Plummeting house prices and a stagnant property market has prompted one estate agent to offer two properties for the price of one. Could this bring cheer to buyers looking for homes in Chiswick?
A surplus of properties, a lack of jobs (and job security) and an inability to get a mortgage has led auctioneer Brendan McGlynn, from Donegal to make an extraordinary offer to attract buyers. If you buy one house he will throw in another free of charge.
This astonishing BOGOF (buy one get one free) offer as reported in the
Daily Mail, follows the collapse of the Irish economy and higher borrowing costs. Each house is a new-build three-bedroom semi-detached home and are almost finished. Some even have kitchens and fireplaces fitted.
Get on the property ladder
According to McGlynn the offer is an attempt to fill up vacant houses, and is a perfect opportunity for young people to get on the housing ladder. The estate
agent says the offer is an attempt to shift houses and allows builders to move on to their next project.
Christian Harper of Chiswick estate agent OliverFinn: “There is a reported 13% drop in activity in the UK property market against last year’s figures which is worrying enough. But this
news story made me spare a thought for our friends in Ireland where the situation seems desperate.”
Looking on the bright side, Chiswick buyers might be tempted, if they have the technology and freedom to work remotely. Don't expect a rush of BOGOF deals in west London, but for anyone thinking of their retirement,
Donegal is the perfect place.
