Saturday 18 November 2017

Appetite for coastal semis sees Wicklow South make tentative first steps from bottom of market

The Beeches 7 Enniskerry
The Beeches 7 Enniskerry

WICKLOW SOUTH

Wicklow Town, Arklow, Aughrim, Rathnew, Carnew, Shillelagh, Tinahely, Baltinglas

No Change

One Year Forecast: Up 5%

Average:€155,000

Assessing Agent: Sherry FitzGerald Myles Doyle.

The Market:

Confidence has recently returned to the south Wicklow property market but it's still fragile, says Breda Bermingham of Sherry FitzGerald Myles Doyle, who saw falling prices in the first half of last year erased by rising values in the second half.

The east and coastal side of the county was most in demand and the market was most lively with a particular appetite for three- and four-bed semis in Arklow, Wicklow Town and Rathnew. Further inland, the appetite for property continued to be sluggish.

The development of wireless broadband and improvement of the N11 and the rail and bus networks have provided an incentive for boom-era first-time buyers and commuters to the capital to stay put rather than move back closer to Dublin as might be expected.

These are now trading up in the coastal towns rather than moving back to the capital as would be expected.

As prices lifted off bottom, a mix of buyers moved in to include first timers, cash-rich families who sold at the height of the boom and rented in the meantime. There has been a re-emergence of investors and there is also some interest from the UK, the USA and even Asia, largely from the Irish disapora eager to get in at the bottom.

Even apartments are now in some demand – most of the stock is generous in size compared to the smaller units built in Dublin.

As elsewhere, there are a high proportion of cash buyers. Sales typically take between two and three months to close, but if there are any problems at all with a title, they will not close at all.

However, very large properties have not been in demand with many now seeking to downsize.

Prices in the better coastal towns could hike by 12% this year.

The Prices:

2-bed apartment:

Jan 2013: €80,000

Jan 2014: €80,000

Jan 2015: €84,000

2-bed terrace:

Jan 2013: €85,000

Jan 2014: €85,000

Jan 2015: €89,000

3-bed terrace:

Jan 2013: €90,000

Jan 2014: €90,000

Jan 2015: €95,000

Ex-corporation 3-bed:

Jan 2013: €70,000

Jan 2014: €70,000

Jan 2015: €74,000

3-bed semi in town:

Jan 2013: €90,000

Jan 2014: €90,000

Jan 2015: €95,000

4-bed estate house in town:

Jan 2013: €165,000

Jan 2014: €165,000

Jan 2015: €173,000

3-bed bungalow outskirts of town:

Jan 2013: €170,000

Jan 2014: €170,000

Jan 2015: €179,000

4-bed bungalow out of town:

Jan 2013: €210,000

Jan 2014: €210,000

Jan 2015: €220,000

Holiday home:

Jan 2013: €130,000

Jan 2014: €130,000

Jan 2015: €137,000

Irish Independent

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