Supply Shortage Impacts Cavan Property Market | Mark Lawlor Auctioneer Weighs In
Property supply has become a major issue in the local property market in Cavan, with approximately 240 properties currently listed on daft.ie. Mark Lawlor Auctioneer, a well-known figure in the area, has noted a significant increase in demand, resulting in homes being sold for well above the asking price.
According to Lawlor, the market trend in Cavan reflects a 5.8% increase in property prices compared to the same period last year. The availability of the Vacant Property Refurbishment Grant has led to a shift in the market towards properties in need of renovation, with strong demand for such properties.
Despite the positive impact of the grant, Lawlor highlighted the unintended consequence of rising construction costs, which have increased substantially in recent years. However, he remains optimistic about the potential of renovating empty homes in Cavan to alleviate supply strains in both the rental and sales markets.
In addition to the demand for renovation projects, Lawlor emphasized a growing interest in ‘turnkey’ properties among buyers, with some properties selling 15% to 20% above the asking price. The rental market in Cavan is also experiencing high demand, driven by a shortage of supply across all property types.
With a focus on providing personalized service and solutions to clients, Mark Lawlor Auctioneers continue to navigate the challenges of the current property market. For those interested in buying, renting, or selling property in Cavan, a free market appraisal can be arranged by contacting Mark Lawlor directly.
