South Tipperary is experiencing a mini-boom with house prices up 18% on average across all property types. Like North Tipp, it has seen one of the highest annual house price inflations in Ireland.
Prices have also risen sharply, prompting people to buy, but the scarcity of supply has increased competition among potential buyers.
There is a lot of demand for all properties, with the exception of apartments which are still slow to sell.
With good employers like Boston Scientific, Merck Sharpe and Dome and Abbott in Clonmel, there is also an indirect benefit to adjacent towns such as Cashel and Fethard. The strength of the labor market combined with poor supply fueled inflation.
- Average price €210,000
- Areas Clonmel, Tipperary City, Cashel, Cahir, Carrick-on-Suir, Fethard
- At the top
- One-year forecast
- Assessment officer REA Stokes & Quirke
Movers have made up a large part of this market and many are Tipp-born workers returning home for the value of bricks and mortar, and the lifestyle benefits of living close to the Galtee and Knockmealdown mountains.
Returning buyers are also drawn to Cashel or Cahir charms.
|type of house||2021||2022||2023|
|SEMI 3 BEDROOMS IN TOWN||€180,000||€200,000||€215,000|
|3 bed semi out of town||€155,000||€185,000||€200,000|
|4 bed Semi In Town (estate)||€220,000||€250,000||€265,000|
|4 bed semi out of town||€185,000||€225,000||€240,000|
|4 beds detached in town||€285,000||€315,000||€330,000|
|4 bed detached out of town||€195,000||€260,000||€275,000|
|5 beds detached in town||€330,000||€360,000||€390,000|
|5 bed detached out of town||€245,000||€375,000||€400,000|
|3 bedroom bungalow in town (outskirts)||€220,000||€250,000||€270,000|
|3 Bedroom Bungalow Out of Town||€200,000||€230,000||€250,000|
|4 bed bungalow in town (outskirts)||€260,000||€300,000||€320,000|
|4 bed bungalow out of town||€220,000||€260,000||€280,000|
|Detached 2000+ square feet||€365,000||€420,000||€450,000|
|One bed apartment||€50,000||€70,000||€80,000|
|Two bed apartment||€75,000||€115,000||€125,000|
|3 bedrooms Terrace||€120,000||€145,000||€155,000|
|2 bedroom cabin||€118,000||€140,000||€150,000|
|Ex-council 3 beds||€100,000||€120,000||€130,000|
The biggest increase was recorded for medium to large rural houses offering the most space for money.
Average prices for individual T4s increased by 33pc, from €195,000 to €260,000.
Larger homes over 2,000sqft with some land are now changing hands for an average of £420,000, up 15pc
The supply has become a real problem for first-time buyers, but they are now more inclined to move around the county to take advantage of it.
Real Estate Hotspot: Fethard
Three half-beds here fetch around €235,000 per minute.
Three-bed tractor-trailers cost an average of €200,000, up 11%, but still affordable by national standards.
Four-bed tractor-trailers average $265,000 in city estates (+14pc) and $225,000 outside.
City apartments now cost an average of €70,000 for a single bed and around €115,000 for a two-bed. Two-bed rural cottages cost an average of €140,000.
Local expert John Stokes hopes a number of new developments will come on stream this year, but fears builders are moving slowly, due to concerns over rising labor costs and Covid 19.
Stokes says there is value outside of big towns like Clonmel.
For example, an A-rated four-bed detached house near Cahir will cost around €270,000.
A three-bedroom bungalow on a half-acre outside of town costs an average of €230,000, while a four-bed should sell for €300,000.
“Movers are looking for good broadband and good schools,” says Stokes.
“The market will be strong this year, but I think we will see a slower rate of growth.” About 6 pc is expected.