,000 a house

 

 

Four-bedroomed houses in Roscommon are now averaging almost €200,000, according to new survey…

 

The average price for a four-bedroomed house in County Roscommon in the second half of 2017 was €196,667.

  The average price of a three-bedroomed semi-detached residence in the county over the same period was €128,334.

  These figures are contained in the latest Residential Property Price Barometer provided by the (IPAV) Institute of Professional Auctioneers & Valuers.

  According to the figures, Sligo experienced the fastest pace of growth in the second half of 2017 with a 25.26pc increase over the year, bringing the price of a 3-bed semi there to €145,000.

  Outside of Dublin, 12 counties experienced double digit growth in the second half of the year. The pace of growth slowed considerably in a number of Dublin areas, including Dublin 3 and 4 but five areas – Dublin 1, 2,6,7 and 9 saw double digit growth.

  In Dublin, the price of a 3-bed semi now varies from €290,000 in Dublin 24 to almost 3.5 times that in Dublin 4 at €987,000. In Cork city the price is €273,000 and Galway City €268,000. In terms of the Dublin commuter belt, Kildare is growing at the fastest pace, way ahead of other commuter counties at 16.7pc in the second half of 2017. This brings the average price of a 3-bed semi in the county to €280,000.

  Commenting on the figures, Pat Davitt, Chief Executive of IPA said that economic growth spreading to the regions would appear to be responsible for the faster pace of growth in house prices for the second half of 2017.

  He added however that much of the growth is coming from a low base, with many properties still selling for less than the cost of building them.

  Mr. Davitt added: “In overall terms the lack of supply remains the biggest problem. Latest data from Goodbody indicates that last year a mere 9,513 new homes were issued with a Building Energy Rating, a better indication of new builds than ESB connections. While up 77pc on the previous year it is appallingly low with demand estimated to be running at about 40,000 homes a year.”

  He said with the new Home Building Finance Ireland agency, which will administer a loan fund of €750m for builders/developers, not due to begin operations until later this year the supply figures will remain “very challenging”.

  He warned that the interest rate applicable on the loans would be critical. “If it’s the mooted 8pc then it will be too high for many SME builders, and may only facilitate those who are already in a position to build in any event.” 

  Mr. Davitt also said that IPAV’s Residential Property Price Barometer would indicate that, contrary to some commentary, increased supply does help taper house price growth.

  “The low rates of price increase for 2-bed apartments and 4-bed semis in South Dublin where new developments have come on stream certainly support that,” he said.

  “In addition official data on the detailed costs of construction would help in the event of profiteering beginning to emerge. 

  “It’s regrettable that although promised since July 2016 it has not emerged to date,” he concluded.

 

Two worth a view!

 

 

Hughes & Company have this week offered for sale at Ballintubber, Co. Roscommon, an attractive four-bedroomed dormer bungalow on a large site. The residence is in excellent condition and located only a short distance from the village of Ballintubber. 

  Pat Hughes is also confirming that they have placed on the market a site at The Walk, Roscommon with full planning permission. Pat is confirming that this is an excellent site located in a much sought after area. The site is ready to go.

  For further information or to make an appointment to view, contact the office on 090-6627003 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Prime Kiltoom residence for sale

 

David Diffley, MIPAV, TRV, of Property Partners Earley, Roscommon is this week offering new to the market a quality four-bedroomed two-storey residence of c. 1,470 located at Ardmullen, Kiltoom, Athlone, Co. Roscommon. Price guide: €150,000 ono to sell.

  David describes the property as “an impressive residence standing on a site area of c. 1.5 acres which has been substantially renovated in recent times”.  

  Standing to the side of the residence is a 5-bay storage shed.

  The auctioneers now invite immediate enquiries and all offers in the region of €150,000 for immediate sale.

  For further details/to arrange a viewing, contact David Diffley, MIPAV, TRV, of Property Partners Earley, Roscommon on 090-6626579 or email This email address is being protected from spambots. You need JavaScript enabled to view it. or log onto www.propertypartners.ie.

 

 

 

 

 

 

Urgent call for more lands

 

 

One of the best-known auctioneers in the region has issued an appeal for more lands to rent and lease.

  Hughes & Company say they’ve had a number of enquiries in recent weeks and are on the look-out or more lands.

  Pat Hughes said that demand this year seems to be greater than ever before. They have been successful in leasing land already at a record rate of €260 per acre.

  Pat said: “Land is averaging €200 to €220 freely. There is a huge demand from young farmers at present”.

  Currently on their books at Araghty, Athleague are circa 26 acres of top quality land. The lands are located less than one mile from the village of Athleague and are divided by a road, leaving them suitable for development.

  Readers can call 090-6627003 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Rents in Roscommon rise by over 8%

 

Rents rose nationwide by an average of 10.4% in the year to December 2017, according to the latest quarterly Rental Report by Daft.ie.

  The average monthly rent nationwide during the final quarter of 2017 was €1,227, the seventh quarter in a row a new all-time high has been set.

  The annual rate of inflation represents a slowdown in inflation from the rate recorded in 2016 (13.5%), which was the largest annual increase on record.



  In Roscommon, rents were on average 8.4% higher in the final three months of 2017 than a year previously. The average advertised rent is now €625, up 27% from its lowest point.

  In Dublin, the increase in rents in the year to December 2017 was 10.9% and rents in the Capital are now 26%, or almost €380 a month (€4,500 a year), higher than their previous peak in 2008.

  Most of the other major cities saw similar changes in rents during 2017. In Galway and Waterford cities, rents rose by a little over 12% during the year, while in Limerick city, rents rose by 14.8%. In Cork, the increase in rents was 7.7%, while outside the five main cities, rents rose by 9.8%.

  There were 3,143 properties available to rent nationwide on February 1st. This is the lowest number ever recorded for this time of year since the series started in 2006, and the figure marks a 15% decrease on the same date a year previously.

News and Views - February 9th

 

Unique, award-winning property!

On the books of Oates Auctioneers, Church Street, Roscommon is this unique three-bedroomed property located two miles from Roscommon Town in a sought after residential area. It’s located at Derrane, Roxboro, and boasts award-winning gardens.

  The house comprises entrance hallway, sitting room, kitchen/dining room utility along with three  bedrooms and a family bathroom. 

  The property is well presented with a dual central heating system and tastefully decorated throughout. The grounds extend to one acre and the gardens are majestic.

  The property has won various national awards, and comprised numerous individual walks and gardens together with traditional out-houses.

  It is seldom that a property of this calibre comes to the market and the auctioneer invites viewings. Contact Oates Auctioneers, Church Street, Roscommon town, Co. Roscommon on 090-6627878, email This email address is being protected from spambots. You need JavaScript enabled to view it.

‘Unique business opportunity’

REA Seamus Carthy is offering a unique business opportunity to acquire a fully fitted barber shop.

  ‘Figaro’s’ occupies a premium trading position on Castlerea’s main street and is a high profile retail unit in the centre of the town.

  This shop unit is fitted out to the highest standard and is in turnkey condition throughout. It has an extensive, established and loyal customer base.

  REA Seamus Carthy now invite immediate enquiries on 090-6630001 (or email This email address is being protected from spambots. You need JavaScript enabled to view it.).

Just two of these prime retail/office properties remaining

John Earley, FIPAV, of Property Partners Earley, Roscommon is this week inviting final offers above €50,000 each for the last two remaining prime retail/office properties of c. 2,100 sq.ft. each located at Castleview Terrace, off Castle Street, Roscommon town, Co. Roscommon.

  John Earley says these are “primely located commercial units with the benefit of substantial car parking facilities and spacious accommodation to suit either office or retail purposes”.

  Each property comprises of c. 1,050 sq.ft. on the ground floor and c. 1,050 sq.ft. on the 1st floor. The properties can easily be modified to be used as one overall unit.

  The auctioneers now invite immediate enquiries and final offers over €50,000 for immediate sale.

  For further details contact John Earley, FIPAV, Property Partners Earley, Stone Court, The Square, Roscommon on 090-6626579, email This email address is being protected from spambots. You need JavaScript enabled to view it. or log onto www.propertypartners.ie.

 

 

 

 

Affordable and on our doorstep…luxury homes in enchanting setting

 

 

Imagine owning a townhouse/holiday home in the grounds of a majestic castle! Not only is it an option at a very affordable price, it’s also an option here in County Roscommon!

  Kilronan Castle, located just outside Ballyfarnon in North Roscommon, is one of the most celebrated and sought after venues in Ireland.

  The magical castle and grounds is the fabulous setting for the Carolans Court development, where there are now just three remaining residences available.

  No doubt reflecting the more testing economic climate of recent times, these delightful townhouses are very attractively priced.

  The Carolans Court development is located in a secluded corner of the grounds of Kilronan Castle Estate, on the banks of the enchanting Lough Meelagh.

  Set on c. 40 acres featuring breathtaking scenery and with a world class health spa only a five-minute stroll away, each spacious property has been carefully designed for modern-day living and comfort.

  Whether as an investment, a holiday home or for a weekend escape, you can indulge yourself in some of the most unspoilt countryside in Ireland, and without feeling isolated!

  There are just three remaining properties available at this exclusive development. These include a three-bedroomed residence available for €109,500 and a mid-terrace four-bedroomed residence for €125,000.  

  Sale of a semi-detached showhouse has recently been agreed (for €135,000) and auctioneer David Diffley points out that this showhouse can be replicated in the ‘finish’ on other properties in the development.

  Each spacious property overlooks rolling gardens which extend onto dozens of acres of manicured grounds and natural lakeside woodlands.

  The properties have many special features, including: Gas-fired central heating system; state-of-the-art fitted kitchen; feature fireplace; double-glazed Scandinavian pine windows; hardwood front and back door; fitted wardrobes in two bedrooms; quality tiling in the bathroom and en-suite; pumped electric shower in en-suite.

  If you purchase one of these properties, you will receive two years’ free membership of Kilronan Castle’s world class leisure centre.

  Auctioneer David Diffley told People Property: “This is truly a once in a lifetime opportunity to purchase a piece of countryside bliss!”

* To arrange a viewing, contact Property Partners Earley, Roscommon on 090-6626579 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Earley’s Sale of the week

 

Property Partners Earley, Roscommon are this week pleased to advise that they have agreed the sale of the stunning showhouse property located at number 51, Castlemanor, Roscommon town for a “very satisfactory” price.

  John Earley commented: “We have had significant interest in the development with sale of the showhouse now having been agreed for a very satisfactory price. Two further properties are being developed out to a similar standard and we now invite immediate enquiries and all offers for same.

  “The Government’s ‘Help To Buy Scheme’ for 1st time buyers will give a rebate of income tax of 5% of the purchase price at Castlemanor”.

  The Castlemanor development offers a spacious residential location convenient to Roscommon town on the Racecourse Road.

  For further details, please contact John or David at Property Partners Earley, Roscommon on 090-6626579 or email This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Five minutes with…Pat Hughes

 

 

‘People can’t get planning permission on their own land…this is very unfair’

Pat, how long are you in the auctioneering business? 

This year we are celebrating 25 years in business. The company was originally set up in 1924 by Patrick Hughes & Patrick Naughton, Ballygar. In the mid-1940’s Hughes & Company took over the office from William Black, Roscommon and opened an office in Roscommon town under the management of the late Jimmy Finn.

  In 1947 the late Sean Naughton, Mount Talbot, took over the running of the company. In 1951 Hughes & Co. acquired the auctioneering business from Frank Maguire Auctioneers. On 19th of November 1993 I took over the company and opened our new offices at Abbey Street, Roscommon where we are today.

How much and in what ways has the business changed or evolved over the years?

There has been ups and downs. Property seemed to go in 7 to 10 year cycles over the years but from 1994 it seemed to be on an upward trend until the crash in 2008. We are now seeing an increase again but on a much slower scale in the west. Dublin appears to be back where it was but it hasn’t passed the M50 as of yet!

How do you see the future for Roscommon town and county? 

Demand for property seems to be increasing over the last number of months. Already this year there seems to be more of a buzz. Houses are scarce in Roscommon as there is very little building going on at present. You can still buy a house cheaper than you can build and while this trend continues builders will not build. It is impossible for people to get planning permission on their own lands in rural areas. This to me is very unfair and needs to be looked at.

Are there any steps you feel Government/local authorities could take to help your industry?

I feel the Government should bring in a tax incentive for people with old and derelict houses to encourage them to do them up. The number of vacant and abandoned houses throughout the county is frightening. I think if there was an incentive for any money spent on these buildings – leaving them habitable – that could be written off against tax on a rental income, it would encourage these owners to do up these dwellings and would certainly reduce this homeless situation that we have at the moment.

What do you enjoy most about your business? 

The buzz of meeting people, doing deals and seeing progress in our town and county.

What is the outlook for 2018? 

I would be very hopeful that things will continue to improve and that banks will start to lend to young people who need to get on the property ladder.

Your farm machinery auctions are renowned! Will there be more this year? Any other auctions or big sales we need to keep an eye out for?

There are a lot on enquiries again this year about our Machinery Auction. We are hoping to hold it in May.

  In August/September of this year we will be bringing one of the finest farms to come on the market in recent years to market. This is a 130-acre residential farm in Curraghboy village. All of the lands are of top quality. I expect this to draw huge interest due to its location and the quality of the land.  

  At this stage we expect to have a number of other farms on the market in the coming months. Further details to follow in the near future.

Interview: Paul Healy

 

Upcoming REA Connaught Auction

 

 

REA Seamus Carthy are hosting an REA Connaught Auction on the 28th of February 2018 (more details in future editions).

  There are a number of interesting properties already confirmed.

  They include a traditional detached two-bedroomed country cottage with detached outbuilding on 0.18 hectares which is at Driney East, Loughglynn, Co. Roscommon. It represents excellent value with a guide price of just €30,000.

  Also for auction will be a quaint one-bedroomed cottage located at Buckhill, Fairymount. Guide price: €32,000.

  At Raheen, Elphin, Co. Roscommon and also for auction on the 28th is a three-bedroomed traditional bungalow. Guide price: €23,000.

  For further information contact REA Seamus Carthy at 090-6630001 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 

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