Tramore Property Market Showing Continuing Signs of Recovery

The property market in Tramore showed significant signs of recovery in the second and third quarter of 2013 with the number of transactions increasing markedly on previous years.

Since March we have noticed a significant increase in viewings and consequently sales. Since the property market crashed in the summer of 2007 we have seen periods when there have been spikes in sales but this time the increased activity was maintained over the six month period to September. This would indicate that possibly the worst is over and that buyers feel that we’re either at or very close to the bottom in terms of price. In fact for the first time since the boom we’ve had situations where we’ve had multiple bidders on some properties.

This situation also reflects the fact there is a shortage of certain types of properties on the market, particularly good family homes in mature locations. Some sectors of the market have however continued to struggle. There is a lack of first time buyers (FTB’S) in the market, primarily due to the difficulty in getting a mortgage. Banks might be approving mortgages but not necessarily for the amount being applied for.  This has  resulted in weak demand for the traditional starter home, the three bed semi,  and when mortgages have been approved we are finding that  first time buyers are going for slightly bigger properties if possible. This reflects a change in attitude whereby FTB’s are looking for a house for the long term or for ‘life’ as opposed to house which they will flip on in a few years.

Property prices have been rising steadily in Dublin for the last year and the same is beginning to happen in Cork and Galway city. This is positive news for the rest of the country. Sentiment appears to be changing, that this is now a good time to buy.  The property market is no different to any consumer market, confidence is vital and this appears to be returning.

Barry Herterich MIPAV

Residential Sales up 29% in Tramore

Throughout 2013 numerous residential property reports have indicated that the worst is over. In the year to June the CSO reported that residential property prices at a national level increased by 1.2%. This is the first annual increase since January 2008.  When the property bubble burst at the end of 2007 Dublin property prices fell first and now Dublin is experiencing the rebound before the rest of the country. The CSO reports that Dublin property prices are up 4.2% in the year to June but anecdotal evidence from estate agents suggest that the price rises have been significantly higher

More importantly for those of us living outside of Dublin the price of residential properties in the rest of Ireland grew by 0.7% in June. It is also evident that more people are now buying property, with the number of transactions increasing significantly. According to the Property Price Register the number of houses sold in Tramore in the first seven month of 2013 was 29% higher than the corresponding period in 2012. We are now experiencing situations where there are multiple bidders for certain types of properties. Whilst property prices locally may not be rising there is plenty of evidence to suggest that buyers feel that the ‘bottom’ has been reached and it is certainly apparent that there is more confidence in the market.

It would appear now that the continued recovery of the property market in Tramore will be dependent on the supply of houses coming on the market as opposed to the number of people looking to purchase. With a large number of houses now worth significantly less than what was paid for them it’s understandable why many owners who would like to move either can’t or are unwilling to sell at current market values. This could leave buyers, who have been waiting patiently to enter the market, frustrated in their efforts to acquire the house they desire.

Tramore Second Best Place to Live in ireland

A recent Sunday Times survey has found Tramore to be the second best place to live in Ireland! The Sunday Times says of Tramore " It's easy to see on a summer's day why Tramore is such a popular tourist destination and an enjoyable place to live, with beautiful walks and beaches such as Newtown Cove just a short distance away, along with cosy pubs, welcoming restaurants and the renowned Tramore races. But there's more to being a great place to live than a bustling tourism industry and beautiful scenery. Tramore benefits from its small-town charm, combined with ready employment just 10km away in Waterford.....The town also boasts a number of sports clubs, form GAA to soccer and golf, along with eh less traditional but extremely popular surf school that is patronised by residents and visitors alike. There are plenty of opportunities for local walks and outdoor pursuits."

The criteria for the survey included information on national house prices, crime statistics and employment figure; availability of transport links; access to recreational facilities; proximity to local hospitals and healthcare; closeness to cultural amenities, national parks and beaches; sporting facilities, community involvement and access to quality education. The most influential criteria was the cost of housing.

Letting Your Property

The first step is to have a FREE consultation.

Void or vacant periods are a critical challenge for owners of investment property - our objective is minimise this risk and maximise rental income. There are 3 key areas we focus on:

1. Securing the highest quality of tenant possible
2. Maximising rental income
3. Letting your property in the shortest possible timeframe

Once you have made the decision to Let your property through Property Partners Barry Herterich, the services we can offer include the following;

• Our professional lettings and management service is managed by Emma Power and Sarah O’ Driscoll, offering a friendly and efficient service.
• A free valuation of your property where we will advise you on any changes you may need to make to maximize your rent.
• Free advertising online on FOUR websites to include extensive internal and external photographs.
• We can show properties after hours and at weekends
• Our management service provides you with a hassle free solution as our list of trades people and professionals ensures any works required will be carried out professionally and at the best possible price.
• Thorough screening of all tenants through landlord and work references.

Once a suitable tenant has been secured we will;

• Prepare a legally binding lease
• Ensure that the PRTB form is completed
• Ensure that the tenant pays one months security deposit and one months rent in advance
• Ensure that the standing order is send to the tenants bank
• Prepare a full inventory of contents
• Transfer utilities into tenants name

Selling Your Property

The First Step is to have a FREE Property Consultation and Valuation
With our experience of selling homes in a difficult market, why not let our strengths and professional knowledge work for you? You can be certain that we will work harder to bring the buyer to your door
In recent years many changes have occurred in the way properties are sold. Most buyers today search the internet - that's why we advertise all properties for sale on SEVEN leading websites. Still, estate agency is very much a people business - that's why we believe the personal service we guarantee is so important.
Furthermore, we know the local market inside out and we are experts at negotiating the best price for our clients.

We Offer:

• Expert local knowledge and advice on the sale of your home.
• We operate on a no sale no fee service.
• All website advertising is provided free of charge including premium and feature ads. Your property will be listed on the following websites Daft.ie, MyHome.ie, propertypartnerstramore.ie, propertypartners.ie, property.ie, onview.ie and globrix.ie
• Professionally designed and printed sales brochure incorporating key selling features
• A distinctive For Sale board strategically placed at your property
• An extensive, computerised database of active buyers.
• Our office is open 5 days a week with evening and Saturday viewings accommodated.
• We will accompany all viewers to your home and give you at least 24 hours notice before viewings.
• We will provide feedback immediately by telephone or email with reference to the viewings and continually update you on the progress of the sale of your home.
• We will provide regular progress reports and support between the time an offer is accepted, contracts exchanged and transaction completed.
• We will give 100% commitment to getting you the highest possible price for your home.