Property Focus: Why it's boom time in Clonmel

O’Connell Street in Clonmel. prices of some homes in the area have jumped 10%. Picture: Dan Linehan

The property market bounce experienced in Clonmel after the first lockdown last summer is being surpassed by the one that is happening now.

That’s according to Pat Quirke of PF Quirke who says that amid very competitive bidding some of the properties being listed have been selling for €30,000, €40,000 and even €50,000 above their guide prices.

“Just a week ago we listed a three-bed semi-d at 7 Glencarra Close for €180,000 — after 15 viewings in three days bidding went up to €190,000,” says Mr Quirke who says that property valuations have now had to be revised upwards.

Noting that prices have in some cases increased by up to 10%, Mr Quirke says the town has not seen this level of price increase since the 2000s boom.

'We are seeing a fair cohort of 25 to 30-year-old buyers moving home to work. This is putting increased pressure on supply' Picture: Dan Linehan

“It’s happening because a large number of people are chasing a relatively small supply of houses,” he says, explaining that no new houses have been built in the town in recent years and that since Covid, Clonmel is seeing an increased number of buyers moving back from Dublin.

“We are seeing a fair cohort of 25 to 30-year-old buyers moving home to work. This is putting increased pressure on supply.”

Dermot Power of Power & Walsh says that between them, the five auctioneers in Clonmel only have 50 properties for sale. “For a town with a population of 22,000 this is minuscule,” he says, adding that prices are increasing by 10% to 15%.

“The last three properties we sold were all gone in a week — all above the listed price. We listed a four-bed detached at 40 Gort na Manach in April for €340,000 and it went sale agreed for €412,000, after 28 virtual viewings.”

Mr Power says the level of price increase on some properties has been astonishing. “We went sale agreed on a house in Ardfinnan last March for €210,000. The sale fell through and we sold it in April this year for €252,000, that’s an increase of €42,000 in a year.”

John Stokes of REA Stokes also reports an increased level of activity in recent weeks and says he seeing guide prices being surpassed. “We recently listed a property in need of TLC for €200,000 and it made €277,000.”

While prices for three-bed semis in the town typically go from €165,000 to €200,000, he says the competition in the first-time buyer market is so strong that many are now selling for above €200,000.

At the top end of the market, scarce period houses are making some of the highest prices. In January this year, Glenview on Colville Road —a large period property in need of modernisation, on the market with PF Quirke, sold for €500,000 — and was the most expensive sale in the town so far this year.

In November Fairy Hill, another period property on the Coleville Road sold for €540,000, €40,000 above its guide.

Auctioneers say that high-priced properties currently listed are continuing to attract very levels of interest. A detached five-bed period property at Hillview, Marfield, is according to selling agents Moynihan Curran on track to go sale agreed for well in excess of its €430,000 guide.

Bidding on a modern five-bed detached property at Bawnard listed with Power & Walsh had, by early this week, risen to €552,000, well above its €495,000 asking price.

Bawnard, Clonmel €495,000 

With a large mature site and accommodation which includes five bedrooms, an office and a sunroom, this detached property at Bawnard outside Clonmel offers space to work, rest and play.

Selling agents for the 3,000 sq ft plus 2009 built property Power & Walsh say it has been built and maintained to a very high standard. It has concrete slab on the first floor and geothermal heating which gives it a high B1 BER rating reveals auctioneer Dermot Power.

Mr Power says: “It’s only been on the market a week but we have three very interested buyers — bidding has already gone above the €495,000 guide price to €552,000.” The property is located 6km from Clonmel.

VERDICT: Country living with comfort, space and a garden stream.

Kilcash, Clonmel €255,000 

A detached five-bed property at 21 Cois Coille in Kilcash village is an option for a buyer having difficulty finding an affordable home in Clonmel town.

Located 14.5 km or a 15-minute drive from the town, the detached 2006 built house has close to 1,500 sq ft of living space and according to John Stokes of REA Stokes & Quirke in immaculate decorative order.

Within a five minute walk from Kilcash primary school and within easy reach of the local wood, it’s expected to attract interest from first-time buyers and those trading up. “It’s on an elevated site with splendid views of the Comeragh mountains and is within a 25-minute drive from both Waterford city and Kilkenny city,” says Mr Stokes.

VERDICT: Offers excellent space.

Fethard Road, €450,000 

Detached, spacious and modern with a guide of €450,000, No 2 Northgate on the Fethard Road is, quite surprisingly, getting more attention from first-time buyers than from those looking to trade up.

“We are getting a lot of interest from professional couples who have been renting in the town are now looking to buy their first home,” says Kate Curran of Moynihan Curran Chartered Surveyors.

Built 15 years ago as part of a development of three houses, it is located one kilometre north of Clonmel. Ms Curran says it has a range of attractive features including 9ft high ceilings, a central vacuum and surround sound as well as a large landscaped west facing back garden. Accommodation includes a kitchen/diner, two reception rooms, four bedrooms and three bathrooms.

VERDICT: You won’t ever need to trade up.

Wheatfields, Clonmel €205,000 

Typical of sort of affordable property that’s being snapped up very quickly in Clonmel in recent weeks is No 39 Wheatfields, a four-bed semi-detached home.

Selling agents P F Quirke & Co say the 1980s-built dormer bungalow is very conveniently located within a short drive from shops in the town centre. “It’s in good condition, is in a great location and would make a good family home,” says auctioneer Pat Quirke.

Offering approximately 1,230 sq ft of living space the property has a kitchen and living room at ground level and four bedrooms and two bathrooms as well as an attached garage.

Mr Quirke says it’s the type of property he expects to sell quickly. By the start of this week it had already been viewed 12 times and had attracted a bid of €200,000.

VERDICT: Quick sale expected.