What happened in Kanturk? 24 price drops this week

Amazing number for a small town in North Cork - 24 price drops since Monday
collapso.net/counties/Cork.html

i know the town and these price drops just reflect a bit of reality, also 2 very large estates went up in the last few years and are not even half full, a friend recently rented a 3 bed semi for 200 per month so that shows what you are dealing with.

EA came back from the Galway Races with renewed vigour and told them to drop or shag off …maybe ???

I think that like many Cork rural towns Kanturk has probably gone through a period of EA denial/price fixing and is just adjusting to a slightly more realistic level. Prices in many of the West Cork towns I have been watching tend to go through periods of holding tough followed by a round of 5-15% price drops. The EA’s are probably just hoping that a gullible few will get sick of the wait and bite before the inevitable price drops.

For the first time in a year I was in with an estate agent in Clonakilty last week. She said that the market had dropped 40%. I said ‘Yeah but asking prices haven’t dropped 40%.’ She tried to pick out a few examples of the biggest price drops on their books to which I responded ‘that’s only 15%’, ‘that’s only 12%’ etc. The best she could come up with was a bit shy of 20%. She ended up on the usual ‘make an offer and you never know’.

There seems to be a recognition there amongst EA’s that there is a hell of a long way to go before asking prices match market reality. They don’t want to be the ones to break the news to their vendors as they will lose business if they do. It will just take a few rounds of drops and a long time to get there. :unamused:

Mallows turn for the 2nd half of the week - 68 price drops recorded in 3 days collapso.net/counties/Cork.html

North Cork is a wasteland - every one-horse town and village has empty housing estates sprawling out from it. Identical to the midlands but because it’s not so big it doesn’t get as much attention.

Check out Irishhousehunter.com for Co. Cork. One Auctioneer, Murphy Brown (not of the TV show I presume) seems to have cut the price of all their listings between 20-40%. extraordinary! All but four listings on the front page for Cork price drops are this auctioneer. irishhousehunter.com/reports/rep … rk#summary

wv

Sounds about right…

Apart from Munster Joinery there was never that much employment in the first place.
Seems to be one of those areas very heavily dependent on trades as a means of employment.
Unsurprisingly then that the reports I’ve heard from family out that way is that there is nadda work.

That and it being football country… I’m surprised how few have been able to afford to make it up for next weekends game. They are quiet clear about not being able to afford it too.

The region is not following a common trend, There may be drops galore in Mallow & Kanturk but if you look at Fermoy. The no movement and that’s a town which is more of a wasteland then the others… Don’t figure.

It may simply be commuter belt expansion in reverse.

The reason why places further and further away from the city were commanding higher prices were because they were deemed commuter spots and were the cheapest in that bracket.
Now as prices drop much closer into the city the knock on effect is that these locations are once again having their prices determined by local demand. There isn’t much tourism out around Kanturk!

Fermoy has a little more to offer and with the motorway may still appeal to commuters.
No doubt it too will suffer the same price faith… just a little bit later in the cycle.

Good point.