Buying ‘a lifestyle’

Experienced Belturbet auctioneer Mark Lawlor says house hunters leaving big cities are not only getting “more bang for their buck” by buying in Cavan, but they’re also investing in their future and a new way of life.

Nationally, rent levels in both new and existing tenancies have increased, while recent surveys show that more than two thirds of purchasers in Cavan are first-time buyers, and over 30% of purchasers are residing outside of the county before signing on the dotted line.

“The market has been very strong all year. Prices have gone up, locally and nationally. It has been good year for the market all round, but we’re coming to a pinch now where the lack of supply is leading to demand only growing more.”

With house supply down 20 per cent even on last year, Mark says it is a “great time to be someone considering selling a house right now”.

“There is a lack of supply, and the cost of building is still quite high. We’re seeing a lot of interested buyers looking for one house and rental demand is very strong as well with small landlords leaving the market,” says Mark who feels the only way to deal with the demand is to “build more”.

“So, more incentives are needed to get builders building again.”

The lure of living outside a major urban centre where the cost of living has skyrocketed, along with more companies adopting hybrid or blended working conditions, means that people have “more options” than ever before to strike that work-life balance.

That’s why Mark feels Cavan is “ideal” in its location to capitalise on approved buyers chasing properties within their price range.

“A lot of people are working from home now, or commuting maybe one or two days a week, which is great. The big thing is that it’ll be the communities that benefit. These young couples buying homes will soon have families, meaning a need for more and better services and it’ll see our towns grow again,” he concluded.