House Market Slowdown
December 5th, 2000
The latest report from the Institute of Irish Auctioneers and Valuers indicates a definite slowdown in the overall housing market. This is also reflected in reports from auctioneers in County Wicklow were a marked slowdown has entered the residential marketplace. The slowdown is most noticeable in the top end of the market with houses in some cases having to reduce their asking prices by as much as ten to fifteen percent.
The all to prevalent panic factor seems to have abated and customers are taking more time in their evaluation of what they want to buy and more importantly what they are getting for
Slowdown in Housemarket
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their hard earned money. Several factors have been sighted as contributing to the present change including the recent Bacon reports and the fact that supply is in some areas of the county actually meeting demand.
However Bray still has a very demand driven marketplace purely because of its geographical proximity to the capital and the fact that there is not a great amount of land left that can be actually developed. The present situation is seen more as an overall soft landing and reference to a crash or negative equity have so far not entered into debates concerning the future of the house prices in County Wicklow.
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