‘Mini-boom’ in property

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.