There are signs that price inflation has cooled off.
But new figures from the Central Statistics Office (CSO) showing that property prices were up by 14.2pc in the 12 months to April compared with 15.1pc in the year to March will be of scant reassurance to Cork’s exhausted house hunters.
Just this month, a two-bed semi-detached house in Blackrock went sale agreed at €400,000, representing a €105,000 (36%) jump over its guide price of €295,000.
The two-bedroom, two-bathroom house in question is located at 14 McGrath Park in Blackrock. According to the CSO data, the median price of residential properties sold in the “T12” Eircode area (Cork Southside) in the year to April 2022 is €321,000 while the national median price of residential properties is €286,000.
“The house in McGrath Park in Blackrock was only listed in the middle of May and in that time until it went sale agreed in the second week of June at €105,000 over its guide price, it has been a hugely popular listing.” Fiona Waldron, Senior Property Negotiator in Auctioneera Cork.
“Number 14 has lots of charm internally with a large back garden bringing plenty expansion potential but its location is the major draw. Property like this in Blackrock and its surrounds are in demand and this was borne out in our high viewing attendance figures for this particular house.
“We are still in a hot market and, as you can see, it is still very competitive out there which might not be what buyers wish to hear.”