Getting better or a blip?

THINGS appear to be looking up, with Sherry FitzGerald reporting they’ve registered over 1,000 buyers in January and had 500 viewers last week alone to their properties. A number of other agents are also reporting big turnouts at viewings. So is this the start of a more active year or just a seasonal blip? Time will tell . . .

Meanwhile, the SCSI is gearing up for its annual black tie bash tonight and has just published its annual report which found that Munster house prices suffered the least dramatic decline in Ireland during 2011 and that that cash sales are increasing around the country

Apparently the average selling price for a second-hand three-bed semi in Munster fell by 9.3 per cent last year, compared to a 16.8 per cent decline in Leinster (12.8 per cent in Dublin ) and a 15.2 drop in Connacht.

The report cited lack of confidence as one factor in the decline and pointed to the ESRI Consumer Sentiment Index which plummeted to 49.2 in December compared to 60.1 in November 2011.

Another chink of light was the rental market in Dublin which showed signs of growth for the first time in three years with a 0.8 per cent increase in rental values compared to a decline of 4.5 per cent in 2010 and 16.4 per cent in 2009. It appears renting has become a viable alternative for people who are waiting to see what happens to house prices.

Agricultural land sales fared well in 2011 primarily due to cash buyers and farmers re-entering the market.