Wednesday 18 September 2019

Tipperary North: Property shortage the main hurdle for 2015

Average price: €140,000
Areas: Nenagh, Thurles, Roscrea, Borrisokane, Templemore
Up: + 10%
One Year Forecast: + 5%
Assessing Agent: REA Eoin Dillon

Last year got off to a slow start, reports Nenagh-based agent, Eoin Dillon, but activity increased over the course of the year.

"By the middle of October, we ran out of stock to sell," he says.

Tullamoylan which went on the market last summer and was sale agreed in October for €252,000
Tullamoylan which went on the market last summer and was sale agreed in October for €252,000

"Everything went in the six weeks from the start of September.

"Investors were busy because of the ending of CGT relief and first-time buyers, who had been sitting on their hands for two years, decided to take the plunge.

Tipperary North
House Types201420152016
3-bed semi in town, €100,000 €110,000 €116,500
4-bed semi in town, €120,000 €130,000 €136,500
3-bed terrace, €60,000 €70,000 €73,500
2 up 2 down, €60,000 €70,000 €73,500
2-bed apartment, €55,000 €47,500 €62,000
2-bed cottage, €80,000 €90,000 €94,500
Ex-corporation 3 bed, €25,000 €30,000 €31,500
4-bed detached estate, €160,000 €180,000 €189,000
4-bed detached out of town, €130,000 €150,000 €157,500
3-bed bungalow in town, €140,000 €150,000 €158,000
3-bed bungalow outside town, €130,000 €140,000 €152,000
4-bed bungalow on the outskirts of town, €175,000 €190,000 €199,500
4-bed bungalow outside town, €150,000 €165,000 €173,500
Detached 2000+ sq ft, €230,000 €250,000 €262,500

"Now we have a real shortage of properties, and our biggest challenge in 2015 will be to get those properties in and on the market.

There's nothing being built and there are no ghost estates as such in Nenagh.

NENAGH: Killnasala, an estate in Richmond, Nenagh, where houses are bought before they are even advertised. Dillon always has clients ready to buy houses there.
NENAGH: Killnasala, an estate in Richmond, Nenagh, where houses are bought before they are even advertised. Dillon always has clients ready to buy houses there.

However there are a couple of estates with perhaps five or six houses still to be finished."

Dillon sells more three-bed terraced houses in Nenagh than anything else and saw the price of a typical example go from €60,000 to €70,000 over the past 12 months, an increase of 17pc.

"Family homes are always in demand, while investors are looking for smaller townhouses," he says.

Dillon is hoping the mooted 20pc deposit requirement will not be implemented.

"It's not been thought through properly and what's being proposed is a blanket solution to cover a problem that really only exists in certain fashionable areas of Dublin.

"If it came in now, we would have no family home market in North Tipp at all.

How can a guard and a teacher possibly get a deposit of €26,000 together for a four-bed semi in Nenagh? There needs to be a sliding scale."

Independent.ie Guide to House Prices in Ireland

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