Fernwood properties start at competitive €290,000

THE tried and tested three-bed semi is the barometer of the real property market - and going on demand the evidence is of a still healthy market.

So says estate agent Don Murphy, who is launching a scheme of 240 new homes in Glanmire in Cork. "This house type has seen 15% capital appreciation in the last year. Buyers who bought at the start of last year for €230/240,000 now have an equivalent home selling for €285,000," he notes. "It would be difficult to see things going on as strongly, but there will be 5% growth minimum this year too."

His comments come as he forecasts a strong take-up for the 240-house scheme Fernwood, which launches this weekend with Murphy Construction, which has a firm foothold in Glanmire's strong housing market.