New launch in Cork targets pent-up demand Long-awaited development on public transport route launches this weekend in Glanmire, writes Liadan Hynes

BALLINGLANNA, the latest new development from the O’Flynn Group, launched yesterday. Within walking distance of Glanmire, and 10 minutes from Cork City, the large project includes two-, three- and four-bedroom homes. Situated just 8km from Cork’s centre, with direct bus routes, it is expected to be popular with commuters, as well as those working in the nearby Eastgate Business and Retail Park.

This weekend sees the release of the first 40 homes of what will, upon completion, be 600 units in total.

There is a mixture of six different house types included in this launch. Two-beds, approximately 80sqm, will be priced from €247,000; three-bed townhouses from approximately 99sqm are priced from €295,000; three-bed semi-detached units from approximately 101sqm are priced from €315,000; with larger three-bed semis, approximately 119sqm, priced from €327,500.

Four-bedroom semi-detached units, at approximately 133sqm, are priced from €380,000 and four-bed detached units, at approximately 177sqm, are priced from €485,000.

Roughly 10 of the houses released this weekend are four-bedroom units, the remaining 30 are a mixture of two- and three-bedroom homes.

Apartments, as well as a sports hall, creche, community centre and retail units, will follow in further phases.

These units are being sold from a marketing suite and completion of this first phase is due early next year.

The most active cohort of buyers in the Cork new homes market are starter home first-time buyers, accounting for 47pc of Sherry FitzGerald Cork’s new homes sales in 2018. Where 2017 saw the first sods being turned on new estates, 2018 saw the handover of early-phase homes and the sale of further phases. Sherry FitzGerald’s sales in 2018 increased by approximately 22pc on the previous year, with the new homes’ Cork branch agreeing over 200 sales — 65pc of their transactions were under €350,000, while another 26pc were in the €350,000-€500,000 bracket.

“Last year was really the first year we saw the Help to Buy scheme take hold,” says Paul Hannon, of Sherry FitzGerald Cork.

As of the middle of last year, the Cork branch has cleared any stock left over from before the crash, and they are now only selling developments launched since the market began to pick up. “Supply is still far less than demand,” Hannon adds.

Savills Cork also have a number of recently launched new home developments on their books that will appeal to first-time buyers, including Heathfield in Ballincollig, which launched in December 2018. Phase one of that launch sold out, and phase three is due to launch next month. AGENT: Sherry FitzGerald Cork (021) 427 3041 VIEWING: Marketing suite by appointment