Encouraging signs in Wicklow property market

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