Anyone else considering buying in Cork City?

Blue Badger

There are lots of threads in this forum discussing new builds in Dublin but to me Cork is the second city of Ireland (apologies, Belfast) and what's more is a lovely place to live. I've been considering in particular New Builds down there for a while and was wondering what people thought of it?

Is anyone else here considering it as opposed to the rat race in Dublin? Yes, the prices are still quite high yet relative to the capital it's not at all terrible.

From doing some digging online re the Ireland 2040 plan it seems that Cork has been forecast as the fastest growing city in Ireland for the next two decades and there's much talk of the long-awaited Cork Luas stretching from Mahon in the East all the way out to Ballincollig. It's reportedly to grow by 125,000 people within that time (not including growth within the wider county itself).

I've no idea how Covid-19 may or may not impact all of that but there's certainly a lot to be said for the place. It seems logical to me that any such increases in population can also only bring about substantial increases to house prices longterm? A bit like a small Dublin before it lost the run of itself?

From keeping an eye on new builds there are a few areas in particular that look great though in chatting to estate agents thus far there also seems to be a touch of madness cropping up too. Have been told first hand of certain phases selling out within minutes of email alerts going out to those registered which seems terrifying in its own right (especially if not able to see a show-house prior to buying).

Have any of you had positive house-hunting experiences in the city? Negative? Any surprise learnings from those enduring it or those who've come out the other side?

Outkast_IRE

We bought several years ago , and currently have friends and family on the hunt now. It has all the same issues as Dublin just obviously on a smaller scale.

New build prices are extortionate , and any scheme the government thinks up is just added on to the price . Alot if the new build estates are actually outside of the city and at the edge of subarbs so be careful that they are provided with footpaths , cycleways , bus routes etc. As cork is traditionally terrible at connecting up new estates located at the margins .

Alot of my work colleagues are from outside of cork and were all saving to buy here originally but with the WFH after taking off will buy back in Kerry or rural and come to the office only occasionally.

That being said I do think prices are high but attainable for existing housing stock in many areas, many of these houses would be a walkable of cycle distance to the city centre

Blue Badger

Outkast_IRE wrote: »

We bought several years ago , and currently have friends and family on the hunt now. It has all the same issues as Dublin just obviously on a smaller scale.

New build prices are extortionate , and any scheme the government thinks up is just added on to the price . Alot if the new build estates are actually outside of the city and at the edge of subarbs so be careful that they are provided with footpaths , cycleways , bus routes etc. As cork is traditionally terrible at connecting up new estates located at the margins .

Alot of my work colleagues are from outside of cork and were all saving to buy here originally but with the WFH after taking off will buy back in Kerry or rural and come to the office only occasionally.

That being said I do think prices are high but attainable for existing housing stock in many areas, many of these houses would be a walkable of cycle distance to the city centre

Is interesting to hear that so many are back in their hometowns but I'm in the same boat for the time being though that's more so due to a combination of lockdown itself and the WFH; it makes it easier to save a deposit.

And fully agree about some of the new estates... Am keeping an eye on some new builds in Glanmire but I'd be worried about the council / developers connecting the dots so to speak. I think Ballincollig may be at the top of my list atm though that's also one area in particular that's gone a bit mad.

Am hoping that the Council will take on a lot of lessons learnt from Dublin when it comes to how they implement changes to public transport over the next few years.

Dubhurler4

We were in a similar situation a few years back and moved from Dublin to Cork. We’ve settled in Ballincollig and it has fantastic facilities...excellent regional park, GAA pitches, soccer pitches and clubs to suit everyone I reckon. If you have small children, the change in quality of life is immeasurable. You spend much less time commuting and more time to do the things you enjoy. There seems to be a bit of pent up demand with housing atm. With a lot of people WFM, everyone’s house seems smaller and so they are looking for more space if they can afford it.
I’d suggest renting in an area before buying. If the move doesn’t work out, it’s a lot easier reverse the decision. We rented for 2 years.
In terms of buying, my preference is for 2nd hand as opposed to new builds as they then to be in more settled estates, have bigger sites and larger gardens.

Outkast_IRE

Dubhurler4 wrote: »

We were in a similar situation a few years back and moved from Dublin to Cork. We’ve settled in Ballincollig and it has fantastic facilities...excellent regional park, GAA pitches, soccer pitches and clubs to suit everyone I reckon. If you have small children, the change in quality of life is immeasurable. You spend much less time commuting and more time to do the things you enjoy. There seems to be a bit of pent up demand with housing atm. With a lot of people WFM, everyone’s house seems smaller and so they are looking for more space if they can afford it.
I’d suggest renting in an area before buying. If the move doesn’t work out, it’s a lot easier reverse the decision. We rented for 2 years.
In terms of buying, my preference is for 2nd hand as opposed to new builds as they then to be in more settled estates, have bigger sites and larger gardens.

I agree with you about the renting , especially when you are not familiar with the city.

Location will depend on what you want , would you like to be walkable distance from city centre, as this is achieveable in cork in many areas , or would you be happier in an area further out ?

Smiley11

Very tough secondhand market at the moment but you should have a far easier experience in purchasing a new build. If I were to choose between both areas, it would be Ballincollig hands down. Infinitely better amenities & a fantastic regional park. Glanmire just doesn't have a patch on it & won't for the foreseeable future.

Outkast_IRE

Smiley11 wrote: »

Very tough secondhand market at the moment but you should have a far easier experience in purchasing a new build. If I were to choose between both areas, it would be Ballincollig hands down. Infinitely better amenities & a fantastic regional park. Glanmire just doesn't have a patch on it & won't for the foreseeable future.

A far easier experience buying a new build ? Yeah you could be paying tens of thousands more for the privilege in an inferior location generally .
New builds ain't all they are cracked up to be , one of my colleagues bought in a well known one recently and we snagged it for him (we are engineers) and there were well over 300 items snagged in a standard house . Alot of them were indefensible but unless you are in construction you may never even look for them .

Ballincollig and Glanmire are both grand spots each has pros and cons .

Dolbhad

For some reason Ballincollig as never appealed to me and I’ve spend loads of time there. The new builds would be very expensive there but it’s a sought after area so can justify it.

Glanmire I’m worried is getting very built up. Is has about 2 or 3 new build estates on the go.

There is a lot more activity on the south side. I think Blarney is a bit of a hidden gem as only one new estate gone up recently and it’s now in city boundary. However Tower has 2-3 on the go.

I was watching prices of new builds last few years and a 3 bed semi can be 30-40k more expensive than 2017/18. I believe HTB and stock has contributed to this.

The main issue is Cork still doesn’t have that many new build estates really. And not on a big scale so when a new phase opens up, the demand will more. This puts pressure on the second hand market which seems to be holding up. And some areas of the city haven’t had new builds in a long time.