Buying in Cork - Carrigaline Area

J

Jildy

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I am thinking of buying a property (3-Bed Semi) in the Carrigaline area for investment purposes. All in all, it will cost me around the 350k mark.

What do the people here think of this?
Do you think there is much growth left in this area or has the ceiling being reached already?
Is it a good place to invest?


Thanks,
J.
 
Anything that goes on the market in Carragiline is snapped up immediatly and it seems to be very fashionable at the moment. I am not sure that I would want to start rearing a family there because I think that in 15 or so years it will be overdeveloped and unmanagable and I would prefer that my kids were somewhere smaller. This of course will be reflected in house prices then.
This is just my openion and I suppose that this could be said about any expanding town.
Carragiline is popular because it is convenient.
 
There has been capital Appreciation above the trend here over the last few years. In Bridgemount for example a 3 bed semi in November 2002
made 180K and it had a huge garden. The same house now should make 320K easily. Thats 77% growth in little over 3 years. Herons Wood, Bridgemount and Dun Eoin should do you well. Letting there has picked up recently. You should get 800 per month.
 
Carrigtwohill would be on the wrong side of Cork for what I want.

I would be looking at

1. Carrigaline
2. Douglas
3. Rochestown
4. Bishopstown
5. Wilton

It is possible that I may eventually ove down to Cork so I would need to be located in one of these areas.

J
 
Last May, we sold a 4bed semi in Herons Wood for €320k, we were just informed it would now be worth €420k. The house appreciated more than €1k per WEEK that we had it. Herons Woods and Dun Eoin are on the right side of Carrigaline - traffic wise - the Cork side. For investment property I would highly recommend either estate. Don't particularly like the ESB lines running through Dun Eoin but I think Herons Woods has a lot more to offer incl a creche. I believe the commercial units are proposed to hold a medical centre, shop, solicitor, etc. Astra Constr. finished the entire estate off to a very high standard.

I would avoid Douglas - traffic is dreadful at any time of the day or night.
Rochestown has a few older estates - well built by McInerney and they also have a lot of apt's - Hartes Quay, etc. I'd consider Carrigaline - with the new Pepsi plant on the Crosshaven Rd and all the industry in nearby Ringaskiddy, you should have no problem renting.
 
Houses in Carrigaline are always cheaper than other areas of Cork because it is believed to be a Rough town with few facilities
 
Jildy said:
Carrigtwohill would be on the wrong side of Cork for what I want.

I would be looking at

1. Carrigaline
2. Douglas
3. Rochestown
4. Bishopstown
5. Wilton

It is possible that I may eventually ove down to Cork so I would need to be located in one of these areas.

J
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What about Riverstick and Belgooly. The are building there right now.
Half Way may be a good choice but I am not sure that there is anything available there.
I have heard that Innishannon is to have a big new developement.
 
Riverstick and Belgooly are very small villages - quite isolated too. If you're hoping to rent for a while before you move to Cork, I don't think they would have good rental potential.

FatRichDude - what suburb in Cork has good facilities? Douglas has a cinema - great - have you checked the price of going to a cinema lately? Carrigaline has (at a minimum) the same facilities as other Cork suburbs - childrens playgrounds, beautiful scenic walks, GAA club, community school provides lots of evening courses, shopping centre, great co-op store, nearby Crosshaven for rugby and sailing.
 
Lorz said:
Riverstick and Belgooly are very small villages - quite isolated too. If you're hoping to rent for a while before you move to Cork, I don't think they would have good rental potential.

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I do not know how either can be described as isolated and I know that they have good rental potential because houses to rent in Kinsale are scarce so many are moving out.
I also believe that Riverstick has great community facilities especially for a growing family.
I do not think that the extra rent that you would make by buying in Carragiline for a few years would make up for having to rear a family there in the future and would certainly be lost in the cost of selling and buying again.
 
Jildy didn't mention a family and didn't mention holding onto the property long term so I didn't think those points were relevant. I still would think they are quite isolated though - each to their own.
 
Hi Jildy,

Living in carrigaline, our house has doubled in price in 3 years, plan to stay here as it has everthing we need and there's douglas/mahon point/kinsale/crosshaven/cork city/ringaskiddy located nearby...best of both worlds...haven't seen any "rough stuff" as mentioned. if investing go for a detached if you have the money...biggest potential and in a few years the demand will be huge for these house types..
 
Thanks for all the replies.

Most of my questions were answered except for one.

Do you think that Carrigaline has all of it's 'increasing in value' potential used up or is it going to continue to rise at a fairly high rate ?
 
Our 4bed semi has increased €100k in the last 12months - so I would think there is still growth in the market. However, I recommend you look at buying a large 3bed semi or a 4bed semi - there is a huge number of 3bed semi's in the area currently. However, these people will be upgrading at some stage to perhaps larger 3bed or 4bed! Our 4bed appreciated more than 3beds in the same estate. Check out Dennehy Auctioneers - Roy Dennehy is very efficient and professional He updates his website daily and has an excellent turn over on property - I was sorry we didn't deal with him!

http://www.dennehyauctioneers.ie/
 
I think that the last post should answer your question. I think that if prices have rissen far more than the average then it can not be sustained.
 
There is excellent potential for capital appreciation. I was talking to an auctioneers today -a 3 bed town house in Herons wood made 317,500.
3 bed semi's in Bridgemount are making 330K, Dun Eoin 340-345.
 
892896 said:
There is excellent potential for capital appreciation. I was talking to an auctioneers today -a 3 bed town house in Herons wood made 317,500.
3 bed semi's in Bridgemount are making 330K, Dun Eoin 340-345.
Click to expand...
But you are still talking about past performance.
 
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