Thursday 17 August 2017

Country houses on the market to remain low

Supply of large country properties will remain low with few new properties coming to the market until late Spring. As a result there is a shortage of good quality country houses on the market at present, according to estate agent Peter Kenny in the latest issue of the Colliers Jackson-Stops news bulletin.

He reports that viewing activity increased towards the end of 2009 as prospective buyers sought to take advantage of the lower prices. "However the majority of them . . . were finding it difficult to secure mortgage approval . . . also due to a lack of quality properties on the market they found choice to be very limited," he added.

He also believes that a low supply of 'suitable' city houses has pushed willing buyers into the short-term rental market.

He expects the country house rental market demand to remain strong, resulting in a stable market and a levelling off of rents.

Irish Independent

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