Wexford House prices unaffected by Covid-19 lockdown

Although some experts are predicting house prices in the country to drop by as much as 12% in the next 18 months, the price of a three-bedroomed semi-detached house in Co Wexford was unchanged over the past three months, according to a national survey carried out by Real Estate Alliance.

However, the price of the average three-bed semi in the county has fallen by 1.3% to €192,500 in the past year, the survey found.

And having reopened earlier this month, agents in the county are reporting a large annual increase in enquiries since they resumed business.

‘We have seen a noticeable increase in enquiries from people in larger urban areas looking to relocate to the area as they have more flexible working practices,’ said Winston Halnon of REA Halnon McKenna, Gorey, where prices rose over the past year by 2.5% to €210,000.

‘The market has remained strong in north Wexford. All our sales that were agreed in the run up to lockdown have remained intact and without reduction, and we agreed a number of sales by virtual viewings during lockdown.

And Mr Halnon said that housing stock will play a part in any fluctation of prices in the coming months.

‘Lack of supply, which was the topic on everyone’s agenda just three months ago, will have worsened due to construction sites being closed,’ he said.

In Wexford town, prices for a three-bed semi have fallen by 5.4% to €175,000 over the past twelve months. But Robert McCormack of REA McCormack Corish said the coronavirus hadn’t necessarily impacted upon valuations as of yet.

‘There is no evidence of price decreases as yet, and the phones have been busy since we reopened the offices, with plenty of viewings taking place,’ he said.

Prices in both Gorey and Wexford town remained static this quarter, and the average time taken to sell rose from eight to nine weeks in Wexford town and remained at ten weeks in Gorey.

Across the country, despite fears of a downturn in the market due to lockdown, the price of a three-bedroomed semi-detached house fell by just -0.15% over the past three months to €234,667, an annual decline of -0.56%.