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A significant upward trend in new development properties has been noticed by Best Property Services . A number of new residential developments sold out within the year bucking the trend of the general property market.
The residential team at Bests have noted significant new enquiries for new developments in recent months which are stilted by a lack of supply of this type of property. Case in point is Tobar Blinne, on Chapel Road in the picturesque village of Meigh. Built by Dunmore Construction Ltd, the company has had previous success with developments in Lisnisky Mews (Portadown) which scooped a coveted Construction Register Limited award for Excellence for Best Large Development in 09.
The first phase of Tobar Blinne was a highly successful mixed development which sold out within 18months of being launched and that’s quite significant given the economic landscape during that time. The second phase which has just been launched is already gaining attention among savvy buyers who want to snap up a 3-4 bed property in a good location and Best have reported a significant interest in booking off plan with one deposit paid within weeks of the Phase II sign being erected.
Phase II, which has 7 remaining semi detached and townhouses on Chapel Road, is enhanced by the back drop of Slieve Gullion. The properties are 3-4 bed turnkey homes starting from £107,500-£120,000 – the upper bracket in the first phase was £120, 000 when launched 18 months ago. In total the development comprises 29 homes.
Best Property Residential Sales Negotiator Siobhan Phillips says the interest in new developments is growing significantly. “There is a perception out there that there is no movement in the property market but we’ve had significant success with new developments recently for example Ravensglen in Newry which completely sold out this year and the first phase of Tobar Blinne which sold out very quickly. The sign for the second phase of Tobar Blinne had just gone up and within days I had enquiries for a number of the properties.
Woodvale, Derrymore Road, Bessbrook has also been very successful. It’s a development by Colm Meehan Homes of 20 properties - 12 are already sold and the final phase of eight properties is available from £120 fully turnkey which is ideal for first time buyers.
“New developments and townhouses are a market sector which commands major interest and yet supply is still quite limited in Newry at the minute.”
“One notable mini trend is that a number of buyers work across the border and the location of Newry and in particular the new development in Meigh seems to be very appealing to reduce that commute to work.”
For more information contact Siobhan Phillips in Best Property Services, tel 028 3026 6811 or view online at www.bestpropertyservices.com. Two showhouses available to view for Woodvale, Bessbrook.
