Cork Property Thread

Outkast_IRE wrote: »

Bishopstown is an odd one , as mentioned above no town centre . Wilton is as close to a centre as you get.

There is massive attraction to bishopstown though , very close to the two universities and CUH, some of the biggest employers in the city . Might be the best served suburban area for buses , cycle lanes etc. Well regarded primary and secondary schools.

However I do think it's just getting busier and busier with traffic making it less attractive in that regard.

But alot of the houses are a good size , in estates with decent green space and are generally quiet enough with little trouble .

Bishopstown doesn't seem to have a central hub. The closest thing would be Wilton shopping center but that's on its last legs and really outdated. I still think if the much talked about Wilton redevelopment ever happens it will completely benefit the town. Obviously with a more efficient traffic / parking system.

the beer revolu wrote: »

Sydney Park is lovely.
You're essentially in the city centre but with a real leafy suburb feel to it.
Very desirable.

Wow that place has shot up in asking prices. I was looking to buy somewhere close to the city centre back in '12 & that park was highly recommended to me by people from Cork. Think there was one house on sale there at the time but by the time I contacted the EA an offer had been accepted. Checked the property register just now & it sold for €320k. The asking price was less as that would have been well above my budget.

I worked in Bishopstown for a few years, it's fine but not somewhere I'd personally like to live. Hawkes Road used to make the traffic reports every day 'til the bypass opened as far as I remember. A lot quieter now I'd imagine.

Outkast_IRE wrote: »

2012-2013 was rock bottom for prices - one of my older colleagues bought a decent 3 bed semi in blackrock for 100k cash from a distressed seller. Worth significantly over 300k these days and he only put about 20k of work into it.



Plenty of absolute bargains picked up at the time for people trying to get on the ladder. Best time in about 2 decades for 1st time buyers. Wont see the likes of it again for a while id say. The Austerity progammes is no longer the favoured ECB or IMF tactic in a recession , instead its the opposite , send cheap borrowed money out to the market.

Another property crash coming within 2/3 years, economy is goosed atm so anyone with cash will clean up as usual, social /affordable mixed housing badly needed

corks finest wrote: »

Another property crash coming within 2/3 years, economy is goosed atm so anyone with cash will clean up as usual, social /affordable mixed housing badly needed

Hard to know the pent up demand out there is unreal, even if there was another recession it would be hard to see it eliminating the level of demand there is . Most of my friends and colleagues are at a stage where they were saving to buy before covid 19 none of them lost their jobs so they have managed to save more the last year than ever before , think cork prices are up 5% this year when they were predicted to drop due to covid.

Outkast_IRE wrote: »

Hard to know the pent up demand out there is unreal, even if there was another recession it would be hard to see it eliminating the level of demand there is . Most of my friends and colleagues are at a stage where they were saving to buy before covid 19 none of them lost their jobs so they have managed to save more the last year than ever before , think cork prices are up 5% this year when they were predicted to drop due to covid.

Demand if anything will be worse, prices will rise so much ordinary working class folk won't be able to afford anything, government will have to build affordable housing no other option

opus wrote: »

I did end up buying in the end in 2013, nowhere near as good a deal as your colleague got but still below the asking price at the time. A friend of mine bought in '14 & think it was around then things had turned as he ended up paying more than asking due to several people bidding the price higher.

No chance for a lot of ppl, niece is in Brown Thomas, 3days a week can't work any longer as she's an autistic 3yr old, her partner is a full time electrician and they just can't get enough together for a decent deposit, they're not on their own

corks finest wrote: »

No chance for a lot of ppl, niece is in Brown Thomas, 3days a week can't work any longer as she's an autistic 3yr old, her partner is a full time electrician and they just can't get enough together for a decent deposit, they're not on their own

I would agree with you , unless you have both partners working decent jobs , forget about a 3 bed semi or similar in city or suburbs.

A friend of mine was in a similar situation and he ended up buying a tidy little house in Cloyne. It gives you an idea of how far out you need to go before a standard enough single income is enough to buy.

opus wrote: »

Wow that place has shot up in asking prices. I was looking to buy somewhere close to the city centre back in '12 & that park was highly recommended to me by people from Cork. Think there was one house on sale there at the time but by the time I contacted the EA an offer had been accepted. Checked the property register just now & it sold for €320k. The asking price was less as that would have been well above my budget.

I worked in Bishopstown for a few years, it's fine but not somewhere I'd personally like to live. Hawkes Road used to make the traffic reports every day 'til the bypass opened as far as I remember. A lot quieter now I'd imagine.

AFAIK that place is on the market for a few years now. Might be overpriced?

Outkast_IRE wrote: »

Yeah they are grand spots, but he is only there as he was priced out of the city, immediate suburbs, and even towns like Midelton are nearly reflective of city prices at this stage.

Depressing stuff for a single person looking to buy in the city suburbs

Outkast_IRE wrote: »

A colleague of mine bought a fairly decent split level apartment with outdoor area recently in a decent development . He utilised the Rebuilding Ireland home loan scheme which is worth looking into particularly for 1st time buyer on single income.

With the rebuilding ireland loan for example on a 50k single income you could go up to a maximum purchase price of 320k - with max borrowing towards it at 225k - through traditional banks without exemptions you would be 3.5x income so 175k

So it will bring more properties into scope for sure.

Yeah, don't want to buy an apartment though. I know, beggars can't be choosers like, but I still don't want to live in an apartment...

I have decent savings so I would be able to get something if 3 bed semis were about 30k cheaper.....

I don't really need help in that way but at the same time the prices are still out of reach - I want as small a mortgage as possible.

It's complicated! Thanks though, I'll take a look at it

Gamb!t wrote: »

I never heard of that, is it only for apartments or houses also?
Are the interest rates high on the loans?

Either , no interest rates are lower than banks. For first time buyers, there are some set criteria you have to meet. I think you have to be rejected by a few banks but thats easy if you are asking more than they want to lend you. Its just paperwork , hassle but you are getting a very good loan, at a good rate if you can deal with jumping through the hoops.

Just google it, will bring you straight to the website.

For anyone looking an inner city areas, worth being aware of the areas covered by the Living City scheme as it will really help with renovations on older (pre 1915) houses.

Map is here & info here.

Think if I was looking now, I'd aim for one of the older houses on the south side of Blarney St with the fantastic views over the city.

Deleted User wrote: »

Its even funnier its called wilton

But I know the area, its in at the back of that estate and fairly quiet. However i would be conscious of the old line behind which could become of the west cork greenway if it ever happens.

Actually being near the greenway would make it more attractive to me. Safe path to town? Sign me up.