WEXFORD’S MAIN towns are starting to see renewed interest from buyers.
“We are really busy right now – so much so that we have had to take on a new member of staff to cope with the amount of viewings we are taking,” says Michael O’Leary of Sherry Fitzgerald O’Leary in Enniscorthy.
“There is no comparison with last year and, while it is still hard to get sales over the line, it is happening. We have sold as many in the first four months of this year as we did in all of last year.”
Houses on his books start at €50,000, for which you can buy a cottage or terraced house in Enniscorthy. Expect to pay between €90,000 and €110,000 for a three-bedroom semi-detached home in the town, down from €230,000 at peak.
“The biggest demand we are seeing however is for the one-off house. There are a lot of people out there with cash right now, people who sold two or three years ago and haven’t yet got back into the market. They are seeing very good value and buying,” he says.
Demand is also evident from overseas. “We are getting people from the UK, because sterling is strong. These are second generation Irish people who know Wexford and like it because of the ease with which they can get to and from the UK via the ferry at Rosslare.”
What he doesn’t have any demand for are sites – “it’s cheaper now to buy an existing house than it is to buy a site and build. What’s more, the mood has lifted and people are ready to buy, which was not the case even six months ago. All we need now is for the banks to get moving.”
The profile of buyers in the county is likely to have changed, however. To the north of Wexford, for example, towns like Gorey (above) are no longer seen as an attractive option for commuters to Dublin.
“Sales now are mostly to locals. We are not seeing such an influx of Dubliners as previously and, where they do come, they tend to be retiring couples selling up and moving down,” says Ciara Slattery of Warren Estates in Gorey.
“What appeals to them is the good road network – an hour from south Dublin – and proximity to the coast.”
One of Gorey’s traditional strengths is its vibrant business community, she adds. Despite the travails of the retail sector, it has managed, for example, to turn itself into a fashion destination, thanks to the success of its ‘boutique row’ – Esmonde Street.
“Gorey was always a great business town, with a strong farming community surrounding it and supporting it by shopping locally,” says Slattery.
There is evidence too that there is still demand for property when prices are set low. Six months ago, Colum Murphy of Kehoe Associates received instructions to sell 26 apartments in Gorey town centre. The apartments were built just as the market collapsed and were initially priced in excess of €200,000. “We put them on the market at €64,950,” says Murphy, “Six months later we have just two left.”
