Wexford: Gorey still a hotspot despite lack of supply
Buyers in Wexford are only beginning to come to terms with the effects of the shortage in the country which has prevented many from buying in their sought-after towns.
Agent Ciara Slattery of Warren Estates believes buyers in Wexford are going to have to broaden their expectations and be more flexible on what and where they want to buy in 2017. "Houses in Gorey are always very sought- after," says Slattery. "It wasn't as badly hit by the recession as other towns, and the opening of the motorway has certainly added to its popularity. Unfortunately, though, supply is low in Gorey so buyers may have to think about moving out further or lowering their expectations on house types."
There were a few new developments built in Gorey in 2016. These were A-rated houses with a sale price of €225,000 for a three-bed semi. Slattery says that traditionally this house type would have sold for €150,000 so, while the builders are catering for the first-time buyer with the house type, it's not many who can manage the higher price.
Last year was a busy year for houses under €250,000, but Slattery noticed that once you went over that mark, things started to quieten down. While Gorey saw rises in most categories in the last 12 months, prices remained static for certain house types in other parts of the county.
There were a few exceptional sales, like that of No 1 Roney Beach, a plush holiday home just outside Gorey. It was guiding at €450,000 and sold for €550,000.
"The holiday-home market recovered well in the past 12 months after a few poor years," says Slattery. "Most holiday home-buyers in Wexford come from Dublin, Kildare and Wicklow, so we haven't really felt any impact from Brexit."
There was an average increase in prices in 2016 of 6pc in Wexford, with some categories, like apartments, seeing bigger rises. Slattery believes prices will rise by about 5pc this year, with Gorey still being the county's hotspot.