A year when cash ruled the roost

It was a game-changing year for Cork’s residential market, says Sheila O’Flynn, MD of Sherry FitzGerald.

This year has proven to be a turning point for the Cork housing market. After six years of falling prices, price inflation has re-emerged most notably in Cork city. The first nine months of 2013 saw the first period of positive, albeit moderate, annual price growth in the Cork housing market since 2006.

Early indications suggest the Cork city market has grown by approximately 5% during 2013. The strength of price growth in Cork city and indeed metropolitan area is fuelled by a shortage of supply.