Property Focus: New homes make Glanmire an attractive option
The suburb of Glanmire was recently integrated into Cork city.
THE availability of new, energy-efficient homes in Glanmire at affordable prices is turning the area into a mecca for first-time buyers from Cork city.
That is according to Rachael O’Leary of Sherry FitzGerald, who says 105 new houses have been sold so far this year at the Ballinglanna development, with more than 70% of these selling to first-time buyers.
A significant development, probably one of the largest in Munster, Ballinglanna will have 600 houses when complete. Offering seven different house types ranging from two-bed terraced houses for €262,500 up to €490,000 for four-bed detached homes, it launched in 2019 when the first 45 houses were sold.
“The phase we launched in February this year sold out in just two weeks and when we launched another in September, 75% of the properties sold on the first day,’’ says Ms O’Leary, adding there are now just three properties left – two four-bed semis and a detached four-bed – but that a new phase is due to be released in February.
Another Glanmire development at Glashaboy View is also proving a hit with first-time buyers. In October this year, when Behan, Irwin & Gosling released the second 20-house phase of the 99 unit development, all 10 three-bed semis, priced at €310,000, sold out quickly
"We have also sold seven four-bed semis and have three remaining ones priced at €360,000, which are attractive to both trade-up buyers and first-time buyers ” says Mark Gosling, who adds another release is planned in the spring.
Both auctioneers have observed a significant demand among first-time buyers for energy-efficient new homes which qualify for the help-to-buy scheme and say that proximity to Cork city (7km from Glanmire village), the Dunkettle Interchange, and the Dublin-Cork motorway makes Glanmire very attractive to them.
Auctioneer Joe Organ, based in Glanmire, says it is not just new homes that first-time buyers are coming to Glanmire to buy.
“They are also buying second-hand properties which offer them slightly better value than they can get in some of the city suburbs,’’ he says, adding that the average price for a second-hand three-bed semi in Glanmire is €275,000.
“Since the '90s, Glanmire has experienced explosive development – and now offers a whole range of services, shops, schools, and sporting facilities and also has improved road infrastructure,’’ he says, adding it usually offers a good supply of second-hand properties.
He says a couple paying a mortgage on a second-hand property costing €275,000 will pay €950 a month, which he points out is a lot more attractive than renting a three-bed semi for €1,500 a month.
Mr Organ says he also sees buyers coming to Glanmire to find more affordable trade-up properties than are available in the city.
“It’s also an advantage for commuters that there are several routes to the city – you can go through Dunkettle or go up through Mayfield and Blackpool,’’ he says.
At present, there are 57 properties advertised for sale in Glanmire on the internet, in addition to the small number of properties remaining in the new developments at Ballinglanna and Glashaboy View.
The Property Price Website has registered 116 sales in Glanmire so far this year, including 44 at Ballinglanna, 10 in Glashaboy View and another 13 in Crawford Woods, a new development listed with Savills, which has now sold out.
Many of the 20 houses released in phase two of the Glashaboy View development sold quickly upon release last month – but three four-bed semis are still available for purchase.
Priced at €360,000, these offer 1,373 sq ft of living space and an A2 energy rating. Selling agent Mark Gosling of Behan Irwin & Gosling says these four-bed semis are proving attractive to both trade-up buyers as well those looking for starter homes.
"We are selling predominantly to first-time buyers with young families moving from the city," he says, noting that Glashaboy View is close to local services and is just 5km from the Jack Lynch Tunnel.
For a price they might spend on a second-hand, three-bed semi in the city, a buyer could get a new energy-efficient four-bed home.
Because this three-bed semi at No 26 Elmgove in Sallybrook has been so well looked after by its owners, selling agent Joe Organ thinks it highly likely it will sell above its €265,000 guide price.
Built in 1999, the property has been upgraded and redecorated in recent years.
"The owners put in a cream fitted kitchen, oak internal doors, a cast-iron fireplace with a stove and a climate thermostat to activate the zoned heating system remotely” says Mr Organ, adding that Elmgrove is located within easy reach of shops, schools and sporting facilities and is within a minute's drive of the M8 Cork/Dublin motorway.
Accommodation includes a kitchen, a living-dining room, a guest WC and a bathroom and three bedrooms, one en-suite.
Expected to attract first-time buyers from the city.
The conversion of an old shop in Glanmire village into a pair of modern three-bed semis provides an interesting option for a buyer looking for an affordable property in the area.
One has already sold but the other, No 2 Woodriver, has just been relaunched on the market by Lisney with a guide of €245,000.
"It’s a very modern property with over 1,000 sq ft of living space, high-end contemporary fittings and fixtures and a high B2 BER rating, says auctioneer Trish Stokes, who already has a bid of €240,000 on the property.
Making good use of space, the property has a living room and a kitchen as well as a pantry, a utility area and a WC at ground level as well as a bathroom and three bedrooms including two with en-suites.
Like a new three-bed semi, but more affordable.
Either of the last two remaining four-bed semis at Church Green in Ballinglanna would do nicely for a house hunter who wants to finish off 2020 by buying a spacious A2-rated new home.
Pricing the 1,438 sq ft houses at €380,000 and €385,000, agents Sherry FitzGerald says thus far these property types have been attracting interest from trade-up buyers as well as first-time buyers availing of the help-to-buy scheme.
The last three properties in the current phases also includes one remaining detached four-bed with 1,926 sq ft of space for €490,000.
Auctioneer Rachel O’Leary says construction on the last two four-bed semis has already started and expects them to be ready for occupation by spring.
All you could want in a new home, including a very high level of energy efficiency.
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