Positive signs for new home buyers as supply is starting to pick up

New homes supply is picking up pace across Cork city and county, but not in any sort of volume to curtail the steady rise in prices, writes Tommy Barker, Property Editor

Arderrow housing development on the road between Fox & Hounds pub, Ballyvolane, and White's Cross, where four-bed terraced homes of 1,584 sq ft start from €475,000. Picture: Eddie O'Hare

New homes supply is picking up pace across the expanded Cork city metropolitan area, and across the county, from east to west, but not in any sort of volume to curtail the steady rise in prices, as home hunters – and first-time buyers – can readily attest to.

Back five years ago, private buyers could have hoped for a ‘standard’ starter three-bed home of c.1,100 sq ft for under €300,000. Now, the starting point for many is coming in around €320,000, and that’s not even for a three bed terraced home or townhouse, it’s for a two-bed. So, as prices incrementally ratchet up, you are getting less house, for more money.