SKIBBEREEN is emerging as one of the country’s property hotspots with price hikes of almost 20% recorded over the past 12 months.
According to figures just released from the Central Statistics Office, the average price for a house with a Skibbereen Eircode went from €224,521 in July 2020, to €270,188 last July.
In Clonakilty, the price increase was 19%, rising from €255,049 to €303,480 in the same time period.
Bandon had a 13% hike, with average prices rising from €214,642 to €242,714.
These increases are significantly higher than the 8.6% rise in national house prices, in the year to July.
Not surprisingly, Kinsale was the area’s most expensive postcode for both years, although the average house price dipped slightly from €403,432 in 2020 to €402,189 in 2021.
This was the third most expensive postcode in the country outside Dublin, after Greystones and Bray.
Crookstown also saw high average prices, increasing from €361,916 to €380,770.
Dunmanway’s average house prices went from €164,000 to €179,563; and Bantry’s went from €188,000 to €205,451. Macroom also saw a major rise in average house prices, which went from €204,896 to €227,030, and Majella Galvin of DNG Galvin attributes some of the bounce to the development of the town’s bypass.
‘Just this week we went sale agreed on a two-bed cottage on less than an acre that had guided for €320k, and sold for €340k to a city buyer,’ said Majella. ‘A few years ago that would have made in the region of €130k-€150k.’
Local estate agents have sounded some caution when interpreting the CSO figures, as they don’t necessarily reflect increases on all properties right across the board.
Auctioneer Martin Kelleher said the Clonakilty hikes reflected an increase in the amount of high value sales, plus new home sales.
Maeve McCarthy of Charles McCarthy estate agents in Skibbereen said the 20% hike ‘in some instances reflected the reality of the situation.’ More notable, she said, was the speed at which properties were selling. Meanwhile, the area continues to attract lively bidding for coastal properties. In Crookhaven, Journey’s End, which guided €850,000 with James Lyons O’Keeffe is understood to have gone sale agreed to a Cork city buyer for €1.2m.
It’s believed the auctioneer has also gone sale agreed on Ocean’s Rest at Ballyrisode near Goleen which guided €795,000, but has made closer to the magic €1m.