Wednesday 18 September 2019

Tipperary South: Big demand for dwellings in town

Average price: €145,000
Areas: Clonmel, Tipperary town, Cashel, Cahir, Carrick-on-Suir, Fethard
Up: + 5%
One Year Forecast: + 7.5%
Assessing Agent: REA Stokes & Quirke

"I'm hoping for steady as she goes in 2015," says Clonmel-based agent, John Stokes, who reports that he has seen modest increases in property values in the urban areas of the Tipperary South market.

"After a slow start to the year things got very busy towards the end, and anything competitively priced has sold, but there is still no real change in terms of rural property.

The Old Grove, Woodinstown, New Inn, Cahir, Tipperary, sold in August 2014 for €665,700.
The Old Grove, Woodinstown, New Inn, Cahir, Tipperary, sold in August 2014 for €665,700.

"It's all down to supply and demand and people want to live in town."

In Clonmel itself, there is a shortage of three-bed semis and detached houses in good areas for trader-uppers.

Tipperary South
House Types201420152016
3-bed semi in town, €137,500 €145,000 €156,000
3-bed semi out of town, €85,000 €90,000 €97,000
4-bed semi in town (estate), €155,000 €165,000 €177,500
4-bed semi out of town, €120,000 €125,000 €134,500
4-bed detached in town, €170,000 €185,000 €199,000
4-bed detached out of town, €140,000 €150,000 €161,250
5-bed detached in town, €250,000 €260,000 €279,500
5-bed detached out of town, €175,000 €185,000 €199,000
3-bed bungalow in town (outskirts), €165,000 €170,000 €183,000
3-bed bungalow outside town, €145,000 €150,000 €161,500
4-bed bungalow in town (outskirts), €180,000 €190,000 €204,500
4-bed bungalow outside town, €160,000 €165,000 €177,500
Detached 2000+ sq ft, €260,000 €280,000 €301,000
1-bed apartment, €30,000 €37,500 €40,500
2-bed apartment, €40,000 €45,000 €48,500
3-bed terrace, €75,000 €87,500 €94,000
2-bed cottage, €90,000 €90,000 €97,000
Ex-corporation 3 bed, €52,500 €57,500 €62,000

"There's not much stock," says Stokes, who notes that properties that are well-presented attract a meaningful premium.

High management fees in apartment developments have made those properties "a hard sell" despite reasonable rental potential, adds Stokes, who says most of the apartments on the market are being sold by banks and receivers.

CLONMEL: There is a shortage of supply on Colville Rd, in the Silver Springs estate in Clonmel and in the Powerstown area, where all house types attract a premium.
CLONMEL: There is a shortage of supply on Colville Rd, in the Silver Springs estate in Clonmel and in the Powerstown area, where all house types attract a premium.

Clonmel has several large employers, including C&C, Boston Scientific and Clonmel Healthcare, ensuring a steady supply of people wanting to enter the market and to trade-up.

However, given the agricultural hinterland, Stokes warns that if dairying were "to take a hit" in the year ahead, the entire market would experience a knock-on effect.

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