‘Mini-boom’ in property

Bray People - - INSIDE BUSINESS -

PROPERTY IN Wick­low has ex­pe­ri­enced a ‘mini­boom’ this year as the mar­ket continues to show signs of resur­gence, ac­cord­ing to the Real Es­tate Al­liance (REA).

A sur­vey of 48 REA mem­bers across Ire­land con­firmed an an­nual price rise of 6.2% that was even more pro­nounced in County Wick­low, with es­tate agents in Bless­ing­ton see­ing prices up 20% on last year.

Fur­ther­more, the num­ber of view­ers of property has nearly dou­bled, from seven on aver­age last year to 13 in 2014, im­ply­ing that de­mand for property is once again in­creas­ing. This is fur­ther cor­rob­o­rated by the fall­ing time it takes for a sale to be agreed, from an aver­age of 14 weeks in 2013 to ten weeks this year.

As of March, Wick­low was among the coun­ties with the high­est price in­crease (15 - 20%), leading the REA to con­clude that a three tiered re­gional property mar­ket is now emerg­ing in Ire­land, with Dublin at the pin­na­cle (in terms of most ex­pen­sive) fol­lowed by Wick­low and other pre­dom­i­nantly ur­ban ar­eas such as Kil­dare, Meath, South Louth, Galway City and Cork City, fol­lowed in turn by the more ru­ral parts of the coun­try.

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