Irish prices lure buyers
A COUPLE with a new-born baby daughter, a woman looking to return to Ireland with her two adult daughters after 60 years away, and an investor keen on a Galway apartment purchase — there were all ages, family stages and interests passing through last Saturday’s Sherry FitzGerald Irish Property Fair in London.
Around 200 London-based residents considered a house move to Ireland, in this Gathering year and lifestyle was one oft-quoted reason for considering relocating across the Irish Sea; that and the fact Irish property prices have plummeted 50-60%. Suddenly, buying a home in Ireland is now a very realistic prospect for many UK residents.
“We’d get better value for our money in Ireland,” reckon Orla O’Leary and her husband Peter O’Connor, radiant with eight-week old baby Ellie in tow. They were eyeing up one of the most scenic sites in Ireland, the old Lobster Ponds in Derrynane harbour, Kerry.
More or less admitting they’d be like fish out of water in such a setting, they later spent much time with the Sherry FitzGerald Dublin team — with background in IT/data storage and currently working for banks, they’re about to check out job options. Their own terraced Victorian home near Olympic Park in east London has already gone on the market for sale, so it’s a choice of Dublin, Cork, or a Home Counties 90-minute commute to London for Corkwoman Orla, who has spent 13 years in London. Husband Peter is a Londoner, so they reckon Dublin would be less a cultural change for them than Cork (or Derrynane/Caherdaniel). “I’ve a sister in Dublin and one in Cork, my father told me about this exhibition — and here we are,” said Orla. “We may rent for a while first though, before buying.” Baby Ellie slept through her parents’ conversation and the decisions that may well shape her childhood years.
The display at the London Copthorne Tara Hotel had properties for sale in 23 counties, and “interest levels are well up on last year’s event, and there are genuine buyers”, said David and Gerardine Reynolds of SF Reynolds in Dungarvan. They’d met Irish-born London residents who were 30 to 50 years in the UK who say they can now afford to come back.
Michael O’Donovan of SF O’Donovan in Mallow had just talked to the brother of a man he had sold a e70,000 do-er upper in North Cork to last year, also looking for a renovation investment, while Galway’s Tony Kavanagh had briefed a Donegal man living in London, looking at a e180,000 Galway apartment with a 8-10% rental return on its price.
Some areas, such as West Cork and Kerry, got more UK interest: Clonakilty’s Ray O’Neill has a viewing this weekend of a e1m-plus coastal property as a result of Saturday’s fair, and Kenmare’s Elaine Daly said 50% of SF Daly’s sales last year were to buyers from abroad, with the UK making up 35%.
Looking to up-sticks after decades working as a nurse in London, Kathleen Ryan (that’s her maiden name, she and her daughters Anne-Marie and Louise asked for their family surname to be withheld) is seriously considering a move back to Cork city. Her own father had a big house in Glanmire, but she grew up in the city, and went to school in St Marie’s of the Isle and St Vincent’s in Cork. A move over the Irish Sea may well be on the cards for the close-knit trio of mother and daughters: “We’ll come back first for the Gathering,” said Kathleen with a twinkle.
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