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.
There are a number of active buyer profiles looking for homes in Bandon.
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.
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.
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.
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Sunday, June 12, 2022 in Blog