Spring boast for home buyers in Enniscorthy

There has never been more available properties currently than there is now in Enniscorthy town and surrounding regions with a 67% jump since the same period in 2021 (available properties on daft).

In this quarterly review, it will show that there is now a greater choice of homes for people looking to move to the Enniscorthy area (excluding new homes) than there has been in a number of years. There is plenty of factors attributing to this, landlords looking to cash in on good prices for their homes which is a well-known fact at this stage as shown with the current rental crises, people trading up for a larger home, particularly four beds which I will come to below, and just the general need to sell due to circumstances.

While the word recession has been used since late last year with a noticeable slow down in house price rises mostly attributed in Dublin market where prices are at an all-time high, prices in the Enniscorthy area have really held their own. Three bed semis are still the same price as they were last year, with the standard semi achieving between 195k to 210k while some more popular housing estates still achieving a premium. For example some 3 bed semi’s in Madeira now achieving 230k to 235k, which is €10k more than 4-5 months ago. What’s most surprising, is a newly recent trend where the three beds semi detached was always king, the jewel as such, a guaranteed starter home. Within the last year, really since covid, the four bed semi has really taken over, with this being a preference among first time buyers. Really since covid, people have looked for more space with ‘working from home’ now a real option  and with four beds within affordability in Enniscorthy town, they are selling quicker than ever. This was no more evident in the recent new home developments we have sold, where in Radharc an Chuain in Castlebridge all four beds were sold quickly before the three beds while in Greenhill, Clonhaston Enniscorthy, nearly all our all our 4 beds are reserved with just a  few remaining while we just released 5 bed homes last week with a significant amount of bookings already. Also just to mention that a vast amount of these homes in Greenhill are being purchased from commuters from Dublin, showing the effect the Enniscorthy by-pass has had on the town. You can check out the development here http://bit.ly/3TRHsCR

With last years high in viewings of properties with ourselves, there had been an expected decrease this year in Quarter 1 (January to March period) which was only marginally down, 10% while still being 9% higher than 2021 viewings for the same period which really shows that the same amount of buyers are still active and looking in the market.

For those still in the rental market, the latest daft report doesn’t make for happy reading with the average rental price 18.9% higher than last year in the Wexford region, with the average price stated to be €1248. In Enniscorthy town, the average for a three bed semi is between €1200 to €1300 which is along the daft report lines. With landlords exiting the market due to tighter restrictions, unfortunately for those of you that are renting, this probably isn’t going to change for the immediate future.

Looking ahead for the year, as shown above the Enniscorthy market remains positive with prices holding there own and increasing in some areas. While stock has vastly increased, it should be tempered with the fact that 2021 was an all time low and availability of homes has probably increased to normal levels.  Viewering number remain strong and should do for the coming year.

Managing Director

Declan O'Leary