Tuesday 18 June 2019

CorkHi12°| Lo

Cork Independent

Home & Property

€1.3 billion of property sales on Leeside throughout 2018

Wednesday, 2nd January, 2019 4:47pm

The sale of San Paula on Orchard Road is the largest one-off property transaction recorded in Cork last year.

Data from the Property Price Register, analysed by property website MyHome.ie, shows that the Sunday’s Well home sold for €1.9 million in January.

While there were bigger transactions recorded in the county for developments, such as the sale of the Elysian for €69.8 million in July, this was the largest sale recorded for a single property.

Other large one-off sales included Scilly House in Scilly, Kinsale, which sold for €1.5 million in June; Kendel, Oakwood, Maryborough Hill, which sold for €1.455 million in August; Ashton in Hettyfield in Douglas, whch sold for €1.4 million in April and Have Hill in Summercove, Kinsale, which sold for €1.3 million in August.

In total, including developments, there have been 27 transactions recorded in Cork so far this year for €1 million or more.

As of the Property Price Register update of 28 November, just over €1.359 billion had been spent on property so far this year in Cork. There were 4,820 sales recorded as of that date, which still has some way to go to surpass the total number of 5,876 transactions recorded in 2017.

The Managing Director of MyHome.ie, Angela Keegan said uncertainty over the outcome of Brexit negotiations was impacting the market, especially at the upper end.

She said: “That uncertainty is hitting the upper end more I think, while the impact of the tightening of the Central Bank lending rules and an increase in stock means house price inflation generally, is slowing around the country. In Q1 asking prices nationally were up 9.5 per cent. By the end of Q3, the rate of inflation had slowed to 5.9 per cent year on year.”

She added: “Double or high single digit inflation is not sustainable so the current trend is positive for the property market as a whole.

“I think 2018 will be remembered as the year when the stock of both new builds and second-hand homes turned the corner. Second-hand stock nationally is up six per cent while the number of new home schemes continues to rise,” she said.

ePaper Service

Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8
Desktop, Tablet & Smartphone friendly
Cookies on Cork Independent website
We use cookies to ensure that we give you the best experience on our website. We also use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on the Cork Independent website. However, if you would like to, you can change your cookie settings at any time by amending your browser settings.
How does Cork Independent use cookies?
Cookies enable us to identify your device, or you when you have logged in. We use cookies that are strictly necessary to enable you to move around the site or to provide certain basic features. We use cookies to enhance the functionality of the website by storing your preferences, for example. We also use cookies to help us to improve the performance of our website to provide you with a better user experience.
We don't sell the information collected by cookies, nor do we disclose the information to third parties, except where required by law (for example to government bodies and law enforcement agencies).
Hide Message