Friday 20 September 2019

Wexford: N11 extension lures Dublin commuters

Average price: €140,000
Areas: Wexford Town, Gorey, Enniscorthy, New Ross, Bunclody, Carnew, Blackwater, Courtown
Up: + 9%
One Year Forecast: + 5%
Assessing Agent: Warren Estates

Gorey-based agent Ciara Slattery saw a good volume of sales and transactions in the Wexford market during 2014.

After a bad year in 2013, she says that the market is much improved.

45 Gorey Hill, Gorey, County Wexford, sold in July 2013 for €151,000 and again in November 2014 for €158,500.
45 Gorey Hill, Gorey, County Wexford, sold in July 2013 for €151,000 and again in November 2014 for €158,500.

"Prices are creeping up slowly across the board, and every now and then we are able to secure a very strong price when there is a particular demand for a certain type of property in short supply.

"At the moment there is excellent demand for property in Gorey town, and for good quality family homes within a five-mile radius of the town centre."

Wexford
House Types201420152016
3-bed semi in town, €115,000 €125,000 €131,500
4-bed semi in town, €170,000 €185,000 €194,500
4-bed detached in town, €183,500 €200,000 €210,000
4-bed detached out of town, €247,500 €270,000 €283,500
3-bed bungalow in town, €200,000 €200,000 €210,000
3-bed bungalow outside town, €135,000 €150,000 €157,500
4-bed bungalow in town, €200,000 €200,000 €210,000
4-bed bungalow outside town, €150,000 €150,000 €157,500
"Detached 2,000+ sq ft", €257,000 €280,000 €294,000
1-bed apartment, €63,000 €63,000 €66,000
2-bed apartment, €85,000 €90,000 €94,500
2 up 2 down, €91,500 €100,000 €105,000
3-bed terrace, €85,000 €95,000 €100,000
Ex-corporation 3 bed, €95,000 €105,000 €110,500

Slattery says there is also demand for properties being sold by banks and receivers, which may not be in good condition.

"Some people are looking for a bargain which represents value because it needs money spent on it; something that they can finish over time, and put their own stamp on it.

GOREY: Town property in Gorey is much in demand, thanks to the N11 extension due to open next year which will cut commuting time to Dublin by 10 minutes.
GOREY: Town property in Gorey is much in demand, thanks to the N11 extension due to open next year which will cut commuting time to Dublin by 10 minutes.

"At this price level they get a whole lot of house for their money."

Bungalows in towns are rare so the three and four beds tend to fetch the same price.

Having had a busy 2014, Slattery is predicting that there will be a shortage of property coming on stream in the Wexford market throughout this year.

"We sold a lot of stock in 2014, but I don't see the same volume of property materialising in the coming year.

"And when there's a shortage of quality property, prices will go up."

Many prospective purchasers in the Wexford market are people who work in Dublin.

Work on an extension to the N11 is already under way and Slattery predicts that interest in property with easy access to the new motorway will be much in demand.

 

 

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