Sales pick up as prices fall €40,000-€50,000

THE cheapest just got a bit cheaper. When The Miles launched in Clonakilty, Co Cork in August 2007, its prices caught buyers pleasantly by surprise: prices came in about €40,000 or €50,000 lower than other three-beds being built locally.

Now, 15 months later, the already low (for Clonakilty at least) prices have been cut again by the developer as it aims to sell out the rest of phase one. New three-bed semis of 960 sq ft have been brought down from €315,000 to €275,000 and four-bed detacheds of 1,500 sq ft that had been €380,000 are now down to €330,000.

There are about seven houses out of 37 left, says Clonakilty estate agent Kieran O’Gorman, who has been selling jointly with Catherine McAuliffe of Savills.

The full scheme could have up to 120 houses in all, but the indications are that building beyond phase one won’t start until the market picks up more strongly.

The developers are Owen Hurley and Donal McAuliffe of McAuliffe Properties, who opened a new showhouse last month (open this Sunday 2.30 to 5.30pm), and who have sold eight houses in recent weeks since the prices adjustments were flagged.

Buyers have ranged from local teachers, retired couples and people working in Cork city, commuting for the joys of Clonakilty’s coastal and tourism attractions.