Post Covid-19! Your Enniscorthy Property Market UpdateJune 12, 2020
So I have decided to try and give a regular update on the Enniscorthy property market. Usually it’s national property update that you often read so my hope is to keep it more local based, hopefully keeping you updated each month.
No doubt the elephant in the room is the recent covid-19 crises and the negative impact on the property market. Sales are significantly down with viewings being reduced to our virtual viewings through our virtual walkthroughs. This will probably be a factor for home buyers into the future requesting virtual walkthroughs before they view, something we offer through Sherry FitzGerald O’Leary Kinsella. While viewings might be down because of this, it also means that viewers will be better informed before they view. You can check out one of our examples here.
Now for the statistics in Enniscorthy. In May 2019 there was 22 sales in the Enniscorthy area while compared to May this year, there was 10 sales. While the figure is half, this is still pretty impressive considering there was nearly no viewings taking place.
With regards to prices of property, the most sought after property is still the 3 bed semi, this has remained relatively steady in the Enniscorthy area with a prices still between €150,000 to €165,000 depending on the estate you buy in. We have been lucky enough where we have sale agreed two 3 bed semis above the €165,000 in May in The Orchard and Madeira Woods. We have also sale agreed a number of properties that have been on the market for a considerable period which shows that buyers are still there. Most sales in the month of May were in the €100,000 to €150,000 (see graph below) accounting for 50% of all properties sold. Nationally Daft.ie reported on the 5th June, that house prices rose by 3.7% from the previous month April, no doubt due to some reduced prices in the middle of the covid-19 crises.
As we opened at the start of the week post covid-19, there has been a significant amount of interest in properties with the first three days full for viewings, with 10 viewings in total booked when comparing to last year there was only 3. While nationally there are some reports of prices being expected to be reduced, we have not seen that in Enniscorthy where prices have been holding steady, no doubt the reason being that Enniscorthy still offers housing at a very affordable level.
A feature going forward is that sellers will need to be aware of is that purchasers especially from the Dublin area have now realised that they can work from home and will be looking for that all important broadband speed. We have noticed during the last few weeks that the first question that buyers ask is what is the broadband speed?
I hope this has giving you a little information on the local market for any of you thinking of buying in the next short period and I’ll try and give an update each month where the market is currently at.
Sherry FitzGerald O’Leary Kinsella