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Bandon Residential Property Market

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Whats happening in the Bandon residential property market?

Demand for residential property remains strong in Bandon and its surrounds.  Over 70% of the active buyers registered with DNG Galvin seek a three- four-bedroom home.  We have seen a growing demand for four-bedroom homes over the past year. Buyers continue to require more space and are using the smallest bedroom as a home office.

Who is buying property in Bandon?

There are a number of active buyer profiles looking for homes in Bandon.

  • Local Bandonions
  • City based home hunters buyers being priced out of preferred choice of locations close to cities such as Cork, who are now forced to consider established urban centers in the greater Cork County such as Bandon.
  • Dublin and up the country home buyers who are seeking the country West Cork lifestyle, yet want to be within commuting distance of the train station, airport and bus routes. Bandon, the gateway to West Cork is an attractive location due to its proximity to Cork City and with West Corks finest beaches within a short commute. The best of both worlds! Furthermore, Bandon is well known for its high-class schools which is an attractive factor for families.

How is the supply of housing in the Bandon residential property market?

Even though we have seen a slight increase in the supply of homes to the market. Supply is no where near what is needed in Bandon.  There has been an increase in the supply of new homes to the Bandon market over the past two years. Those who might have thought this might result in stopping price rises have to face a new reality: construction price inflation.  Irish house price inflation has been in the order of 15% over a 12-month period.

The second-hand sales market in Bandon is crying out for stock. There is Hugh demand for spacious family homes in turn key condition.

Why is there are shortage of second hand properties in the market?

Stock is much slower coming to the market for a number of reasons.

Firstly, there is still a lot of uncertainty out there. People worry that if they sell their home where do they go? The lack of alternative accommodation in the market is resulting in people sitting on the fence. Find out why it is wise to sell before you buy here

Secondly even when people make the decision to sell, it is taking a longer period of time to prepare a property for sale.  For example, if one wants to get their house painted or do minor repairs before going to market, it is highly likely that they will find it challenging to find tradespeople.

What type of property is in most demand in Bandon?

In short, all types of property but particularly homes in turn key condition. People are opting for energy efficient homes that require little or no work. We have a number of ready to go buyers seeking a home within walking distance of Bandon town.

Thinking of selling your property in Bandon?

Get in touch with us for your FREE no obligation sales appraisal. From our extensive database of registered buyers and nationwide network of 80 offices throughout Ireland, it is highly likely that we already have a buyer looking for a home like yours.

Book your Free sales appraisal here

on Sunday, June 12, 2022 in Blog

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