Saturday 25 February 2017

Shortage of new homes on market



IN A WEEK that a planning application for 206 houses in Gorey was lodged with Wexford County Council, it has emerged that Gorey faces a shortage of new housing stock.

An application of a size not seen in the town since the height of the building boom was lodged by the Receiver for Cleary and Doyle Ltd seeking permission to build 206 houses in Clonattin Village in Gorey.

Industry sources around Gorey have commented that the plan could simply be a way of preserving the value of the land. However, it keeps open the possibility that work could restart at the expansive housing development on the outskirts of Gorey, especially in light of the dwindling numbers of new houses available locally. FROM PAGE 1

When asked to comment on the availability of new housing in Gorey this week, James Kinsella of Sherry Fitzgerald O'Leary Kinsella said that only a handful of new houses remain to be sold.

'The new housing market is starting to dry up,' he said. 'The supply of new homes, and indeed second hand homes at realistic prices, is conservative in Gorey at the moment. Our challenge is the lack of stock at a realistic price. Anything that comes in the door that is priced realistically, goes out the door quickly.'

He said there's one house available in Meadowgate, while Pearson's Brook is sold out, while he knows of just a few houses in Ramsgate Village and Clonattin Village.

'If you come in to Gorey town looking to buy a house, you have almost no choice,' he stated. 'The demand has increased steadily in the last few months. If there's a supply shortage, it's going to be a problem later in the year and it might even push up prices.'

He said he met with several builders last week who said they would start building later this year on existing planning permissions. 'It would be great to see some building again, even on a small scale,' said Mr Kinsella.

Asked about the latest large planning application he said 'I'd say they are trying to maximise the value of the land but there's no point applying for permission unless there is a market for it, and I would agree there certainly is. The problem up to now has been that the value of property has been below the cost of construction but with changes in supply and demand, the process will come back to an economic level and it will pay a builder to break ground and start building again.'

A Receiver was appointed to the property development company Cleary and Doyle Ltd. in December 2011.

Three applications were lodged with the Council this month. The first is for the change of use of a substantially completed two storey building from a creche to community use.

The main application was for the demolition of an existing dwelling, structures, and the removal of a partially completed on site sewage treatment plant, to facilitate the construction of 206 dwellings comprising a mix of terraced semi-detached and detached houses. The development would include 48 three-bedroom houses and 158 four-bedroom houses.

The Receiver has also applied for the provision of playing fields/sports pitches and ancillary clubhouse facilities, vehicular access and on site car parking on a site measuring approx 2.08 hectares.

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