The Cork Housing Market Discussion Thread


#161

The more I think of the new CB lending rules the less likely I think it will effect most of the Cork City market, which is 3 beds.

Average 1,000 st ft 3 bed semi Cork city suburbs - Blackrock, Ballinlough, Ballintemple - has gone for 310K last 18 months or so. Either 310K for relatively walk in condition or 270-280K plus refurb costs to come.

Taking the 310K figure.
Under old rules, you needed 31K deposit min (310K@10%)
Under new rules, you need 40K deposit min (220K@10% + 90K@20%)

Assuming you only had the bare 31K, you are set back 9K or say up to 1 year more of saving up. Many will have had higher than the 31K so won’t really be to affected. So I’m not expecting prices in this bracket to fall. Especially with zero supply.

Of course if you go to the 4 bed market you’re looking at 400K for semi-d or 500K for larger detached. Here the deposit already built up is the key variable:

400K 4 bed semi-d
Under old rules, you needed 40K deposit min (400K@10%)
Under new rules, you need 58K deposit min (220K@10% + 180K@20%)

500K 4 bed detached
Under old rules, you needed 50K deposit min (500K@10%)
Under new rules, you need 78K deposit min (220K@10% + 280K@20%)


#162

I think you’re right. And if you move outwards from the cities you’ll see that most of the country is not affected from a FTBers point of view. So the tools are designed to cool the Dublin market, and to prevent excess in the cities, but are probably designed with clearing the surplus in the countryside in mind.

There’s next to nothing available in terms of 3 bed semi stock, and there’s little in plan for building more. I think development of existing suburbs in Cork will be next to nil in the coming years, with some expansion of Glanmire/Ballincollig/Carrigaline taking up some slack. There’ll probably be some more isolated overpriced stuff on Maryborough hill expanding into the countryside.

The major developers will want to push ahead with docklands plans put on ice at the end of the boom, but that’s a while away. I know O’Flynn are completely focussed on Dublin for now. Monard? Seems a long ways away.


#163

removed as posted twice in error


#164

Would anyone on here have a ball park figure of what they would expect a 4 Bed Dethatched house in The Ovals which is just off the Rochestown Road to sell for? I can’t see anything on Property Price Register. Ball Park figure is all i am looking for. Thanks.


#165

Is that the same as Mount Oval? Plenty in there PPR for Mount Oval.


#166

Thanks for the reply. No it is not the same. It is a small development quite close to the motorway. I would say they are about 20 years old whereas Mount Oval seems to be newish development. It looks as if nothing has sold their in quite some time.


#167

Mount Oval is at least 30 years old I thought? I was certainly there in the 90s and the houses weren’t new.


#168

You are probably right and I am not familiar with the area. This is the area I am talking about. See link below

rose-property.com/property-t … featured=0


#169

That page is literally the only one I could find on Google referring to “The Ovals”. Does it definitely exist?


#170

Yes it exists. I think it is a samll cul de sac of about 15 houses or so.


#171

Oh yeah I see it in gmaps now.


#172

On price I’d guess 550-650 maybe even more. It is detached, it is in a popular location, if you want one of those particular houses you could be waiting a few years for one to become available.


#173

Thanks for your reply. That’s all I was looking for. A ball park figure.


#174

More than 5,200 families living in unfinished estates in Cork

irishexaminer.com/ireland/mo … 12750.html


#175

Other way round.
Probably a small bit being hived off.


#176

Yeah, they might have realised one of the neighbours owned a small part of the lands around the house and got a pay off


#177

Family member being “bought out” before it got sold to an outside party?


#178

myhome.ie/residential/brochu … rk/3093179

400k for a 3 bed semi in Cork?


#179

Mount Rivers, Castle Road, Blackrock, Cork

myhome.ie/residential/brochu … rk/2479786

When for 13/02/2015 €900,000.00 MOUNTRIVERS and Lodge, 3314573FH 1557595GH, CASTLE ROAD BLACKROCK


#180

Fair whack of land in a very desirable area. The shape is unfortunate but I wonder if the purchaser is planning on doing something clever.