Easy ac­cess, slower growth keep Kil­dare on track

Kil­dare house prices have sta­bilised in the first three months of 2018

The Irish Times - Thursday - Property - - Property Kildare Living -

Houses in Dublin’s biggest com­muter county are still af­ford­able, says auc­tion­eer Ian Smyth of Smyth Naas. “In Naas, a good sec­ond-hand, three-bed semi, built in the 1990s or noughties, will cost from ¤275,000. A four-bed de­tached will cost from ¤450,000.”

That’s the price of a two-bed apart­ment in the cap­i­tal, notes Enda Smith of CME Auc­tion­eers. “Kil­dare is about af­ford­abil­ity. For buy­ers the com­mute dis­tance isn’t a prob­lem. A lot of peo­ple are al­ready com­mut­ing from ei­ther side of the M50.”

Price growth in the county ap­pears to have slowed in the first three months of 2018, ac­cord­ing to the lat­est My­Home.ie prop­erty re­port in as­so­ci­a­tion with Davy. In that same time house prices na­tion­ally rose al­most 5 per cent.

Year on year, the ask­ing price of a three-bed semi-de­tached house in the county has risen by 7.9 per cent from ¤199,250 to ¤215,000, the re­port says. The lat­est in­crease means that the ask­ing price for this house style in Kil­dare is now at its high­est level since the end of 2010.

Prices for a four-bed semi have recorded the same year on year in­crease, br i ngi ng t he me­dian pr i c e to ¤277,500, its high­est in 7½ years, hav­ing reached ¤288,000 in 2010.

For com­muters, the county has some of the best con­nec­tiv­ity within Le­in­ster. Two mo­tor­ways, the M7 and M4, con­nect to the M50. Up­grades to the M7 in­clude a soon-to-open third Naas exit, that will link to a Sallins by­pass.

The train con­nec­tiv­ity is ex­cel­lent, and the per­cent­age of com­muters trav­el­ling to the cap­i­tal by ei­ther train or bus is now at about 60 per cent, says Éa­mon O’Fla­herty of Maynooth-based Sherry FitzGer­ald Brady O’Fla­herty.

“The de­ci­sion to move Sallins into the Zone 1 train travel band has seen a sub­stan­tial re­duc­tion in fares mak­ing the com­mute far more af­ford­able,” says Peter Min­nock, di­rec­tor of plan­ning and strate­gic devel­op­ment at Kil­dare County Coun­cil. Jour­ney time from Naas to Heuston is less than 30 min­utes.

The elec­tri­fi­ca­tion of the train line to Hazel­hatch, Cel­bridge, is an­other plus and he’s push­ing for the same to hap­pen on the Maynooth line.

Ac­cord­ing to O’Fla­herty: “The sec­ond-hand homes mar­ket in the north of the county, com­pris­ing Maynooth, Cel­bridge and Leixlip, is buoy­ant, but while it has shown price rises of about 10 per cent year on year this is slow­ing.”

Trad­ing up

These three towns and Naas, the county town, are the most pop­u­lar places to buy. Naas-based Smyth says those trad­ing up ac­count for 35-40 per cent of the mar­ket. Most of these are lo­cals.

Prices in New­bridge, a slightly longer com­mute time from Dublin, are, on av­er­age, be­tween 10 and 15 per cent be­low those in Naas.

In the south of the county, from Athy down, there is better bang for your buck but it doesn’t have the same in­fra­struc­ture, says Will Coo­nan of Coo­nan Auc­tion­eers. “Here a stan­dard three-bed semi will cost from ¤220,000 to ¤250,000.”

In the sec­ond-hand mar­ket, the num­ber of prop­er­ties listed on My­Home.ie dipped from 881 in 2016 to 764 in 2017 but has bounced back this year with 861 res­i­dences listed to date.

Smyth says most of the big­ger prop­er­ties have been pur­chased by ex-pat Ir­ish, peo­ple com­ing home from the Mid­dle East, the US and Aus­tralia who have built-up good buying bud­gets.

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