By
Michael Kinsella, auctioneer with www.KinsellaEstates.ie
Christmas
may well be the season of selling but this has traditionally been restricted to
reindeer jumpers and festive bath salts, certainly not property! But is this
still the case? Over the past decade,
our property market has been up and down and is just about levelling out
now. If the last few years have taught
us anything, it is that seasonality is a luxury for functioning markets and in
Ireland, we are not quite there yet.
The run
up to last Christmas was uncharacteristically busy due to the ending of the CGT
waiver period (when properties that were purchased between specified dates and
subsequently held their investment properties for a period no less than seven
years could benefit by way of an exemption from Capital Gains Tax). This limited Revenue initiative encouraged
new investors, drove existing demand and effectively focused the buying power
of investors in the marketplace. It was
not a happy time for owner-occupiers struggling to compete for their new
home. It is also one of the most likely
reasons for the slow-down in transactions throughout 2015.
With the
New Year just around the corner, have sellers left it too late to sell or
sale-agree their homes or investment properties in 2015? The good news is that the property season now
continues, right through the jolly season.
Here at Kinsella Estates, like every Christmas, we will be taking phone
calls and dealing with emails throughout the holidays. In fact, we know from experience that this is
a busy time, particularly with returning ex-pats who use the Christmas holidays
as a time of house-hunting and research (in between rounds of visiting and
mince-pie eating of course!). This year
will be no exception. With the strength
of the sterling against the euro, interest from UK buyers is already
growing. Many of these UK buyers are
Irish emigrants or they have Irish roots and are looking to return home or to
pick up a bargain holiday home for personal use. The sunny South East has always been one of
the destinations favoured by these buyers.
So
what are the pros and cons of selling at Christmas?
Disadvantages:
1. Certainly there are fewer buyers
active in the marketplace.
2. Accommodating viewings can be
difficult with visiting family (especially noisy children).
3. Christmas decorations will need
to be handled with taste, recycled tinsel is rarely irresistible to
house-hunters.
4. Buyers might (rightly or wrongly)
assume that the seller is financially motivated to sell quickly.
5. It can be difficult to find a
local estate agent willing to work over the Christmas period - luckily this is not a problem in the
Wicklow and Wexford areas as we are always on hand and ready to sell.
Advantages:
1. Buyers who are looking during
this period are generally serious buyers and ready to commit to the right
property once they find it.
2. With the exception of a
beautiful, bright summer day, Christmas is usually the time when your home is
looking its best.
3. The Christmas season is generally
a feel-good time and potential buyers should be able to experience your home at
its most homely and cosy, with all the look, smell and feel of the season.
4. With fewer sellers opting to
bring their properties to the market at this time of the year, sellers who do
will have less competition for a genuine pool of ready buyers.
5. This reduced competition between sellers
increases the chances of attracting a ready buyer in a shorter space of time.
So, if you make the decision to bring your home to the
market this side of Christmas and to keep viewings going over the holiday
period, here are a few helpful tips:
1.
Do go
ahead and decorate but keep it tasteful!
2.
The usual
advice to de-clutter is even more important at this time of the year, remember,
for viewings, less is always more.
3.
Curb
appeal is crucial over the holiday period with people returning home so keep
the 'For Sale' board prominent and stick to classic seasonal decorations
outside. Top tip - your family and friends might appreciate your
quirky personality on show in your garden but potential buyers are unlikely
to.
4.
Be flexible, allow viewings at short notice and make
the house cosy and inviting. It this
time of the year it is difficult to showcase in natural light so create the
feel of luxury and comfort instead.
5.
Most
importantly ask for advice. Local estate
agents know the area, we know the buyers around at this time of the year and we
want to help you sell.
Guest article by Wicklow and Wexford based auctioneer, Michael Kinsella, of www.KinsellaEstates.ie
For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at www.KinsellaEstates.ie .
Email me directly on michael@kinsellaestates.ie
or telephone : +353 53 94 21718
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