Spring Market Review

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Spring Market Review

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With the launch of our new website in April, we will be publishing market reviews quarterly. In this edition we outline the key findings in Marian Finnegan’s quarterly market review, outline our view of the market and detail a selection of sales which have closed in the period.

Market Overview

Sherry FitzGerald Chief Economist Marian Finnegan has published her Spring Review of the Irish Residential Market (http://www.sherryfitz.ie/research/2662). Key findings are as follows:

  • House prices nationally rose by 2.1% in the quarter in comparison to a 1.9% rise for the first quarter in 2017.
  • Annually to Q1 2018, residential property prices nationally increased by 8.6%.
  • There were 50,900 recorded property transactions in the Property Price Register for 2017, an increase of 14% on 2016.

Sherry FitzGerald O’Neill’s Olivia Hanafin commenting on the findings feels…

“Demand remains strong in West Cork, continuing the trend from the second half of 2017. Property competitively priced is selling. Supply remains the key issue in the market. There is a shortage of quality homes across all price brackets. This is as true in Clonakilty as it is in Castletownbere” .

 

Closed Sales Q1 2018

Property is selling in West Cork. Here is a selection of 4 sales closed in Q1 2018:

 

Gortyowen, Glandore is an attractive coastal 5-bedroom house on 1 acre approximately of mature gardens, enjoying an exceptional setting looking over Glandore Harbour and Union Hall Pier. Closed April 2018 with Sale Price €440,000.

 

“Cir Mhor”, Kilcoe, is an exceptional architect designed coastal residence and guest cottage on 1.4 acres built using the materials from the nearby Church and located in a sought after area with unrivalled coast, island and mountain views. Closed April 2018 with Sale Price €487,500.

 

Driminidy North, Bredagh Cross, Drimoleague is a substantial detached 3 bedroom residence set on 1.7 acre approx of landscaped, paddock fenced grounds set in a quiet, convenient rural location just 6 miles from Skibbereen town. Closed February 2018 with Sale Price €253,300.

 

Reenogreena, Glandore is a coastal, detached and traditional extended house and grounds of 2 acres approximately enjoying a superb location at the entrance to the scenic Glandore Harbour on the West Cork coast. Closed March 2018 with Sale Price of €300,000.

 


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