A record numbers of sales has been recorded in the last 27 days by O’Donnellan & Joyce auctioneers. The large volume of sales was made up of a variety of sales from apartments to houses, with the majority of purchasers being first time buyers.
It has been an exceptional month with some properties selling in excess of their guide price and three properties selling after their first viewing. A ground floor apartment achieved double its asking price, something that agents have not witnessed since the height of the market. In some cases offers that are being received could have up to six or seven bidders chasing the property, this is mainly occurring for family homes in good locations and that are close to schools and shops and within easy access of the city.
This surge in demand is creating a shortage of properties in general and this in turn has seen property prices begin to stabilise and in some cases even increase. O’Donnellan & Joyce has advised that vendors should not be afraid of placing their property for sale, as with the current demand there is a greater chance of the property selling and achieving a realistic price. Residential manager Niall Browne of O’Donnellan & Joyce has been inundated with enquiries and viewings over the past two months and is now looking for properties for disappointed underbidders. The second-hand sales department in O’Donnellan & Joyce is headed by Niall Browne, who is assisted by sales agents Kyle O’Brien and Mary Fahy who have found themselves working six days a week to deal with the increased demand.
O’Donnellan & Joyce carries out the majority of its viewings in the evenings and Saturdays, as these are the times that most people are available for viewings and it is very important that clients who are interested in purchasing a property are facilitated.
Although the majority of purchasers are first time buyers, O’Donnellan & Joyce has reported that there are a number of investors beginning to return to the market. This is mainly due to the exceptional value available and also as the demand for rental property continues.
If you wish to have your property appraised or discuss the market in detail contact Niall Browne of O’Donnellan & Joyce on (091 ) 564212.
