Property prices explode as demand surges for Waterford seaside properties

Dunmore East has seen the prices of some homes jump 40%

In addition to holiday home buyers estate agents have been selling returning locals, some UK buyers, retirees and people moving out of cities.

Property prices in the picturesque seaside village of Dunmore East on the south east coast have gone “through the roof” this summer.

That’s according to Keith Palmer of Palmer auctioneers who estimates that prices in some cases have gone up 40% on last year — with much of the price pressure being caused by an increased demand for holiday homes

Prices for three-bed holiday homes in the village are, he says, once again hitting the levels they were at in ‘the Boom.’

“We recently listed a three-bed semi at Pine Cove with a guide of €250,000 and it has now gone sale agreed for €351,000,” he says, adding that this is quite remarkable given that he sold another house in the development for €195,000 last year.

'We see a lot of cash buyers who have sold properties in Dublin and want to buy holiday homes.'

Earlier this year, he sold a modern detached three-bed holiday home at 10 Hook View for €400,000, which was €50,000 above its guide. The fact that the same property is listed as selling for €255,000 back in 2016 also shows the extent of the price increase.

As with other coastal towns around the country, Dunmore East village has also seen an increased number of buyers since the pandemic who are becoming either part time or permanent residents.

“In addition to holiday home buyers we have been selling returning locals, some UK buyers, retirees and people moving out of cities,” says Mr Palmer.

“We see a lot of cash buyers who have sold properties in Dublin and want to buy holiday homes.”

Options for cash-rich buyers seeking spacious homes include Auskurra House and Ashbury House which are two of the most expensive properties to come on the market in Dunmore East village for many years.

Priced at €1. 75m and €1.295m respectively, both are on the market with Margaret Fogarty of Remax, who says they are attracting interest in the local, national and international market. She says increased demand coupled with lack of supply has caused prices to rise considerably for properties at all levels .

“We are now seeing multiple bidding on most properties and many homes achieving well in excess of their asking prices,” she says, observing that buyers are willing to pay premium prices for sea views and a central village location.

Last year Ms Fogarty sold Cove House, a five-bed semi-detached period property for €90,000 above its €750,000 guide price — a price she says had a lot to do with its exceptional sea views.

Thomas Reid of DNG Reid and Coppinger says: “We recently closed a sale of a €750,000 holiday home and have agreed another at the same level,”

Mr Reid has made quite a number of sales this year to people who fell in love with Dunmore East during a staycation last year and returned this year to buy holiday homes.

“Holiday homes that were selling for €250,000 last year are making in excess of €300,000 this year,” he says, adding that the vast majority of his sales in the last 12 months have been holiday homes — although he has also seen an increase in returning locals buying family homes.

Mr Reid says the highest number of sales have been of holiday properties costing in the region of €300,000, which are now in very short supply.

The Lookout, Dunmore East €595,000

Situated in a cul de sac of large individually built detached houses, built in the early 2000s, No 23 The Lookout is a spacious modern dormer home located within easy walking distance of the village and the beach in Dunmore East. 

Quoting a guide of €595,000 for the four-bedroom three-bathroom property, which has over 2,200 sq ft of living space, Thomas Reid of DNG Reid Coppinger says it’s a meticulously maintained family home. It has been attracting good interest and just this week Mr Reid received a bid of the asking price. “Around 50% of those who looked at it were interested in buying it as a holiday property or second home,” he says. Many of those who viewed it were returning locals while some were people who had fallen in love with Dunmore East while staycationing in the area.

VERDICT: Spacious and comfortable for living or for holidaying

Dunmore East €650,000 

Distant views of Dunmore Harbour and a fully fitted out detached home office are among the attractions at 26 The Lookout, a modern detached five-bed house with a guide of €650,000.

Selling agents Palmer auctioneers say the 2003-built house with 2,150 sq ft of living space is an excellent family residence.

“It’s on a large corner site, has a south west facing rear garden and is within a short walk from the village and Lawlor’s Strand,” says auctioneer Keith Palmer.

Providing two large reception rooms and five bedrooms — including two en suites as well as gardens with decking and a home office with broadband — the property is expected to appeal to local trade-up buyers in Waterford as well as ones leaving cities attracted by the idea of settling in a picturesque harbour village.

VERDICT: The space, location and detached home office could tick a few boxes.

Killea Road, Dunmore East €330,000

The demand for holiday homes in Dunmore East is so high this summer that Palmer auctioneers don’t anticipate any difficulty in finding a buyer for this pretty red and white cottage-style property at 18 Bayview on Killea Road.

Built in the 1990s, it’s a three-bed end of terrace house on a large corner site. with over 1,100 sq ft of living space. Quoting a guide of €330,000, auctioneer Keith Palmer says it’s tastefully decorated and also very well located within one kilometre from Lawlor’s Strand. Accommodation includes an open plan kitchen dining living space as well as a bathroom and two bedrooms, one en suite, and a mezzanine bedroom upstairs. Fitted with double glazing, it has an E2 energy rating. The property is currently advertised on the internet as a holiday rental costing €1,400 a week in August.

VERDICT: Pretty and coastal, which is what you want for holidays.

Kilmacomb, Dunmore East €1.295m

Ashbury House at Kilmacomb offers all the living space a trade-up buyer could possibly want or need. 

As well as the generous interior accommodation, A 4,500 sq ft house with five bedrooms, six bathrooms and a 900 sq ft games room on the attic floor, It has 2.5 acres of gardens and a 1,500 sq ft detached garage which could be turned into a very sizable home office.

Margaret Fogarty of Remax auctioneers says the 2008 built property has been built to a high standard and is wired with network cable and fitted with a 16 Channel CCTV system.

“Homes of this quality and scale are rare to the Waterford market,” she says, adding that interest is coming from returning expats, buyers relocating from cities, and locals looking to trade up. Located 4km outside Dunmore East, it’s 5km from Woodstown Beach.

VERDICT: Enough space for any family — or a B&B.