Friday 19 January 2018

Glut of new houses on the market as Dubliners avoid commuter belt areas

DURING the boom many Dubliners were happy to buy in south Kildare and Carlow. Now this demand has evaporated.

Charlie McDermott of Sherry FitzGerald McDermott said it was very difficult to sell new homes in a town such as Tullow, Co Carlow, where as many as 280 new houses are available at various stages of construction. "People prefer to buy second- hand in walk-in condition."

In Athy, Co Kildare, he said that three-bed semis were selling for between €65,000 and €100,000 depending on their size. The smaller 950-sq-ft semi might fetch €65,000, while a larger version in Branswood, Athy recently sold for about €95,000. At the peak these would have sold for €230,000 -- a 59pc drop. Rents come in at €830 a month.

As well as demand from commuters falling, supply has also increased due to job losses, emigration and repossessions.

Irish Independent

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