There are now less than 50 habitable homes of any nature for sale in the town of Athlone this figure has never been lower.
While sales prices are higher than a year ago with only a marginal increase, asking prices have exponentially increased.
We are regularly being bombarded with reports that asking prices have increased, an asking or listing price is only an indication and currently Athlone’s property is selling below the asking price just over 50 percent of the time.
This becomes a self fulfilling prophecy as vendors read these reports AND they begin to demand more for their houses. According to a recent daft.ie report, the average listing price in Westmeath is up 10.8 percent, but it should be noted that asking prices and sale prices are a ‘different animal’.
The major issues remains the lack of building around the country and this shows no signs of abating as the build prices for homes have escalated since Christmas.
With no real building plans in sight it is very hard to see that this will stop anytime soon.
However, if you are considering selling or purchasing a property we would always advise speaking to an auctioneer you trust and going through the pricing and rationale behind it.
While the demand for housing is huge, the market is not quite as manic as the media would suggest. There is still a bit of value to be had out there for purchasers on properties that need improvement as first time buyers favour turnkey properties and are willing to pay a premium for them.
