Tuesday 20 February 2018

Micro-market puts it out on in its own

Main street, Maynooth, Co Kildare
Main street, Maynooth, Co Kildare
Mark Keenan

Mark Keenan

Kildare North

Maynooth

Up 8%

One Year Forecast: Up 8%

Average Price: €190,000

Assessing Agent: Property Partners Brady

The Market:

Prospective students bound for university life in Maynooth will know all too well the nightmare of trying to find accommodation in the town or surrounding areas.

North Kildare is creaking: a combination of lack of supply and increasing demand. This makes Maynooth a special case in terms of Kildare and prices reflect both the property type and availability of rental accommodation to cater for this young market.

As a town, it's certainly hopping. "If you don't book your table for the following weekend – and that includes Thursday – by Tuesday night you can forget it," according to local auctioneer, Eamon O'Flaherty.

The real problem now is the unwillingness of banks to lend to builders and developers. The issue is now one of supply, not of demand.

The price rises are south-Dublinesque. O'Flaherty sold a duplex apartment in September 2013 for €190,000; a similar property in the same development fetched €215,000 before year end.

The town is well served by a good rail link and motorway but, unlike many other counties on the eastern seaboard, North Kildare is not reliant on Dublin for its prosperity.

The university is a good employer but long-established businesses such as Intel and Hewlett Packard make it a micro-market in its own right.

The Prices:

1-bed apartment:

Jan 2013: €88,000

Jan 2014: €95,000

Jan 2015: €103,000

2-bed apartment:

Jan 2013: €111,000

Jan 2014: €120,000

Jan 2015: €130,000

3-bed terrace:

Jan 2013: €139,000

Jan 2014: €150,000

Jan 2015: €162,000

2-bed cottage:

Jan 2013: €111,000

Jan 2014: €120,000

Jan 2015: €130,000

Ex-corporation 3-bed:

Jan 2013: €88.000

Jan 2014: €95,000

Jan 2015: €103,000

3-bed semi in town:

Jan 2013: €208,000

Jan 2014: €225,000

Jan 2015: €243,000

4-bed semi in town:

Jan 2013: €231,000

Jan 2014: €250,000

Jan 2015: €270,000

4-bed semi out of town:

Jan 2013: €278,000

Jan 2014: €300,000

Jan 2015: €324,000

4-bed detached:

Jan 2013: €417,000

Jan 2014: €450,000

Jan 2015: €486,000

5-bed detached:

Jan 2013: €463,000

Jan 2014: €500,000

Jan 2015: €540,000

3-bed bungalow in town:

Jan 2013: €324,000

Jan 2014: €350,000

Jan 2015: €378,000

3-bed bungalow outside town:

Jan 2013: €278,000

Jan 2014: €300,000

Jan 2015: €324,000

4-bed bungalow in town:

Jan 2013: €370,500

Jan 2014: €400,000

Jan 2015: €432,000

4-bed bungalow outside town:

Jan 2013: €343,000

Jan 2014: €370,000

Jan 2015: €400,000

Detached 2000+ sq ft:

Jan 2013: €556,000

Jan 2014: €600,000

Jan 2015: €648,000

Irish Independent

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