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Cork Property Thread

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  • #2


    There's a busy commercial property thread but no general thread for residential I think.

    I've been keeping an eye out for a while. Looking to switch in the Douglas/Rochestown area but very limited options. If the kids weren't in school here already I'd be looking further afield.

    Pricing seems all over the shop. Some places are priced way too high and end up selling a lot lower. Others seem to be deliberately underpriced with a view to generating a bit of interest.


  • #2


    There's a busy commercial property thread but no general thread for residential I think.

    I've been keeping an eye out for a while. Looking to switch in the Douglas/Rochestown area but very limited options. If the kids weren't in school here already I'd be looking further afield.

    Pricing seems all over the shop. Some places are priced way too high and end up selling a lot lower. Others seem to be deliberately underpriced with a view to generating a bit of interest.

    They are under priced to generate interest and they won't actually sell it for that price even if your the only offer as I found out on one house.
    There was one house I bid on, 240k asking, I went in at 250k it went for nearly 275k. I'm sitting it out for a bit till demand comes down, its mad out there.


  • #2


    I've been looking to buy for about 10 years.....still not there! You'd imagine I'd be in a good position now but prices are still crazy for a single person buying, unless they are earning the big bucks. I've nearly given up in the last 2 years but still have hope that prices will go down a bit at some stage. There is a serious lack of stock in the city suburbs too.:(


  • #2


    leahyl wrote: »
    I've been looking to buy for about 10 years.....still not there! You'd imagine I'd be in a good position now but prices are still crazy for a single person buying, unless they are earning the big bucks. I've nearly given up in the last 2 years but still have hope that prices will go down a bit at some stage. There is a serious lack of stock in the city suburbs too.:(

    The help to buy has driven up the price of new builds which has driven up the price of second hand homes. I reckon atleast 2 years before we start to see prices to come down.


  • #2


    rob316 wrote: »
    The help to buy has driven up the price of new builds which has driven up the price of second hand homes. I reckon atleast 2 years before we start to see prices to come down.

    Great :( There's nothing around the 250k mark really that won't end up going above asking price so I don't even bother. I'm trying to hold out hope but it's getting to be more of a pipe dream as the years go on :pac: The new builds are ridiculously priced.


  • #2


    IMO trading up is harder than buying for the first time. I spent nearly a decade going to viewings, making offers (with mortgage approval). The agents didn’t want to know unless your own house was sold. Frustrating to say the least.
    I can’t imagine many sales are happening this year unless they have changed their tune.


  • #2


    Cork and Dublin City Councils are taking part in a pilot program for tenants to swap council houses.
    It even mentions being able to swap from in different cities/towns.

    https://www.homeswapper.ie/

    I don't have any information beyond the press release from a few weeks ago, but it sounds interesting in terms of allowing people to downsize.

    https://www.corkcity.ie/en/council-services/news-room/latest-news/cork-city-council-launches-online-home-swapping-platform-for-tenants.html


  • #2


    Cork and Dublin City Councils are taking part in a pilot program for tenants to swap council houses.
    It even mentions being able to swap from in different cities/towns.

    https://www.homeswapper.ie/

    I don't have any information beyond the press release from a few weeks ago, but it sounds interesting in terms of allowing people to downsize.

    https://www.corkcity.ie/en/council-services/news-room/latest-news/cork-city-council-launches-online-home-swapping-platform-for-tenants.html

    That has been going on years, you have always been able to swap council houses there is FB pages dedicated to it. Council just throwing there weight behind it now.


  • #2


    leahyl wrote: »
    Great :( There's nothing around the 250k mark really that won't end up going above asking price so I don't even bother. I'm trying to hold out hope but it's getting to be more of a pipe dream as the years go on :pac: The new builds are ridiculously priced.

    Are you set on a new-build? Normally interesting older houses around closer to the city centre. I went for one in Shandon myself although that was during the bursting of the property bubble five years ago.


  • #2


    leahyl wrote: »
    Great :( There's nothing around the 250k mark really that won't end up going above asking price so I don't even bother. I'm trying to hold out hope but it's getting to be more of a pipe dream as the years go on :pac: The new builds are ridiculously priced.

    I'm in the market for a fixer upper with a bit of a site, but even there its impossible they are all been snapped up as rental investment properties.
    I had my heart set on house in my parents estate, it was only a bungalow, that needed to be complete gutted and underpinned but its on a fantastic corner site. Asking €210k, it went for €235k, I just couldn't compete considering it needed 100k renovation too.

    The new builds aren't too bad, my friend bought off the plans for a new place in carrigtwohill. 3 bed semi, nice garden, 270k after HTB.


  • #2


    opus wrote: »
    Are you set on a new-build? Normally interesting older houses around closer to the city centre. I went for one in Shandon myself although that was during the bursting of the property bubble five years ago.

    Not at all! I’d actually prefer a second hand house but there’s nothing affordable there either, anything that is affordable either needs a lot of renovation/redecorating or there is a lot of competition and going over asking price and I’m not prepared to go too much over asking and make an idiot of myself. The new houses, of course, are ready to move into obviously but I think they are very expensive - 275k for a 2 bed terraced house for example in that new housing estate in Glanmire? Madness! I think I’m prob gonna have to bite the bullet soon though, can’t live at home forever :-D!

    I would want a house though in the suburbs not in the city centre and not something tiny - I mean, I know I’d be living on my own but would hope it won’t be that way forever ;-) would love a 2/3 bed semi. They were affordable during the recession like, but I missed the boat then :-(


  • #2


    leahyl wrote: »
    Not at all! I’d actually prefer a second hand house but there’s nothing affordable there either, anything that is affordable either needs a lot of renovation/redecorating or there is a lot of competition and going over asking price and I’m not prepared to go too much over asking and make an idiot of myself. The new houses, of course, are ready to move into obviously but I think they are very expensive - 275k for a 2 bed terraced house for example in that new housing estate in Glanmire? Madness! I think I’m prob gonna have to bite the bullet soon though, can’t live at home forever :-D!

    I would want a house though in the suburbs not in the city centre and not something tiny - I mean, I know I’d be living on my own but would hope it won’t be that way forever ;-) would love a 2/3 bed semi. They were affordable during the recession like, but I missed the boat then :-(

    I found the same. I was looking at houses in Turner's Cross, Douglas and Blackrock for a good bit. A lot of the houses we viewed were older and in need of a bit of work to modernise them a bit. We could maybe swing the mortgage but there would be nothing left over for decoration/furnishings or to have work done to the house. I wish I was in a position to buy a house during the last downturn. A relative bought a house in Dublin on their own during that time that they wouldn't be able to afford today. I guess it's all about timing.


  • #2


    leahyl wrote: »
    Not at all! I’d actually prefer a second hand house but there’s nothing affordable there either, anything that is affordable either needs a lot of renovation/redecorating or there is a lot of competition and going over asking price and I’m not prepared to go too much over asking and make an idiot of myself. The new houses, of course, are ready to move into obviously but I think they are very expensive - 275k for a 2 bed terraced house for example in that new housing estate in Glanmire? Madness! I think I’m prob gonna have to bite the bullet soon though, can’t live at home forever :-D!

    I would want a house though in the suburbs not in the city centre and not something tiny - I mean, I know I’d be living on my own but would hope it won’t be that way forever ;-) would love a 2/3 bed semi. They were affordable during the recession like, but I missed the boat then :-(

    Well if you do look at any houses needing renovation, I'd highly recommend sticking the areas on this map & having a read of the info the Living City Initiative. It worked out well for me, a lot of bureaucracy to work through but the reward was very much worth it. It's running 'til the end of next year as far as I remember.


  • #2


    Pay some serious attention to the Living City Initiative, there are some big tax savings to be made for fixer-uppers in those places and it covers a big footprint.


  • #2


    CorkRed93 wrote: »

    There's alot of potential in that to be fair, looks like you could easily build an extension and still have a decent garden.


  • #2


    Looking for Broker recommendations if anyone has any please?

    Used an on-line crowd around this time last year, and have everything good to go, but obviously covid may change things...
    Would like to use a local independent (as in not tied to a bank).

    If anyone has anything to say, good or bad about local brokers used I'd love to hear it - Don't mind PM's if necessary....

    Thanks


  • #2


    RINO87 wrote: »
    Looking for Broker recommendations if anyone has any please?

    Used an on-line crowd around this time last year, and have everything good to go, but obviously covid may change things...
    Would like to use a local independent (as in not tied to a bank).

    If anyone has anything to say, good or bad about local brokers used I'd love to hear it - Don't mind PM's if necessary....

    Thanks

    Would be interested in this also, did you get any recommendations?


  • #2


    rob316 wrote: »
    There's alot of potential in that to be fair, looks like you could easily build an extension and still have a decent garden.

    its the area also, Ballinlough is a decent area and within walking distance to town and a lot of amenties


  • #2


    Would be interested in this also, did you get any recommendations?

    Yes, I've been working with Veronica at cork-mortgage-broker.ie and she has been great.


  • #2


    Cork and Dublin City Councils are taking part in a pilot program for tenants to swap council houses.
    It even mentions being able to swap from in different cities/towns.

    https://www.homeswapper.ie/

    I don't have any information beyond the press release from a few weeks ago, but it sounds interesting in terms of allowing people to downsize.

    https://www.corkcity.ie/en/council-services/news-room/latest-news/cork-city-council-launches-online-home-swapping-platform-for-tenants.html

    That's going on years, maybe not in the exact format as now, but in N of Ireland and England it's v common


  • #2


    keeffo2005 wrote: »
    its the area also, Ballinlough is a decent area and within walking distance to town and a lot of amenties

    It’s in Ballincollig not Ballinlough


  • #2


    leahyl wrote: »
    It’s in Ballincollig not Ballinlough

    ah read that wrong. Rip off so


  • #2


    keeffo2005 wrote: »
    ah read that wrong. Rip off so

    add another 100k onto that if it was Ballinlough I'd say :P


  • #2


    leahyl wrote: »
    add another 100k onto that if it was Ballinlough I'd say :P

    I would actually

    For some reason when I saw it I thought it was the row of houses to your left when you go onto ballinlough Road just after the southern star


  • #2


    Any way back to topic. I've seen a few houses in mercier Park sold recently for between 220 -250 and they are doing works on them now, I'd hazard a guess of 100k going into them. Looking at that and the purchasing costs are houses there honestly worth 320-350, I wouldn't think they are.

    I wonder what area will see the most growth. Personally I stayed away from new estates, its appealing to move into a turnkey but established areas appeal more to me..I look at lehenaghbeg as an example, those houses aren't cheap and they are have plonked hundreds up there without a footpath to get you to the rest of civilisation. I know there are plans but they've been talked about thar for 10 years if not longer. They don't even have a corner shop. Yet I look at the house prices and its insane.

    I think douglas area, not the top of Marlborough or grange/donnybrook, but within 15min walking to the village on each side will see increases. Ballintemple and ballinlough will always rise and have appeal. If I had the money I'd buy in waterfall or the ballinhassig side of spur Hill, still close to the city and have that country feel


  • #2


    Yea when I was looking 2 years back I looked at a house in Mercier Park - complete Reno and was going for 245k at the time ; EA said I was basically buying the site ! It was too much of a stretch for me . It is a lovely park though, great location so I can see the appeal . Some real nice renovated houses in there now. Its the price point for all houses around Turners Cross though really - anything needing work ~250 - ~270 ( std 2- 3 bedrooms) and anything in decent condition - 310 - 330 . Been watching it myself recently and any house that went up for sale since Covid have sold within a couple of weeks. Its very much in demand area currently and again some lovely jobs done on the houses.


  • #2


    keeffo2005 wrote: »
    Any way back to topic. I've seen a few houses in mercier Park sold recently for between 220 -250 and they are doing works on them now, I'd hazard a guess of 100k going into them. Looking at that and the purchasing costs are houses there honestly worth 320-350, I wouldn't think they are.

    I have viewed a couple of them up around there. They have one thing going for them, and that they have a lot of outdoor garden space - especially those houses backing onto the south link.

    For reference I think the SE corner house has an extension out the back and its a 2 story extension. Meant to be epic. But I think the base template of the houses there has poor support for a modern kitchen. Which means you have to change the exterior structure to get it into a state where it will comfortably demand something in the 300s or so.


  • #2


    What is Eagle Valley like for the rental market?


  • #2


    https://www.daft.ie/for-sale/detached-house-harleen-hawkes-road-bishopstown-co-cork/2873002

    what am I missing here? nice location and reasonable finish inside and nice back garden but 600k? there are new builds up the road from this for 500ish. What kind of market is there for a house at this price when you take away FTBS? bought for 310 3 years ago. Second hand market is out of control.


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