Rental market 'down the country'

H

holly23

Guest
Am looking at buying a house outside Dublin, possibly Carlow or Goery in Wexford, in the 160-200K mark.

Would there be any rental on a house in these areas or is it totally saturated ? I would imagine that a renter could easily buy for the money they'd spend on rent ??

Was thinking I could offer my house for 100-200 euro less a month to ensure rental and good Tennant's.

Any opinions?
 
B

biggerry

Guest
Hi Holly,

I'm not familiar with either of the area's you mentioned, but I was looking at buying a Section 23 apartment in Longford last year. Before I really started looking, I put an advert in the local paper to see what sort of response I got.

I was glad I did, because I didn't get 1 call.
 
D

delgirl

Guest
Have just closed on an investment property in Gorey @ 195,000 and am very optimistic. Gorey is booming - Dunnes have just announced that they're planning to move in, Lidl just openend there recently and two planning applications for new hotels have just been made. If the 'big boys' have done their market research and are happy to move in, then so am I.

The N11 dual carriageway from Dublin is now south of Wicklow, where property prices have really taken off, and will soon join the Arklow bypass and then on to Gorey.

200,000 Euro might not seem like a lot of money to pay for a property in Dublin, but not everyone 'down the country' has that kind of money or security to satisfy the banks.

There are numerous letting agents in Gorey and if they can make a good living out of it, then there's rental business to be had.

By all means, do your research, I spoke to loads of agents,local people the local council planning office etc. before deciding on investing.

The going rental for a 3 bed property in Gorey is 750 per month - you could also buy a property for 200,000 in Tallaght and rent it out for 1,000 per month - depends on where you're located, if you plan to manage the property yourself and what kind of yeild you need.
 
R

rogermure

Guest
Are there any type 23 houses or apartments for sale in Gorey or are they just houses for sale.
I ask because we are looking for a property to use against other rental income but at those returns an regular type house looks good.I hope you don't mind me asking in your discussion.
Roger
 
D

delgirl

Guest
You'd need to phone around the agents in the area and pick their brains. I have found the people 'down the country' to be very friendly, very helpful and willing to freely give any information they have which may be of use to you.
 
R

rainyday

Guest
You'd need to phone around the agents in the area and pick their brains.
I would place very little value on information provided estate agents or letting agents, who have a vested interest in encouraging you to purchase. Do your research independently.
 
D

delgirl

Guest
"I would place very little value on information provided estate agents or letting agents, who have a vested interest in encouraging you to purchase. Do your research independently. "

Rainyday,
I was referring only to the question posed 'is there section 23 property available in the area'.
 
H

hmmm

Guest
Gorey

I'd be careful with Gorey, there's an awful lot of 2nd houses/summer houses in the area - so while sales may be good, it doesn't indicate a local market which will map to rental returns. Similarly, much of Gorey turns into a ghost town in the mornings as people commute to Dublin - those commuters have typically bought in Gorey because they couldn't afford houses in Dublin, not because they want to live there for any intrinsic reasons - again not indicating a great rental potential.
 
D

delgirl

Guest
Gorey

Love the name Hmmm and agree with you - there are a lot of holiday homes in Courtown - not in Gorey itself. Most of the ones available to let are on a short term basis as the owners either want to use them themselves in the summer or they want to achieve high summer rentals and are not prepared to give long leases. A lot of them are also electrically heated, which can be very expensive and puts tenants off. They've also had huge problems with water supplies and sewerage due to, in my view, over development in the Courtown area.

I would say that Courtown is a ghost town during the winter months, but, as someone who spends quite a bit of time in Gorey, would not agree that Gorey is deserted in the mornings.

This is my second property in the Gorey area and the first one let relatively easily - I had 5 tenants to choose from and am very happy with the current tenant. My new property is within 5 mins walking distance of the town centre and was chosen specifically for this reason.
None of us has a crystal ball, so I can only hope that I'm as successful with the second as I was with the first!
 
H

holly23

Guest
holiday homes wexford

Thanks for all the input......we've decided to change track and purchase a holiday home in Wexford for our own use and not rent it at all.

For those of you familiar with Wexford, can you recommend some nice areas for a holiday home.
Looking to spend 150-200K.
Detached and a with a bit of character (although not in the middle of nowhere for security reasons) and near to a nice beach (ideally within a mile but up to 5-10 miles)

I've heard that courtown can be rough ???
Whats Kilmuckridge like ?

Thanks
 
J

jdwexford

Guest
Re: holiday homes wexford

If I wasn't from Wexford, I'd look along the South coast rather than the East.
 
J

jdwexford

Guest
Re: wexford

Because, in my opinion, the east Coast is overdeveloped. It could be Dublin 66 during the Summer!! Look around Kilmore through Duncormick over to the Hook.
 
R

Rabbit

Guest
Re: wexford

There has been too many new apartments and houses built in Carrick-on shannon as well. Property is very difficult if not impossible to let there now. Many other towns in the west and n.west and midlands are getting like that now. What we need are plenty of new factories / jobs coming in.
 
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