Friday 20 October 2017

Kildare North: Ex-Corpo spike

Mount Egan, Kilmurray, Clane, sold last May for €400,000
Mount Egan, Kilmurray, Clane, sold last May for €400,000

Towns such as Celbridge, Kilcock, Maynooth and Leixlip have long been popular with city workers who want more for their money outside the capital. North Kildare also has big employers like Intel, Hewlett-Packard and the university in Maynooth, making it a pretty healthy county economically, compared to some others.

"Since 2013, there have been a number of new builds," says local agent Will Coonan of REA Coonan. "In Maynooth alone, there are three new developments on the go at the moment, with another scheme of 140 units due to start this month.

"The developer is quite confident that there is enough demand for his product in this area," continues Coonan. "Building has started but there's still not enough. Serviced land is hard to get your hands on. It's probably the biggest issue holding back supply."

Commuters aren't only coming out to north Kildare to buy but also to rent. The tight supply has seen a big increase in rents, with your average two-bed apartment now costing €1,250-€1,300 a month. It's at the stage where it's cheaper to buy, which is why a huge percentage of the market is made up of newly empowered first-time buyers looking to step onto the ladder.

"The three- and four-bed semis are still the most popular house type," says Coonan. "If buyers can afford it, they'll reach for the four-bed. They also want energy-efficient homes because they're so much cheaper to run."

There was a big increase in the price of ex-Corporation houses last year of 13pc, from €150,000 in 2016 to €170,000 this year. Coonan predicts a big rise in apartments in 2017, of about 18pc.

It's not just the new homes and apartments that are doing well, though. Coonan says that rural properties are also trading briskly. "The flow of rural homes has been quite steady. It tends to be families trading up from a semi in one of the surrounding towns who are looking for more space and the big garden."

An increase of 7pc is predicted for north Kildare in the next 12 months.

Irish Independent


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