Saturday 22 July 2017

Tipperary South: In need of more new builds

Clashbeg, Mullinahone, sold for €210,000
Clashbeg, Mullinahone, sold for €210,000

Given its past problems, employment around Clonmel is currently plentiful but there aren't near enough homes to meet the demand in the town. John Stokes of REA Stokes & Quirke says that prices will have to rise by another 5pc before it would be feasible for builders to return to the area. "Things are definitely looking up but there's a bit of a drought in supply at the moment so the government really needs to step up and address this country-wide issue," says Stokes.

There was a general rise in prices around south Tipperary last year of 7pc. The ever-popular three-bed semi saw a bigger jump though, with prices in January 2016 at €97,000 now up to €125,000, and Stokes expects this to go up again to €150,000 in the next 12 months.

The prediction from Stokes for the year ahead is a modest rise of 8pc, with one-bed apartments and ex-corporation expected to go higher.

The most popular areas to buy into the south Tipperary are Colville Road and Cahir Road in Clonmel. Cashel Road would be the most popular spot for first-time buyers, and Kilsheelan and Fethard are attracting workers from Clonmel, who are happy to take on the commute.

The success of business is inextricably linked to demand for property and there are signs of small and medium enterprises taking off again. Stokes cites a landmark sale of a warehouse in Carrick-on-Suir a few months ago. On 12 acres, it had been built but as yet undeveloped. This carried a reserve of €440,000 and sold for €970,000 being bought by a local man who is going to move his business to the area to help generate employment.

Stokes hasn't seen too much Brexit impact on sales so far but has noted that enquiry levels have definitely dropped off from the UK with the uncertainty around the sterling.

Irish Independent


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