GOOD NEWS certainly travels fast, and it didn’t take long before the news of a recent receiver’s sale of apartments and houses in Stocking Wood, Rathfarnham reached us.
It’s understood 47 of the properties in the scheme, built in 2007 by Deane Homes, have now gone sale agreed. Just 30 went on sale two weeks ago, but such was the response that weekend – with more than 1,000 people viewing over four days – the receiver, Kavanagh Fennell, decided to add 17 rented apartments to the sale.
According to David Browne, the agent handling the sales for HT Meagher O’Reilly, the buyer profile was mixed, with plenty of cash buyers. “While the market may be continuing to fall, there seem to be more people willing to commit, rather than opting to wait. One encouraging development is that there’s much more deliberation by people before deciding, compared with the frenzied cheque throwing that has characterised previous distressed sales.”
Browne points to a small development in Saggart, Co Dublin as possibly a better bellwether of market trends. Builder Anthony Neville Sons recently tested the market with a three-bed showhouse in an unfinished terrace of four offering houses between €190,000 and €225,000. In the past month, HT Meagher O’Reilly have sold 22 three- and four-beds off the plans. Repeat: off the plans.
The Irish Times – Thursday, June 21, 2012