‘Grim picture’ for homebuyers as Cork house prices at a median €330k

A NEW report reveals that as of December last year, Cork has the second highest house prices outside of the capital and the Dublin commuter counties.

The Residential Property Price Index compiled by the Central Statistics Office (CSO), showed that house prices had risen above figures from the peak of the property boom — with Cork county recording a median price of €330,00 for the year to December, and Cork City coming in slightly lower at €292,000.

Cork South Central Social Democrats election candidate Pádraig Rice said the data painted “a grim picture for those wanting to buy a house of their own”.

“Nationally, house prices have risen by 4.4% in the 12 months to December — outside Dublin, house prices were up by a staggering 5.6% and apartment prices rose by 7.7%,” Mr Rice said.

“The median costs of a home is now €327,500 — its more expensive now to buy a house than it was at the peak of the property boom in 2007.

“Home ownership is becoming a pipedream for a locked-out generation,” Mr Rice said, calling for proactive measures to be taken both locally and nationally to make housing more affordable.

An analysis of the figures contained in the CSO report by Cork Eircode’s showed Charleville had the least expensive house prices at €200,000.

This was followed by Dunmanway (€231,000), Mallow (€230,000), Bantry, and Mitchelstown (both €235,000), Youghal (€252,500), Cork Northside (€259,500), Cobh (€260,000), Fermoy (€274,000), Skibbereen (€300,000), and Rylane, Macroom, and Midleton (all at a price of €310,000).

On the more expensive end of the scale, are Bandon (€315,000), Cork Southside (€355,000), Clonakilty (€359,999), Carrigaline, (€364,999), Carrignavar (€365,000), Watergrasshill (€369,000), Glanmire, (€374,999), Ballincollig (€375,000), Crookstown (€385,000), and Kinsale (€435,358).