Wexford market still on an upward trend

THE WEXFORD property market is continuing on its upward trend for 2018, with steady increases being reported across the board from houses to commercial property, farm sites to development sites.

Edel Keane in Keane Auctioneers believes that the market is consistent now, remarking that they are busy all through the year rather than on a seasonal basis like before. People, she said, were both listing and buying properties right up to Christmas week now, a once traditionally quiet time for sales.

‘The main worry for people now is that they buy at the right time. For us, we find there’s not enough property. Prices are gradually increasing but markets are being driven down the country, out of Dublin. We’re seeing a lot of commuters and young families buying down here. It could be €250,000 for a house here; the same house is €850,000 in Dublin.’

Michael O’Leary, of Sherry Fitzgerald O’Leary in Enniscorthy, belived that Wexford prices were surging ahead, adding that the rest of Ireland was starting to catch up to commuter belt prices but it had taken longer for that to happen.

Again, the commuter was someone he was seeing more and more of: ‘People get displaced, they can’t afford to buy in Dublin and they move further away. The motorway is key to them, it makes it easier. People will travel if they can get what they want at the right price.’.

In New Ross, business is steady for John Radford at Sherry Fitzgerald Radford with good demand for property despite what he feels are somewhat limiting finance restrictions and a shortage of ‘the right stock in the right places’.

‘Generally speaking, anyone coming into us has finance in place. There are restrictions which are prudent but they are inhibiting people from trading up – 20% of the value is too high in those cases. If it went down to 10%, people could buy and it would free up the properties they’re vacating.’.

The investment in infrastructure, he said, was helping them in terms of sales, pointing out that they had properties that connected people to road networks to Waterford, Cork and Dublin. Up to 40% of their buyers, he said, were from outside Wexford.

Finally, Colum Murphy of Kehoe and Associates also reported a very busy summer amd an expected busy September. They had two new developments, he said, that were coming up for showhousing in Roxborough Manor and in Crosstown.

‘The new house market is certainly warming up with great quality houses that are all A-rated.’

He said there was also good interest in second hand residences, particularly town houses, as well as family homes. Their commercial sector was also very busy – he pointed to the Lobster Pot as one of their high profile properties at the moment. Other main street properties, he said, had been sold and were coming on stream soon. The old Boots’ store was currently being brought to the market and they expected strong interest in it.