Property sales have seen a much needed increase in Thurles town and is set to remain at a steady pace throughout the year.
The Thurles area which has been effected by the downturn in the economy over the past couple of years is now finally beginning to see an increase in sales of properties and developments.
The upturn in property sales may be attributed to the slight improvement in the national economy. The Central bank released figures for 2014 predicting a rise in the economy by 2.1% and 3% for next year. It also expects unemployment to drop from 13% to 11.9% by the end of the year.
Auctioneers P.J. Broderick & Co which is located on Liberty Sqaure are amongst businesses that deal with the selling of property in the town area. The business which has seen an increase in sales over the past six months outlines that this increase is not due to changing property prices, but to peoples willingness to delve into the property market.
Peter Broderick believes that increased sales can be attributed to “people feeling that prices have levelled out and see that now is the time to buy property”. Peter also stated “The market can prove difficult for property owners who are looking to sell houses priced at €150,000 with the sales of these homes generally taking up to eight months because buyers are only willing to spend around €120,000 for a property in the town”.
Properties such as a Bungalow in Ballycurane, Thurles has seen its value increase by 15.5% from €165,000 to €190,000 and a 3 bedroom terrace on Inisfallen Avenue increase by 6.25% in price meaning that property sales are also begining to show a small rise in prices.
Recent sales in the town include a second hand dwelling/apartment on Davis Road and an apartment located above Friar Pharmacy on Friar Street.
It is also worth noting that housing sales in Tipperary were predominately sold in the second hand market, recording growths of 20% last year. The demand for new homes remained relatively small at just 34 new homes sold in the county for the first six months of 2013.
Local auctioneers have welcomed the news of rising property sales.
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