We’re off!

2016 has got off to a very positive start in the property sector. Results in this area are nothing like what we see in the major cities but there is growth. In January and February enquiries and viewings were up significantly on the same period last year. People enquiring are very well equipped with details of their source of funding and quite ready to chase a property in active bidding. Interestingly, we have a very high level of interest from outside the Eurozone area. This can be attributed to the strength of the Pound Sterling and US Dollar against the Euro.

There is excellent value in the area, for example we are marketing a substantial trophy property in the area at the knockdown price of €125,000. The property is in need of substantial repair and renovation but represents a great opportunity in the Resort.

We are also offering a single plot holding in the Cliffoney area with extensive main road frontage for €100,000 and we have taken a c.13 acre holding at Drumcliff, closer to Sligo, to the market at €150,000.

Offers on all properties are invited and we would encourage you to avoid negative interest rates and buy property!

Decision Time

I hope you had as wonderful Christmas and New Year break. Despite the rain and the wind, the weather has been relatively kinder in the Northwest than in the South and in the Shannon Basin area. We have a lot to be thankful for.

Since we re-opened on Monday 04 January, I have conducted many more property viewings than the same period last year. In addition, a number of my sellers have contacted me to discuss re-launching and re-pricing properties. I have also had quite a few contacts from individuals who are thinking about selling.

It would seem to me that we will see a gradually improving market as the year progresses. I do not believe there will be a “double digit” growth but there will be sustained sub 5% growth by the year end at the lower end of the residential market.

We need good saleable residential stock in this sector, particularly between €85,000 and €130,000.

If you would like a candid, no punches pulled appraisal, give me a call and maybe that call will help you fulfil your New Year’s Resolution!

Happy New Year!