West Cork Property

In the ever-evolving landscape of the West Cork and Irish property market, the latest SCSI Property Market Monitor offers invaluable insights for both buyers and sellers. According to the report, estate agents nationwide anticipate a 4.5% increase in national property prices over the next twelve months. However, while 77% of respondents agree that prices are on the rise, they also expect this upward trend to stabilise soon. So, what does this mean for you as a buyer or seller in the Cork and West Cork property market?

High Demand Meets Limited Supply in Cork and West Cork

Despite a slight improvement in supply, the demand for properties in Cork and West Cork remains robust, far outstripping what’s available. Buyers and sellers need to understand that the predicted 4.5% increase is an average across Ireland. This figure is influenced by various factors, including location, property condition, and broader economic conditions. For the Cork and West Cork property markets, it’s crucial to assess local dynamics and consult with a professional estate agent who can provide a tailored valuation specific to your property and area.

The Impact of Location and Property Type in Cork

Location continues to be a significant factor in property valuation and demand. While remote working trends have led some buyers to explore properties further from urban centres, many families still prioritise proximity to amenities. Interestingly, properties in prime locations within Cork, even with lower energy ratings (BER), are attracting considerable attention. For instance, a property I am selling in Bishopstown, Cork, despite having a BER of F, received 50 viewings and offers well exceeding the asking price. This illustrates that a prime location in Cork can often outweigh concerns about energy efficiency, especially when buyers are aware of grants available to improve a property’s BER.

In West Cork, towns like Bandon, Kinsale, and Clonakilty are experiencing strong demand from families looking to trade up. These buyers are particularly interested in larger, detached homes within commutable distances to local amenities. Such properties in West Cork are highly sought after and achieve premium prices.

Coastal and Rural Properties: A Niche Market in Cork and West Cork

Coastal properties in Cork and West Cork continue to be in high demand, attracting interest from buyers from Dublin, the UK, and the USA. Additionally, there is a growing trend of equestrian buyers seeking country homes with land and stables. However, these types of properties are in short supply, making them a premium choice for those lucky enough to find them.

Doer-Upper properties: A Tougher Sell

On the flip side, properties requiring significant renovation are slower to move. The high costs of renovation, coupled with a shortage of labour and the time commitment involved, deter many potential buyers. While the vacant property grant has provided some relief, allowing buyers to qualify for up to €50,000, this amount is often insufficient given today’s construction costs. I urge the government to consider increasing this grant on a case-by-case basis to make more vacant and derelict properties in Cork and West Cork viable options for homebuyers.

Conclusion: A Busy Market with Limited Stock in Cork

The current property market in Cork and West Cork is active and bustling, with plenty of buyers eager to find their dream homes. However, the challenge remains—there simply isn’t enough stock to meet the demand. Whether you’re buying or selling, it’s more important than ever to stay informed, work with a knowledgeable estate agent, and make strategic decisions that align with the latest market trends.

Ready to make a move in Cork or West Cork?

Whether you’re looking to sell or find your dream home, our experienced team at DNG Galvin Estate Agents is here to help. Click here to contact us today for a personalised consultation and let us guide you through the dynamic Cork property market with confidence. Your property goals are just a call away.

Follow us on Facebook