The Tramore
property market continued to grow in 2015 with the number of houses sold in the
first seven months of the year up 25% on the corresponding period in 2014. More
significantly, the total value of property sold in the Tramore area in the
seven months to the 31st July 2015, excluding holiday homes, is up
55% on the same period in 2014. This reflects the continued steady growth in
prices but more significantly, an increase in the number of houses in the
higher end of the market that are now being sold.
Whilst this
is good news for anybody thinking of selling, buyers are getting increasingly
frustrated at the lack of supply and choice available to them. Unfortunately it
doesn’t appear that this situation will change in the short to medium term.
Many current home owners who want or need to move because they have outgrown
their house are either unable to sell because of negative equity or they don’t
have the 20% deposit required to buy a new home. Adding to the problem is the
high cost involved in building new estates which is preventing developers from
providing new builds. Those that are benefiting from this situation are smaller
builders and trades people as homeowners look to build extensions and make home
improvements as they prepare to stay in their house longer than they might have
originally envisaged.
Barry
Herterich BA MIPAV REV
