Saturday 15 December 2018

Tipperary South: Slow but steady in south Tipperary

22 Anne Street, Clonmel, sold last April for €195,000
22 Anne Street, Clonmel, sold last April for €195,000

House price increases in south Tipperary have partially been kept in check by the absence of British buyers, who were last year deterred from purchasing cottages and hunting lodges in the region because of sterling's decline against the euro, and uncertainty about their prospects due to Brexit.

"The English are a huge market for that type of property and we saw a big drop-off in enquiries from them because of sterling," says John Stokes of REA Stokes & Quirke.

Locals and returning Irish emigrants - especially tradespeople - are helping to offset the loss of British buyers for cottages, which became attractive in the absence of new developments and planning for self-builds.

"Because of restrictions in planning laws, they are willing to buy cottages out the country and extend them," Stokes says. "That market picked up a good bit."

While the price of an average two-bed cottage climbed 7pc to €105,000, prices for a three-bed semi in town - the most popular urban house type in south Tipperary in 2017 - rose 3pc to €165,000 and are set to climb a further 3pc by the end of 2018.

"I saw definitely more activity, but the lack of stock is a real critical factor for first-time buyers and trader-uppers, especially in the €100,000-€200,000 bracket," Stokes says. "And rentals are going bananas: if you put up an ad on Daft, the property is gone the next day. You could pay €900 for a good three-bed semi in Clonmel.

"No one is laying blocks in Clonmel. The last development was the Kylemore estate, which was finished out and the houses sold. The extra costs associated with the new building regulations in regards to energy efficiency are prohibitive, so builders of new estates would need to get close to €200,000."

The most popular areas to buy in south Co Tipperary currently are Colville Road and Cahir Road in Clonmel. Cashel Road would be the most popular spot for first-time buyers.

Nearby Kilsheelan and Fethard are also attracting workers from Clonmel, who are happy to take on the commute in return for a three-bed semi.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Editors Choice

Also in this section