Property Price Increase! Your latest Enniscorthy Property Market Update
Now that we are into the final quarter of the year, we can take stock of where house prices are and have been going since the start of the year. A recent myhome report from last week has stated that property prices have increased in the last quarter (July to Sept) by 0.29% in Co. Wexford with the medium price now at €170,000.
In Enniscorthy, the average medium price is still relatively below this at €148,027 (myhome online valuation tool) it shows that there still is exceptional value in the Enniscorthy area. We have achieved some great prices recently which show that our office sales price medium is above the Enniscorthy average at €163,964. Prices though are on the up ever so slightly in line with myhomes report. For example we recently sold a three bedroom property for €150,000 and we now have another property, the same house type for sale in the same estate, priced at €10,000 more at €160,000, which has seen already a significant amount of interest. Another perfect example of this was that last year in September we sale agreed 8 properties while this year in September we have sale agreed 14. If you look at the third quarter as a whole it becomes more apparent (July, August & September) in 2019 we sale agreed 22 properties while for this period 2020, we have sale agreed 39 properties.
Another factor we have recently seen is that there has been an increase in buyers from Dublin. They have now realised that they can work from home, even if it’s only three days a week and when they see the value in the Enniscorthy area including the recent extension of the M11 motorway, it’s a no brainer. There was a very interesting article in the Irish Independent on this recently you can read it here.
We have noticed that we are now getting a number of bidders for one property which is also increasing prices above asking prices. We recently sale agreed two properties in Berryfields, Ferns which both achieved over the asking prices due to a number of interested parties. This of course can also be attributed to a slow down in new stock becoming available with properties available being advertised on the market down 2.5% from the previous month (ippi report).
What will become more apparent going forward is that as viewers won’t be able to physically view a property, virtual tours are becoming more important and it’s something that we offer here at Sherry FitzGerald O’Leary Kinsella.
We have also been lucky to be involved in the second biggest price achieved for a sale this year with the recent sale of Clonhaston House, Clonhaston. It was an honour to be involved with such a prestigious, iconic house and best of luck to the new owners of this. You can read about the sale here.
To summarise, while the covid-19 crises shows no sign of slowing down as we enter level 3, the market is still very strong in the Enniscorthy area and we are also seeing small increases in property in general. So if you are thinking of selling why not call us today for a FREE market appraisal on 053 9237322 or email sfol@wexproperty.ie.
Declan O’Leary
Managing Director
Sherry FitzGerald O’Leary Kinsella
