Property Focus: Waterford offers good value and relaxed lifestyle
Waterford: Value and proximity to the coast are key attractions for property buyers.
One of the positive trends noticed by Waterford city auctioneers during the pandemic is an increase in Dublin city buyers moving south in search of value and a more relaxed lifestyle.
Given the high prices in the capital, it is likely that such a buyer would be astonished at the affordability in Waterford city where average property prices are also lower than those in Cork, Limerick, and Galway cities.
A search on a popular website throws up a selection of different sized apartments in the city for less than €90,000 and shows that the €500,000 you might spend on a semi-d in Dublin will probably buy you a substantial detached house.
“We have had sales and enquiries from people selling up in Dublin — some have connections to the city but others don’t,” says John Rohan of Sherry FitzGerald Rohan, noting that value and proximity to the coast are usually the key attractions.
While tourist guidebooks provide information on the city’s Viking past and the location of its beaches, it’s often the auctioneers who provide information to buyers planning a move to the city.
“One of the things they will find out is that the Dunmore Road near the University is the most sought-after address in the city,’’ says Remax’s Margaret Fogarty, explaining that houses in this area include everything from modern three-bed semis to large detached Georgian houses.
“In the city, you can buy a three-bed semi for €185,000 to €190,000 but you will pay a bit more for one on the Dunmore Road.’’
She said that despite the difficulties of Covid and lockdowns, demand has been steady even though there is now a shortage of second-hand properties.
“You have buyers moving here from Dublin but you also have people looking to trade up for more space to work from home,’’ she says, noting that the demand has been pushing prices up.
While the supply of second-hand properties in the city is diminishing in lockdown, purchasers have the option of buying in one of a small number of new developments currently under construction.
One of these is Arbourmount in Ferrybank where Sherry FitzGerald Rohan is currently listing eight four-bed semis priced at €325,000. Auctioneer John Rohan is also offering buyers the opportunity to register interest in Ormond — a planned 72-house development in Kilbarry.
Castleview on the Williamstown Road is a new 23 house development being sold by DNG Reid & Coppinger which has 2,650 sq ft four-bed detached houses priced at €645,000 and five-bed, 2,950 sq ft ones at €685,000.
“Since launching last year we have already gone sale agreed on two of the 23 houses,’’ reveals auctioneer Thomas Reid.
Frisby Homes also has two developments under construction, including a 60-house one at Foxwood in Kilbarry. Of the first 30 houses released, nine remain — six three-bed semis priced at €269,950 and three for €285,950. The second 30 houses in the 60 house development are due to be released in late spring.
At Knightswood in Williamstown, Frisby homes now has 19 properties left in a 55 house development, with prices ranging from €295,999 for a three-bed semi to €385,000 for a detached four-bed. The major share of the remaining properties are four-bed semis priced at €355,000.
At the upper end of the property market in Waterford, No 9 The Fairways is a modern detached property (2,920 sq ft) situated in the grounds of Faithlegg House Hotel overlooking the greens of the golf course.
Sherry FitzGerald Rohan says the location is picturesque and within commuting distance of the city, while the 2001 built property is an impressive family home.
“Accommodation includes two sitting rooms, a kitchen diner, a study, and a utility room as well as five first floor bedrooms, three of which are en suite,’’ reveals auctioneer John Rohan.
The property is located ten kilometres from Waterford city.
: Perfect for a golfing enthusiast in search of a trade up.
An exceptionally spacious trade up, The Hermitage in Grantstown has five bedrooms and an entertainment area which takes up the entire first floor.
Seeking offers of €750,000 for the 3,300 sq ft property, selling agents DNG Reid and Coppinger say this is a superb family home in a very sought after location.
“It’s 2.5 kilometres from the city centre and is close to Waterford University Hospital,’’ says auctioneer Thomas Reid.
The ground level has a spacious kitchen diner, two living rooms, a utility room, a bathroom, and five bedrooms, two en suite, while the first floor is given over to a huge games room/ TV room with a bar.
: Could attract a Dublin buyer wanting to trade up more affordably outside the city.
The small number of new developments currently under construction in Waterford city include Arbourmount in Ferrybank where selling agents Sherry FitzGerald Rohan have recently released a phase of ten four-bed semis.
“This is the second phase at Arbourmount a small development of 20 houses on Rockshire Road. Launched in January these are spacious 1,600 sq ft four-bed properties priced at €325,000,’’ says auctioneer John Rohan, who has already gone sale agreed on the first two.
He says the attractions for buyers include the location just two kilometres from the city centre and provides easy access to the M9, the N25 and the Waterford bypass.
: Spacious, modern and energy-efficient with all the advantages of being new.
All that a first-time buyer could ask for at an affordable €200,000 guide price is on offer at 59 Hazelbourne on Cleaboy Road.
So says Margaret Fogarty of Remax who believes that the 1990s built three-bed semi offers very good value for money.
“It’s a very well maintained modern family home with a sunny south-westerly aspect to the rear which is located within easy reach of Waterford Industrial Estate and Waterford Institute of Technology.”
There’s 970 sq ft of accommodation, which includes a sitting room, bathroom, and three bedrooms, one en suite.
It's a 15-minute walk from Waterford Institute of Technology and three kilometres from the city centre.
: much more affordable than similar properties in most other cities.
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