Saturday 25 November 2017

Strapped mortgage holders demand turnkey homes

University of Limerick
University of Limerick
Mark Keenan

Mark Keenan

LIMERICK CITY

SUBURBS

Raheen, Dooradoyle, Castletroy, Parteen, Corbally

No change

One Year Forecast: No change

Average Price: €230,000

Assessing Agent: Rooney Auctioneers.

The Market:

Loan approvals were also on the up across the city and suburbs with many bids exceeding the asking prices for the first time in years says Lisa Kearney of Rooneys.

The supply is contracting all the time and there is a paucity of good quality family accommodation in particular.

The university and the local economy continue to attract many people from all over the country and from overseas, creating a buoyant rental market, but investors have been slow to return.

First-time buyer starter home prices are not expected to fall any further and demand is outstripping supply.

Houses in turnkey condition are selling fastest, with buyers fortunate enough to have secured a mortgage saying they don't have any spare money to spend on renovations or refurbishment.

"Prices/reserves are the same as last year but with some, but not all properties, bidding is pushing prices up if there are interested parties. It's not the norm. We envisage the same for 2015", says Kearney.

The Prices:

1-bed apartment:

Jan 2013: €30,000

Jan 2014: €30,000

Jan 2015: €30,000

2-bed apartment:

Jan 2013: €50,000

Jan 2014: €50,000

Jan 2015: €50,000

2-bed terrace:

Jan 2013: €85,000

Jan 2014: €85,000

Jan 2015: €85,000

3-bed terrace:

Jan 2013: €100,000

Jan 2014: €100,000

Jan 2015: €100,000

Ex-corporation 3-bed:

Jan 2013: €45,000

Jan 2014: €45,000

Jan 2015: €45,000

3-bed semi in town:

Jan 2013: €215,000

Jan 2014: €215,000

Jan 2015: €215,000

3-bed semi out of town:

Jan 2013: €150,000

Jan 2014: €150,000

Jan 2015: €150,000

4-bed semi in town:

Jan 2013: €230,000

Jan 2014: €230,000

Jan 2015: €230,000

4-bed semi out of town:

Jan 2013: €190,000

Jan 2014: €190,000

Jan 2015: €190,000

4-bed detached:

Jan 2013: €300,000

Jan 2014: €300,000

Jan 2015: €300,000

5-bed detached:

Jan 2013: €400,000

Jan 2014: €400,000

Jan 2015: €400,000

3-bed bungalow in town:

Jan 2013: €170,000

Jan 2014: €170,000

Jan 2015: €170,000

3-bed bungalow outside town:

Jan 2013: €160,000

Jan 2014: €160,000

Jan 2015: €160,000

4-bed bungalow in town:

Jan 2013: €220,000

Jan 2014: €220,000

Jan 2015: €220,000

4-bed bungalow outside town:

Jan 2013: €180,000

Jan 2014: €180,000

Jan 2015: €180,000

Detached 2000+ sq ft:

Jan 2013: €430,000

Jan 2014: €430,000

Jan 2015: €430,000

Irish Independent

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