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Wednesday, 13 September 2006

The Property Market in Ballinasloe has shown a steady increase in both price and supply over the past number of years, However in the past 18 months the rate of increase has accelerated due to local demand and inward investment attracted by the obvious value for money available in the town.

Current prices analysis of the property market shows 3 Bedroom Bungalows available from ?200,000, with 3 Bedroom Semi detached and 4 Bedroom Detached Houses available from ?220,000 and ?260,000 respectively.

The rental market is buoyant with an obvious excess of demand of over supply.? However 2 Bedroom apartments are still available from ?520.00 per month.

The commercial renal market also remains strong. ?The shortage of new properties coming onto the market ensures very high yields when they do become available and this factor is also reflected in the high prices being achieved by commercial properties when they are offered for sale.

With the numerous new Developments evident in the town, including the Shear Water Plaza and Dunlo Centre near to completion, and an number of other large developments in the pipeline there is no doubt that significant capital appreciation will continue to occur in the short to medium term.

The following is a sample of average new house prices currently on offer on the town:
3 bed detached bungalow: - ?200,000 - ?240,000.
4 bed detached: - ?220,000- ?260,000.
4 bed semi-detached: - ?155,000- ?180,000.
5 bed detached: - ?265,000- ?330,000.

A sample of second hand prices currently on offer in the town:
3 bed some detached ?125,000- ?135,000.
4 bed detached ?140,000- ?190,000.
4 bed semi-detached ?135,000- ?165,000.
Period Houses - ?400,000

For those that prefer country living, a superb choice of sites and houses in rural settings in surrounding villages, convenient to Ballinasloe are also available. Average house prices are:
3 bed bungalow on 1 acre ?100,000.
4 bed detached bungalow ?140,000 - ?190,000.
4 bed dormer bungalow ?150,000 - ?200,000.

A wide range of properties including townhouses and apartments are available for letting.
Average rents are:
3 bed House: ?550- ?600 per month
2 bed apartment: ?110-135 per week.
2 bed townhouse: ?120-140 per week.
4 bed house: ?600-750 per week.

Service Charges: A weekly domestic refuse collection service is provided in the town by a private company.

The annual cost for this service in 2003 is: 120 Litre Bin - ?125?and 240 Litre Bin - ?209.

The information as outlined is courtesy of all Auctioneers and Valuers in Ballinasloe and is based on properties on the market on date of going to press and is intended as a guideline only. Full details and listings are available from any local auctioneers.

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