Appleton Residential Property Market Update, September 2021

Finally, we appear to be at the beginning of the end of the Covid restrictions, writes Austin Egan of Appleton Property. Traditionally, once the children return to school and the holiday season comes to an end, the market picks up steam for a few months towards Christmas.

Now we can see the effects of the pandemic on the housing market. Workplaces have changed. Many companies are moving toward a blended work model where staff will not need to attend the workplace everyday. As a consequence there is a lot more movement in the market. We are speaking to a higher number of people looking to move out of the city. Our location ticks a lot of boxes for those looking for a more interpersonal lifestyle for themselves and their families, yet remains within easy reach of the city for their less frequent commute.

We are also dealing with a lot of local enquiries from people looking to move to a more suitable dwelling within the general area, maybe looking for an extra room for a home office, or a larger garden or second living room. We are also dealing with a larger number of first time buyers. With accelerated savings from the pandemic many have entered the market sooner than expected. The number of investors in certain sectors has also increased as low bank deposit returns have pushed more investors towards bricks and mortar.

All of this increased demand has come about in a period of historic low supply. Prior to the pandemic we already had a housing supply issue. The suspensions of construction during the pandemic has slowed housing completions and further exacerbated the low supply levels.

These factors have inevitably led to a more competitive market and we have seen a rise in house prices in 2020 and 2021 after two preceding years of relatively flat house price inflation.  We expect demand in the market to remain strong. We expect the number of property listings to increase throughout September and October, as is traditionally the case.

For those looking to complete their move before Christmas, now is the time. As a first step we offer a free, no obligation, assessment of your home. We provide a comprehensive written valuation report free of charge. We are looking for properties for ready to go purchasers in all local areas. If you are thinking of selling please give us a call to arrange your free appraisal on 045 482 759, 087 131 1133 or email us at info@appleton.ie.

Austin Egan and Appleton Property are licensed by the PSRA, Lic Number 001344-004239. 

Austin is a member of the Institute of Professional Auctioneers and Valuers in Ireland, IPAV.

www.appleton.ie.

 

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