Demand for housing remains high

James Spring, principal at REA Donohoe Spring in Ballyconnell, believes more needs to be done to encourage more new builds to help ease demand in the market at present.

The price of the average second-hand, three-bed semi in Cavan remained high in the third quarter of this year, according to the latest national survey carried out by Real Estate Alliance.

The REA Average House Price Index showed actual selling price of a three-bedroomed semi-detached house across the country rose by around 1.5% in Q3 to €290,630 – representing an annual increase of 10%.

“Prices are steady, but the market is very under-supplied,” reports Mr Spring, who with wife Olivia Donohoe, heads up the trusted Ballyconnell estate agency.

“We've had a lot of good sales this years. The flow of property coming in for sale has been steady and bidding is very competitive at the moment. Vendors are happy. Buyers are very much looking at Cavan as an attractive option if commuting to Dublin maybe one or two days a week and remote working the rest of the time.”

The trend of people with local connections buying near to home existed pre-Covid, but has definitely ramped up both during and post pandemic.

“There's a better quality of life, there's no getting around that fact, and it's a great selling point too. You get more for your money, a local community, schools, doctors on your doorstep, and it's good to see," said Mr Spring.

On top of that there is a shortage of rental properties too, and for a town like Ballyconnell, with a large working population, that has presented challenges.

“We need more houses in Ballyconnell. Every town does really. It's a stark contrast to 20 years ago when these developments were being built and people were asking where are we going to get the people to fill them? Ballyconnell is a busy town, we need more rentals for people who maybe come here and work for a year or two, and new houses for families who've moved here maybe 10-15 years ago, who put down roots, bought houses, and now their children are raising families of their own and are looking for housing,” he concluded.