En­cour­ag­ing signs in Wick­low property mar­ket

Bray People - - PROPERTY MOVES -

THE PROPERTY MAR­KET in Wick­low is show­ing some good signs of im­prove­ment ac­cord­ing to Ciara Slat­tery from War­ren Es­tates in Gorey.

'The property mar­ket is good at the mo­ment. There are def­i­nitely en­cour­ag­ing signs for the res­i­den­tial property mar­ket with a strong level of sales in the sec­ond half of last year and this has con­tin­ued through to 2014. The mar­ket seems to have bot­tomed out and the re­cov­ery will be grad­ual. It is dif­fi­cult to pre­dict any great price in­creases just yet.

'There is great value at the mo­ment and with the poor re­turns in de­posit in­ter­est rates at the mo­ment people are look­ing to property again. Once prop­er­ties are priced re­al­is­ti­cally they are sell­ing and sell­ing well at the mo­ment. Con­fi­dence is com­ing back and hav­ing hes­i­tated for the last few years people are keen to buy again.

'The bet­ter lo­cated prop­er­ties whether in ur­ban or ru­ral ar­eas are in de­mand but must be re­al­is­ti­cally priced.

'Agri­cul­tural land in gen­eral across the 26 coun­ties has re­mained steady over the last 2 years even though the aver­age price fell in 2013 by €550 per acre or 5.6 per cent on the pre­vi­ous year. The na­tional aver­age price of agri­cul­tural land in 2013 was €9,400 per acre. In Wick­low the aver­age in 2013 was €10,749 per acre, in Wex­ford it was €11,468 per acre. Land let­tings have been av­er­ag­ing from €170 to €250 per acre for good land in this pe­riod also with some higher prices be­ing achieved but were the ex­cep­tion and were driven by en­ti­tle­ments.

'While there still isn't an ac­tive commercial sell­ing mar­ket provin­cially there has been a marked in­crease in the commercial rental mar­ket. This is par­tic­u­larly ev­i­dent in the re­tail mar­ket. We orig­i­nally leased 21 Main Street, Gorey in 2012. We have just re-let it to a new ten­ant and we were greatly heart­ened by the in­creased level in both qual­ity and quan­tity of view­ers.'

“Once prop­er­ties are priced re­al­is­ti­cally they are sell­ing well at the mo­ment”, says Ciara Slat­tery of War­ren Es­tates

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