Boost for local housing market post lockdown

Raymond Smith, auctioneer, is reporting an almost 50% increase in residential property enquiries on early 2020 levels since lockdown ended.

House prices in County Cavan could be on the rise, following a surge in demand from young professionals reconsidering their options in a post-Covid environment.

One auctioneer is reporting an almost 50% increase in residential property enquiries on early 2020 levels since lockdown ended.

Raymond Smith of Smith’s Auctioneers in Cavan Town has been fielding calls and meeting clients from all over Ireland looking to relocate to Cavan. He estimates, on average, he has received between 40-50% more queries per week compared to before the lockdown when the market was “steady”.

From speaking with prospective house-hunters, Mr Smith says there is a desire to swap the hustle and bustle of city living for a more socially distanced rural life - closer to family supports, with cheaper property prices and yet still within commuting distance of the Capital.

“Circumstances at the moment are that buyers are looking at Cavan more favourably probably than they have done in recent years. It’s down to a number of factors, but certainly there seems to be a demand there since Covid restrictions lifted,” Mr Smith told the Celt.

That companies are increasingly facilitating remote working is something Mr Smith views as critical to this shift. It makes it more feasible for Cavan natives to return home and get on the property ladder, he says.

“When you consider the rents and all the other costs associated with living in the city, it doesn’t take long to do the maths,” reflects Mr Smith, who adds that the pathways have never been clearer.

See this week's Anglo-Celt newspaper for full report