Thursday 21 March 2019

Kildare North: Lots of choice in northern Kildare

Boycetown Lodge in Kilcock was sold by Sherry Fitz Brady O'Flaherty for €560k in May
Boycetown Lodge in Kilcock was sold by Sherry Fitz Brady O'Flaherty for €560k in May

Kildare North is one of the few locations outside Dublin that has a number of new residential developments on the go. As the capital expands, the market flows out to the north of Kildare, which is fast becoming part of the Greater Dublin area.

There are currently 16 active new home developments in the area, with more commencement notices issued for this year, which should attract more buyers to the county who have been priced out of the Dublin market.

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There is a lot of employment in north Kildare with Intel and Maynooth University, so agent Will Coonan of REA Coonan believes the demand is there for more new homes.

"There is a lot of choice now for buyers," says Coonan. "Maynooth, Celbridge, Leixlip and Kilcock will all have new builds over the next 12 months, but we expect them to sell well because the demand is there, particularly with first-time buyers, who make up about 50pc of the market."

These buyers know what they want and where they want it, according to Coonan. "The first-time buyers are older and a lot more discerning. Before they get to the viewings, they know what they can borrow; they know the cost of financing, they're mortgage-approved and know exactly what they can afford. They're very well-researched," he says.

Property prices are high in this part of Kildare with a four-bed detached house now valued at an average of €490,000.

House values are up by 5pc on average and slowly coming back towards where they were before the crash.

"All the growth happened in the first part of the year and then slowed, in the second" says Coonan. "Prices have been rising since 2015 and this will be the case again in 2019 but at a slower rate."

The trading-up market was busy in 2018. Those who originally bought into the area because it was affordable have now put down roots and don't want to move far. These families are looking to buy detached homes that are now averaging between €560,000 and €670,000, up 3pc from last year.

The investor market has been quiet around Maynooth University, with many being put off making investments for tax reasons, where you may end up paying 20-40pc tax on your rental income, depending on your circumstances.

Coonan notes a generally equal popularity for all the north Kildare towns. It mostly depends on the buyer and where they want to settle and if they have happen to have social ties in the area. As people trade up, they may go from Maynooth to Leixlip, but they never tend to drift outside the north Kildare zone.

The route from Dublin to Kildare North is on the M4, so commuters don't have to deal with the roadworks on the M7 that lead to the southern part of the county.

Coonan predicts further growth of 4pc in the coming year, with apartment values rising a bit higher by about 6-8pc.

Irish Independent

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