Pat O'Donovan, whose auction house on North Quay was one of the worst-hit premises in the floods, described the alarm as "very worthwhile", and said that the committee was seeking emergency contact numbers for residents and businesses in the area.

In the event of another dramatic rise in the River Arra's water level, the alarm, which is attached to the bridge on North Quay, will send a warning alert via text message.

The alarm was earmarked one of the key features in the repair works that have been ongoing in the town by the council and the Office of Public Works (OPW) over the past year.

It is expected that, once the committee has collected the necessary contact numbers and passed them on to the council, a test-run of the alarm will take place in conjunction with the council, the OPW and the flood committee.

Meanwhile, Mr O'Donovan said that the committee is also advising uninsured flood victims to contact one of the three local TDs for assistance in applying to the €10m flood relief fund, which was announced by the Minister for Social and Family Affairs, Mary Hanafin, in the wake of last year's serious nationwide flooding.

He told the Limerick Leader, however, that local flood victims were applying "out of hope more than anything", as "j10m won't go very far once they look after Cork and Galway".

Since the Newcastle West flooding took place, victims have not received compensation on any level.

Mr O'Donovan said that if serious flooding took place again, basic measures will have to be taken to minimise potential damage.

"Mary Stephenson, who passed away recently, was the treasurer of our group and always said that it was the trucks that kept passing up along her road that drove the flood water in through her door. If the roads had been closed off, and other simple steps had been taken, maybe some of the worst of it could have been avoidable," he said.