Friday 20 October 2017

Templemore hit hardest but there are some positive signs

En route to Semple Stadium, Thurles
En route to Semple Stadium, Thurles

TIPPERARY

NORTH

Nenagh, Thurles, Roscrea, Borrisokane, Templemore.

No Change

One Year Forecast: Up 2%

Average:€135,000

Assessing Agent: REA Eoin Dillon

The Market:

A mixture of local demand and ex-pat buying has increased volumes but has failed to raise prices in towns such as Nenagh, Roscrea and Thurles. Investors are also snapping up properties for less than €100,000 for rental. Cheaper homes are being snapped up with cash at prices from €30,000 to €60,000. Like many other counties, there is a shortage of good family homes in or within walking distance of towns but five or six miles out, it's a completely different story with plenty available for sale.

Vendors remain reluctant to crystallise their losses – even if they wanted to do so. The prospect of the banks preparing to step in, take over properties and flood the market continues to stymie prospects. More activity can be expected this year if the financial institutions finally act.

The biggest single casualty has been Templemore. The town has all but died since the garda recruitment ban was introduced: the rental market has collapsed and it is nigh impossible to sell a house.

A lot of investors – including gardai with several buy-to-let properties – have been badly burned and repossessions have already taken place.

There is evidence that the banks have started to lend again for purchase of family homes in the population centres, but they are still being mighty picky about the details.

The Prices:

2-bed apartment:

Jan 2013: €55,000

Jan 2014: €55,000

Jan 2015: €56,000

3-bed terrace:

Jan 2013: €70,000

Jan 2014: €70,000

Jan 2015: €72,000

3-bed semi in town:

Jan 2013: €100,000

Jan 2014: €100,000

Jan 2015: €102,000

4-bed estate house in town:

Jan 2013: €175,000

Jan 2014: €175,000

Jan 2015: €179,000

3-bed bungalow in town:

Jan 2013: €170,000

Jan 2014: €170,000

Jan 2015: €173,000

3-bed bungalow out of town:

Jan 2013: €150,000

Jan 2014: €150,000

Jan 2015: €153,000

4-bed bungalow outskirts of town:

Jan 2013: €175,000

Jan 2014: €175,000

Jan 2015: €179,000

4-bed bungalow out of town:

Jan 2013: €135,000

Jan 2014: €135,000

Jan 2015: €138,000

Irish Independent

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