Local property market update from Appleton Property
As January comes to an end, we are starting to see a very welcome stretch in the evenings and the end of a long two years of Covid restrictions, writes Austin Egan. Traditionally at this time of year, the property sales season begins in earnest.
It is widely known that residential property sales prices and residential rents have risen substantially during the pandemic. Accelerated savings, lower interest rates, hybrid work practices, people seeking to improve their homes or gain additional space for a home office have all contributed to increasing demand. However, the main driver of house price increases is the continuing historic low level of supply. While attempts are being made nationally to bridge the gap between supply and demand, it is likely that demand for housing will far outweigh supply for the foreseeable.
It is reported that property prices have risen nationally in the 12 months Dec 20 to Dec 21 by an average of 7.7%. Outside of the main cities the price rise is estimated by daft.ie to be 11.9%. On this basis, for example, a house valued at c. €268,000 in December 2020 would now be valued at c. €300,000. We have seen the prices rising throughout the year in our activity in Kilcullen, Calverstown, Narraghmore, Newbridge and Naas and surrounding country areas. In certain areas, and with certain house types this % increase has been higher. Buyers bid aggressively on properties in all areas in 2021, particularly those in turn key condition. The less work to be done and the less investment required post purchase, the more buyers were willing to offer.
Property viewing in person was prohibited entirely for the first four months of 2021. This led to pent up demand when we were allowed resume our normal business at the beginning of May. As a result, the lead time to agree a sale from listing to deposit shortened substantially. This has remained the case where properties are selling in a matter of weeks.
Most sellers are also buyers — people moving house. In order to close the sale on their house they usually need to find an alternative property that meets their needs. A strong sales season right through December saw almost all properties in our office sale agreed or sold in the run up to Christmas. The typical lull in listings in January is coming to an end as the sales season begins in earnest. We have been busy valuing property for the Spring market over the past few weeks and are looking forward to less restricted viewings this year.
In new homes, we launched the first phase of Cairnhill Meadows, on the Naas Road. The first phase has been sold off plans and we look forward to opening the showhouse and launching the next phase at the end of February. Full details are available on www.cairnhillmeadows.ie.
The Covid period has allowed us to review our marketing practices, upgrade our window display, further improve our IT and marketing materials with some new innovative additions. We pride ourselves on achieving the very best possible outcome on every sale we conduct on our clients behalf. We intend to continue viewing by appointment only on occupied family homes to ensure the best possible outcome for our clients and deliver a more solid deal with potential purchasers.
Those thinking of moving home would be well advised to be prepared for a competitive market. We recommend you start the preparations early. We are available to advise on the preparation of your property for sale. We provide a free consultation and valuation of your property without obligation. We will provide you with a written report and advisory document free of charge, on the sale of your property and the sales process. We also provide a list of sales conducted in your area showing our results achieved for your review. As a valued client we are also happy to advise you on the purchase of your new home, wherever it may be.
Let us help you make your move. Call us today to make an appointment on 045 482 759 or 087 131 1133 or email info@appleton.ie
Austin Egan MIPAV is Director/Owner of Appleton Property, Main St Kilcullen.
It is widely known that residential property sales prices and residential rents have risen substantially during the pandemic. Accelerated savings, lower interest rates, hybrid work practices, people seeking to improve their homes or gain additional space for a home office have all contributed to increasing demand. However, the main driver of house price increases is the continuing historic low level of supply. While attempts are being made nationally to bridge the gap between supply and demand, it is likely that demand for housing will far outweigh supply for the foreseeable.
It is reported that property prices have risen nationally in the 12 months Dec 20 to Dec 21 by an average of 7.7%. Outside of the main cities the price rise is estimated by daft.ie to be 11.9%. On this basis, for example, a house valued at c. €268,000 in December 2020 would now be valued at c. €300,000. We have seen the prices rising throughout the year in our activity in Kilcullen, Calverstown, Narraghmore, Newbridge and Naas and surrounding country areas. In certain areas, and with certain house types this % increase has been higher. Buyers bid aggressively on properties in all areas in 2021, particularly those in turn key condition. The less work to be done and the less investment required post purchase, the more buyers were willing to offer.
Property viewing in person was prohibited entirely for the first four months of 2021. This led to pent up demand when we were allowed resume our normal business at the beginning of May. As a result, the lead time to agree a sale from listing to deposit shortened substantially. This has remained the case where properties are selling in a matter of weeks.
Most sellers are also buyers — people moving house. In order to close the sale on their house they usually need to find an alternative property that meets their needs. A strong sales season right through December saw almost all properties in our office sale agreed or sold in the run up to Christmas. The typical lull in listings in January is coming to an end as the sales season begins in earnest. We have been busy valuing property for the Spring market over the past few weeks and are looking forward to less restricted viewings this year.
In new homes, we launched the first phase of Cairnhill Meadows, on the Naas Road. The first phase has been sold off plans and we look forward to opening the showhouse and launching the next phase at the end of February. Full details are available on www.cairnhillmeadows.ie.
The Covid period has allowed us to review our marketing practices, upgrade our window display, further improve our IT and marketing materials with some new innovative additions. We pride ourselves on achieving the very best possible outcome on every sale we conduct on our clients behalf. We intend to continue viewing by appointment only on occupied family homes to ensure the best possible outcome for our clients and deliver a more solid deal with potential purchasers.
Those thinking of moving home would be well advised to be prepared for a competitive market. We recommend you start the preparations early. We are available to advise on the preparation of your property for sale. We provide a free consultation and valuation of your property without obligation. We will provide you with a written report and advisory document free of charge, on the sale of your property and the sales process. We also provide a list of sales conducted in your area showing our results achieved for your review. As a valued client we are also happy to advise you on the purchase of your new home, wherever it may be.
Let us help you make your move. Call us today to make an appointment on 045 482 759 or 087 131 1133 or email info@appleton.ie
Austin Egan MIPAV is Director/Owner of Appleton Property, Main St Kilcullen.
Photographs use Policy — Privacy Policy
