Thursday 17 January 2019

New homes schemes offer something for everyone in Cork and Galway

KINSALE MANOR: The first phase had 40pc first-time buyers, 40pc trading down and 20pc second homes
KINSALE MANOR: The first phase had 40pc first-time buyers, 40pc trading down and 20pc second homes

Liadan Hynes

Last year was a turning point for new homes in Cork. "That was when we saw new schemes happening for the first time of any scale since the crash," says Paul Hannon, director of new homes for Sherry FitzGerald Cork.

The help-to-buy scheme has had an invigorating effect on the market, says Hannon: "The scheme has mobilised buyers. We have definitely seen purchasers, who were probably just that bit short of their deposit, mobilised, and first-time buyers really waking up across our schemes. Sub-€350,000 - that's the key price point. We sale agreed 158 units last year. 80pc of those were sub-€500,000, and of those, 50pc were sub-€350,000."

For 2018, the signs are all good, says Hannon, though the recent snows have delayed the start of the season. However, more units are needed. "There's a lot of activity around land at the moment, and that's always a sign that there's new entrants in the market," says Hannon. The O'Flynn Group, for example, is seeking planning permission through the Government's fast-track planning for a scheme of more than 500 units in Ballinglanna, east of Glanmire, a scheme that Hannon points out would be key for first-time buyers.

n This weekend Sherry FitzGerald brings the second phase of Kinsale Manor to the market. The first phase of this development by Gannon Homes was released last August, all three-bed semi-detached properties. Overall, the scheme will comprise 136 three- and four-bed houses. This new phase launches a further 22 three-bed semi-detached units, 112sqm, priced from €330,000. "In the first phase we had approximately 40pc first-time buyers, 40pc trade down, and 20pc purchasers buying a second home," says Paul Hannon - "people using it as a holiday home or renting it out with the intention of retiring to Kinsale eventually." The homes in this phase feature separate living rooms with open-plan kitchens, built-in wardrobes, A3 BER ratings, contemporary fitted kitchens by Express Kitchens, and driveways with space for two cars.

Viewing: Today, 2-4pm

Agent: Sherry FitzGerald new homes - (021) 427 3041


Also launching in Cork this weekend, Savills bring phase three of an existing scheme, Castle Heights in Carrigaline, to the market. This phase consists of 54 houses in total, with 21 being released this weekend. There is a mixture of three- and four-bed semis as well as four-bed detached units, with prices ranging from €310,000 to €440,000.

Viewing: By appointment

Agent: Savills (021) 427 1371


Finally, yesterday saw the launch of a new development in Oranmore, Galway. Ceathru an Tobair will total 30 houses on completion, with approximately 24 launching this weekend. There are a mixture of styles available, mostly semi-detached three- and four-bedroom units, with one block of terraced homes.

Three-bed terraced units are priced from €290,000, and three-bed end-of-terrace from €300,000, with sizes from approximately 106sqm-109sqm. Three-bed semi-detached units start from €305,000, with sizes from approximately 111sqm-114sqm. Four-bed semi-detached units start at €337,500, and are sized from approximately 137sqm-141sqm. Oranmore is located on the eastern approach to Galway, roughly 10km from the city. "There's a major shortage, a lack of supply for new homes," says Tony Kavanagh of Sherry FitzGerald, who are bringing this project to the market on behalf of local developers Oranisland Developments. "There's quite healthy demand for people looking for new homes."

Viewing: By appointment

Agent: Sherry FitzGerald (091) 569 123

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