- Average ‘sold price’ of a house in Cork in H1 2018 was €286,501 while in H1 2019 the average price was €264,552 – an 8% decrease
- Prices dropping in places such as Carrigaline, Ballincollig and Skibbereen while Youghal and Macroom see substantial prices rises
The average ‘sold price’ for houses across Cork in the first half of 2019 has dropped by 8% when compared to last year, according to new research by Perfect Property, Ireland’s innovative property search engine.
The average sold price of a house in Cork in H1 2018 was €286,501, while in H1 2019 the average sold price was €264,552, a decrease of 8%.
An analysis of the figures also reveals those area that have seen the most dramatic fall in sold prices across Cork. Skibbereen has seen house prices drop by 19% between H1 2019 and H1 2018, while in Ballincollig and Carrigaline, sold prices have dropped a significant 13% and 6% respectively.
Other areas, however, have seen an increase in price. Youghal has incurred the biggest increase, with house prices 24% higher in H1 2019 compared to H2 2018, followed by Macroom up 22%, Kanturk up 19%, Blarney up 15%, Kinsale up 12%, Douglas up 11% and Fermoy, Cobh and Mallow seeing a 4% increase.
When broken down further, the figures showed an 11% increase in average sold price between Q1 2018 and Q1 2019, whereas there was a 21% decrease in the average sold price when Q2 2019 is compared to Q2 2018.
This research was carried out by search platform Perfect Property, which features properties from a range of estate agents including REA, Knight Frank, REMAX and Sotheby’s. Currently the average price of property uploaded to the website every day is €20.3m, with new properties worth €142m added every week. The platform has a wide range of user-friendly features, meaning it is fast becoming the property search portal of choice for home buyers and sellers, as well as those seeking a new rental property.
Commenting on the recent figures, Laura Pollard, Managing Director of Perfect Property, said:
“Our research shows a very dynamic housing market in Cork, with considerable regional variation in sold prices. Reviewing achieved sold prices, rather than listing prices, is key to understanding the true state of the market. While Cork is down 8% as a whole, the lack of growth has not been experienced in all areas, with Youghal, Macroom, Kanturk and Blarney showing an increase in sold prices, so the research has produced varied and interesting results.”