Buyers wait in wings for luxury properties

HOUSE hunters with cash in hand, fed up of sitting on the fence and renting as the property market declined, are expected to make early 2011 moves on some of the best — and now very affordable — new builds in Cork city’s suburbs.

After four years of falling prices, and drops of as much as 50% in value, all of a sudden only the very best homes approach the €1 million price category.

Waiting for that ‘value for money’ penny to drop with buyers is estate agent Catherine McAuliffe of Savills, who now expects the first serious bidders to make a real jump at either of her two remarkable Douglas Road offerings (currently under very low offers each,) and on four other fully-built luxury homes in Rochestown, just significantly price-reduced over the Christmas period.