New homes on the up

IN the first half of 2016, according to the Property Price Register, 21,000 properties changed hands in Ireland — at only 1pc of the total housing stock, it is an unnaturally low figure. The lack of delivery of new homes has been a core problem with less than 50pc of the required number built in the first half of the year. However, the next quarter looks a little better. September is always a popular month for new launches and this year is no different. Sherry FitzGerald is expecting a busy few months with units launching in no less than 10 developments around the capital.

Marina Village in Greystones was launched only last weekend, the first major development of new homes in the town — bar the 25 units at Wood Group Homes’ large development — for many years. According to Ivan Gaine, director of new homes at Sherry Fitz, there was a turnout of 3,500 at the launch, helped along by the sunshine, and 65pc of the available units were sold. September sees additional units in developments around Dublin including Clontarf, Rathfarnham, Knocklyon, Clonsilla, Castleknock, Walkinstown, Ashtown and Stepaside.

DNG are launching units over the coming weeks in six developments in commuterfriendly locations including Shankill, Kiltipper, Ballycullen, Leixlip and Celbridge. Next up is a mix of three-bed semi-detached and detached units, at Castlegrange, Castaheney on September 10. Prices have yet to be released. Knight Frank are launching a mix of three- and four-bed semis, from €295,000 at Hollywoodrath in Hollytown shortly.

What is encouraging is that we’re finally seeing a flow of new homes at the size and price range where demand is greatest. While many launches involve a small number of units or large family homes not of interest to first-time buyers, it seems the market is at last moving in the right direction.