At 51.8%, Watergrasshill recorded the highest percentage (by eircode area) of sales from new dwellings in The Avondhu area in the 12 months to October 2018.
The figure comes following the release of the GeoView Residential Buildings Report for Quarter 4 2018.
In total, 2,107 residential addresses in Cork were added to the GeoDirectory database in 2018, followed in neighbouring Avondhu catchment counties by Limerick (502), Waterford 464 and Tipperary (307).
Nationally, 21,207 dwellings were added to the database, with the vast majority of these new addresses, as expected, located in Leinster region (65.6%), with Dublin accounting for over a third (35.2%) of the overall total.
There were a total of 5,403 residential property transactions in Cork in the 12 months to October 2018, with 17.4% of these being new dwellings, yielding an average property price of €248,362; Limerick saw 2,074 transactions, 13% new dwellings (€185,969); Waterford 1,392 (13.7% – €170,690) and Tipperary 1,424 (9.4% – €141,854).
NEW BUILD SALES FIGURE HIGH IN WATERGRASSHILL
Out of 83 total transaction in the Watergrasshill area (by eircode), over 50% of sales were from new dwellings, bringing an average property price of €271,084. Tjhis figure was significantly in excess of the national average of 20.7%.
An indepth look at the figures shows the following breakdown locally, according to eircode area: Fermoy (131 total transactions; 6.1 % being new dwellings; Average property price €170,992); Mitchelstown (58, 15.5%, €172,414); Carrignavar (19, 0.0%, €310,526); Glanmire (184, 34.8%, €307,609); Watergrasshill (83, 51.8%, €271,084); Cahir (64, 4.7%, €104,688); Mallow (495, 6.5%, €148,687) and Midleton (284, 12.3%, €236,268).
Cork’s average residential property price at €248,362 is lower than the national average of €284,546, an increase of 12.4% across twelve months, equating to €2,289 per month. Kinsale was the town in Cork with the highest average price (€406,667).
Cork’s vacancy rate at 4.2%, is lower than the national average of 4.8%.
BREAKDOWN OF HOUSING STOCK
The GeoDirectory database shows that there was a total of 1,993,672 residential dwellings in Ireland in December 2018. Out of this total, detached dwellings accounted for the largest share at 33.4%, followed by terraced (27.7%) and semi-detached (24.4%) dwellings.
Apartments account for 9.1% of the total residential stock, representing an increase of 2,567 or 1.4% on December 2017. GeoDirectory classifies an apartment as any dwelling which exists in a building of five or more dwellings.
GeoDirectory was jointly established by An Post and Ordnance Survey Ireland (OSi) to create and manage Ireland’s only complete database of commercial and residential buildings.
The figures are recorded through a combination of the An Post network of 5,600 delivery staff working with OSi.