Sunday 15 September 2019

Kilkenny: Demand on the up as buyer confidence recovers

Average Price: €155,000
Areas: Kilkenny City, Thomastown, Callan
Up: + 7%
One Year Forecast: + 6%
Assessing Agent: Sherry FitzGerald McCreery, Kilkenny City

The last twelve months has seen the return of buyer confidence in Kilkenny.

Cash buyers who had been sitting in the wings became very active, and our local expert, Peter McCreery of Sherry FitzGerald McCreery in Kilkenny City says there is good demand across all property types.

9 The Fox Covert, Mount Juliet Estate, Thomastown, Kilkenny, sold in February 2014 for €1.4m.
9 The Fox Covert, Mount Juliet Estate, Thomastown, Kilkenny, sold in February 2014 for €1.4m.

An acute shortage of available housing stock continues to be a problem, as very few building projects began in the last year, and there is very little in the way of ongoing construction.

McCreery expects new construction sites to open up in the latter half of 2015, with those properties being completed in 2016.

Kilkenny
House Types201420152016
3-bed semi in town, €115,000 €135,000 €143,000
4-bed semi in town, €170,000 €200,000 €212,000
4-bed detached, €250,000 €270,000 €286,000
5-bed detached, €320,000 €340,000 €360,500
3-bed bungalow in town, €125,000 €135,000 €143,000
3-bed bungalow outside town, €130,000 €140,000 €148,500
4-bed bungalow in town, €220,000 €240,000 €254,500
4-bed bungalow outside town, €200,000 €215,000 €228,000
"Detached 2,000+ sq ft", €360,000 €385,000 €408,000
2-bed apartment, €75,000 €80,000 €85,000
2 up/2 down, €85,000 €95,000 €100,500
3-bed terrace, €110,000 €125,000 €132,500
2-bed cottage, €95,000 €105,000 €111,500
Ex-corporation 3 bed, €100,000 €120,000 €127,000

"There are a lot of dormant sites around Kilkenny," he explains, "many of them with planning issues to be resolved.

"But once planning is secured, construction will get underway. I am aware that a number of builders are actively seeking development land in the city."

KILKENNY CITY: Good quality detached 4-bed family homes on the Freshford and Castlecomer Roads constructed in the last 10 years.
KILKENNY CITY: Good quality detached 4-bed family homes on the Freshford and Castlecomer Roads constructed in the last 10 years.

Mortgage finance is still an issue, with buyers needing to have all their 'i's dotted and 't's crossed in order to release funding.

"Those buyers lose out to cash purchasers," says McCreery, "and I don't see that situation changing unless banking policy changes."

The ongoing appeal of Kilkenny, says McCreery, has much to do with its compact size, with the 300 degree ring-road ensuring that everywhere is five minutes from the city centre, and everywhere is accessible.

"I always say that Kilkenny is a great city in which to work, rest and play."

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