PROPERTY GUIDE Availability and value in a changing market

2020 has started brightly for auctioneers across Co Wexford, with viewings up and increasing interest from the UK and from first time buyers.

The market for houses across the county is buoyant, according to John Kearney of Kearney & Co Property Sales & Letting.

John said after a quiet end to last year business has picked up rapidly. One factor is that the banks are lending and are offering attractive cash back deals on mortgages.

John said buying new builds with A-rated energy efficiencies is the best option for first time buyers. Three bed new builds are costing around €230,000 in Wexford town and with the heat pump technology and solar panels, they provide amazing efficiencies in the colder months.

He said with fibre broadband available and the Enniscorthy bypass open – combined with flexible work from home arrangements being offered by companies – more and more people will be commuting to Dublin two days a week and working from their third bedroom or living-room the other three days.

Interest from Dublin natives and English people after the Brexit deal was struck has also increased interest in Co Wexford as a place to buy a home, due, in no small part, to the fantastic quality of life the county has to offer.

‘There are still bargains to be had in Wexford town and we are looking forward to a busy year,’ John said.

New Ross based auctioneer John Radford of Sherry Fitzgerald Radford was equally optimistic about the year ahead, on the back of a positive 2019 which saw interest from UK buyers increase by 3 per cent.

John said it has been a very positive start to the year. ‘We have seen a lot of inward investment such as the auction for 22 apartments in New Ross in December. There were four bidders for the apartments at Priory Quay.’

Limited availability remains an issue in New Ross town, but there is excellent value still in the market, he said.

Some A-rated energy efficient homes are coming on the market at Castlehyde estate in Rosbercon.

‘They are NZEB A3 rated, the highest energy rating. These days people are more educated regarding heating standards. People are aware of the cost savings and will spend a bit more on an A-rated house as opposed to a second hand house.’

John said some commercial properties in New Ross will be coming on the market and there will be changes of ownership, adding that with the opening of the bypass and new bridge, he has never seen such optimism in New Ross in his 19 years in the town.

He said there are no silly asking prices and people are buying at the right price.

John Keane of Keane Auctioneers, Wexford, said he had a feeling it was going to be a good 2020 when the phones were hopping the day his office opened after the Christmas break on January 3.

John said the market has stabilised and levelled out. ‘There is a lot of demand from the UK. There is always value for money but there is a lack of supply in some areas. We have seven A-rated three-bed houses selling from between €230,000 and €240,000. We have good supply and we are doing a lot of mortgage valuations. The banks are lending so all in all it has been a very good start to the year.’

He said a lot of retired people from the UK are showing an interest in south Wexford, adding that his auctioneers advertises extensively in Britain through Rightmove.co.uk.

Interest from Meath and Kildare residents is another indication of a growing interest right across Co Wexford for home buyers.

‘You also have Dublin retired people and people commuting to Dublin. With the new road from Oilgate has made a huge difference.’

First-time buyers, both single people and couples, are looking at properties in increasing numbers.

‘There is a very good market here with a lot of availability. We have a fantastic supply at the moment and we are open seven days a week to facilitate people working and families.’

So with houses being built and a high demand the indications at the start of the 2020s is that it is going to be a busy decade for house purchases in Co Wexford.