Sunday 19 November 2017

Price difference of 200pc between similar homes in two locations

Cavan Market Square
Cavan Market Square

CAVAN

Cavan town, Cootehill, Bawnboy, Bailieborough

Up 5%

One Year Forecast: Up 10%

Average Price: €80,000

Assessing Agent: Sherry Fitzgerald Breathnach.

The Market:

Things appear to be on the up at the other end of the N3 in terms of volumes, but prices have failed to recover and remain around a third of their 2006 values. Location, even within the county, is now probably even more important than the quality of the property for sale.

Cavan town-based auctioneer Tony Breathnach says that at the height of the boom there may have been a 20% differential between two houses of similar quality in different locations – now there is a 200% difference as people seek value. He says too much of the wrong types of houses were built in the wrong parts of the county.

The Dublin motorway doesn't seem to have made the market any more attractive to commuters from the capital (Breathnach notes he has yet to see a traffic jam on it) but many young couples are preferring town estates to the rigours of the planning process for one-off housing and the building costs of a property on their own land.

The Prices:

2-bed apartment:

Jan 2013: €24,000

Jan 2014: €25,000

Jan 2015: €27,500

3-bed terrace:

Jan 2013: €48,000

Jan 2014: €50,000

Jan 2015: €55,000

2-bed cottage:

Jan 2013: €33,000

Jan 2014: €35,000

Jan 2015: €38,500

Ex-Corporation 3-bed:

Jan 2013: €26,000

Jan 2014: €27,000

Jan 2015: €30,000

3-bed Semi in town:

Jan 2013: €72,000

Jan 2014: €75,000

Jan 2015: €82,000

3-bed semi out of town:

Jan 2013: €43,000

Jan 2014: €45,000

Jan 2015: €49,000

4-bed semi in town:

Jan 2013: €76,800

Jan 2014: €80,000

Jan 2015: €88,000

4-bed semi out of town:

Jan 2013: €66,000

Jan 2014: €69,000

Jan 2015: €76,000

4-bed detached:

Jan 2013: €173,000

Jan 2014: €180,000

Jan 2015: €198,000

5-bed detached:

Jan 2013: €183,000

Jan 2014: €180,000

Jan 2015: €198,000

3-bed bungalow outside town:

Jan 2013: €72,000

Jan 2014: €75,000

Jan 2015: €82,000

4-bed bungalow in town:

Jan 2013: €96,000

Jan 2014: €100,000

Jan 2015: €110,000

4-bed bungalow out of town:

Jan 2013: €72,000

Jan 2014: €75,000

Jan 2015: €82,000

Detached 2000 + sq ft:

Jan 2013: €177,000

Jan 2014: €185,000

Jan 2015: €203,000

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