Sunday 15 September 2019

Kildare North: 'Cautiously optimistic' for family friendly area

Average Price: €275,000
Area:
Maynooth
Up: + 22%
One Year Forecast: + 5%
Assessing Agent: Property Partners Brady

Maynooth is a thriving Kildare university town thronged with students during term time and has a significant rental market, particularly in terms of apartments, to cater for the influx.

Local employers include Hewlett Packard and Intel, and the university itself is another big employer. The town is popular with Dubliners who can't afford the size of property that they want in the city or its suburbs, and are prepared to commute for the sake of a bigger family home.

Moyglare Abbey was sold in 2014 for €410,000.
Moyglare Abbey was sold in 2014 for €410,000.

Maynooth is therefore a target market for families with a busy main street populated by indigenous shops and a shopping centre at either end of the town.

The big problem here is the traffic at peak times.

Kildare North
House Types201420152016
3-BED SEMI IN TOWN, €225,000 €275,000 €289,000
4-BED SEMI IN TOWN, €250,000 €300,000 €315,000
4-BED DETACHED, €450,000 €490,000 €514,500
5-BED DETACHED, €500,000 €550,000 €577,500
3-BED BUNGALOW IN TOWN, €350,000 €500,000 €525,000
3-BED BUNGALOW OUTSIDE TOWN, €300,000 €370,000 €388,500
4-BED BUNGALOW IN TOWN, €400,000 €450,000 €472,500
4-BED BUNGALOW OUTSIDE TOWN, €370,000 €400,000 €420,000
"DETACHED 2,000+ SQ FT", €600,000 €650,000 €682,500
1-BED APARTMENT, €95,000 €120,000 €126,000
2-BED APARTMENT, €120,000 €150,000 €157,500
3-BED TERRACE, €150,000 €180,000 €189,000
2-bed cottage, €120,000 €200,000 €210,000
Ex-corporation 3-bed, €95,000 €120,000 €126,000

Our local estate agent expert for North Kildare is Eamon O'Flaherty of Property Partner's Brady who says his agency has been busy through most of last year.

"From April to October, it was helter skelter. It was hard to keep up," he says.

MAYNOOTH TOWN CENTRE: Good family homes within walking distance of the town centre. Maynooth has good infrastructure, a choice of schools and plenty of employment.
MAYNOOTH TOWN CENTRE: Good family homes within walking distance of the town centre. Maynooth has good infrastructure, a choice of schools and plenty of employment.

But more recently, O'Flaherty says he has seen the market quieten down.

"The real buzz has gone in the last two to three months," he says.

"It's a typical Irish thing. They see something going up and they all want it. And then they see it holding steady or going down and nobody wants it."

O'Flaherty puts the increases over the past year down to the ongoing demand for properties in and close to the town and the fact that there has been no increase in supply.

"If people need to buy, they need to buy. They can't hang around. The economic and employment forecasts have been good, and the expiration of Capital Gains Tax relief at the end of the year was also a factor for investors. So there was pressure to get deals closed before time ran out.

"The proposed new mortgage deposit requirement is one of the reasons things slowed down towards the end of 2014. People are not as keen or as urgent about finding something. They're sitting on the fence a bit, waiting to see what's going to happen."

O'Flaherty says he is "cautiously optimistic" for the year ahead, but does not predict increases in the market on the scale of the past 12 months, and opts for a conservative 5pc increase between now and January 2016.

Independent.ie Guide to House Prices in Ireland

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