13 Jun 2017
Gorey is one of the fastest growing places in the south west. It’s no surprise that so many people have decided to make a home there in recent years. It has transformed itself from a small market town in North Wexford into one of the most desirable locations in the region.
An estimated 32,000 visitors descended on the town when it hosted the “Olympics of Sheep Shearing” in 2014. That event was further proof that Gorey has the restaurants, bars and transport infrastructure to easily cater for international events.
There is even a proposal to launch a Vicar Street South venue in the town, which would be an offshoot of the successful Dublin music venue. The proposed venue would attract top class acts to the Wexford town and make it a serious destination for music fans.
Gorey has always enjoyed an enviable location beside the coast in the “sunny south east” but the improvement of the local infrastructure has only increased its attractiveness. It’s no longer just locals who appreciate the town’s distinctive charms as more commuters opt to work in Dublin and enjoy the many benefits of Gorey life.
Gorey’s property market
Unsurprisingly, the recent population growth has meant that supply can struggle to match the demand in the area. Gorey EBS gets a mix of first time buyers and second time buyers but over half of their mortgages are for self builds.
“I opened this office in 2000 and throughout that time self build mortgages have been a significant part of the business,” says Colman Doyle, Manager of Gorey EBS. “It’s a big percentage certainly but it’s always been a core part of our business.”
High demand has naturally led to local property prices rising. However, property in Gorey remains affordable and the improving market still represents a good time to buy.
“House prices are rising,” says Colman. “They’re probably rising at a similar or greater percentage rate to the rates in Dublin. The prices are nowhere near Dublin prices but local prices are rising at the same rate.”
First time buyers in Gorey
“Gorey is a lot cheaper than Dublin for first time buyers but it would be a little bit dearer than Arklow,” says Colman. “First time buyers would be looking at three-bed semi-d houses in any development in the town. It’s still affordable for first time buyers but they need to have their homework done and their mortgage approved and in place before they even look at a house.”
The lack of new housing developments in the town means that first time buyers are mainly focused on second houses when they become available. Buyers can pick up a house in a development within walking distance of town for €200,000. However, a competitive local market makes it more important than ever to have approval in principle before you go shopping.
“It’s important to know what you have to spend on a house so that you can make an offer if you find yourself in a position to do so,” says Colman. “An old expression is that ‘Fortune favours the prepared mind’ so if you want to be lucky you have to be prepared. Come in and have a chat, we’ll go through all the options and get an approval in principle before you go shopping. If someone comes in to have a chat and they don’t qualify, or won’t qualify at the moment, we give them a road map of what they need to do and how long it’ll take.”
Gorey for commuters and families
Colman recalls that many people from Dublin used to buy in Gorey then relocate closer to Dublin or to areas like Greystones after a few years. Nowadays, people see no need to move.
The road to Dublin now bypasses the towns along the way and commuters can reach Loughlinstown roundabout within 50 minutes, regardless of the time. This has encouraged more people to settle in the area and enjoy the shorter commute time.
“Hazelwood and Clonattin Village would be a popular options for commuters,” says Colman.
“Hazelwood is very suitable for big families. The houses all have a front and back garden and off-street parking. Clonattin Village wouldn’t have any off-street parking but it does have playgrounds and green areas for children.”
Aside from being a commuting base, Gorey is also a local employment hub and major employers include the Community School, Stafford’s Bakery, Innovate and ITW Crop Packaging Systems. The outdoor lifestyle is a big attraction and the nearby beaches, Courtown Woods and parklands are just some of the great amenities that families can enjoy.
The likes of golf and sailing clubs offer outdoor activities at better rates than you could hope for in Dublin. The town has a wide range of clubs offering GAA, soccer, boxing, cycling, tennis, badminton and more. Gorey Community School is also Ireland’s largest secondary school.
It’s not just sports clubs and the great outdoors that makes Gorey so attractive. A lively social scene and strong community spirit makes it a great place to live and to work. With all that going for it, it’s no wonder that Gorey’s one of the fastest growing towns in Wexford!
Thinking of buying a house in Gorey
If you'd like to talk through your mortgage options, book a 30 Minute Mortgage Meeting with Colman or one of the team. You can also use our mortgage calculator to find out how much you may be able to borrow.
Don’t forget to visit our Facebook page for
the latest home inspiration, news and great competitions.
Colman Doyle Finance Limited trading as EBS Gorey is a tied mortgage agent acting solely on behalf of EBS d.a.c. EBS d.a.c. is regulated by the Central Bank of Ireland.
The content of this blog is expressed in broad terms and is limited to general information purposes only. Readers should always seek professional advice to address issues arising in specific contexts and not seek to rely on the information in this blog which does not constitute any form of advice or recommendation by EBS d.a.c.
EBS d.a.c. neither accepts nor assumes any responsibility in
relation to the contents of this blog and excludes all warranties,
undertakings and representations (either express or implied) to the
fullest extent permitted under applicable law.