How to buy house of paynes in Cork
In Cork’s most affluent suburb, the seaside town of Derry has been on the market for months, with a number of properties listed for sale on the local stock exchange.
The city of Cork, where house prices have risen by 25% since last year, is one of the most expensive cities in Europe.
It has seen a surge in the number of people wanting to buy houses in the last few years, with demand increasing for houses at prices that are more than twice the average price in Ireland.
Some of the homes being advertised for sale in Derry are listed for more than €1 million.
However, prices are being reduced by €1,500 for every month a property is on the list.
The house hunters and house hunters clubs in Drynach are on alert, as they are worried that if they do not act quickly, a surge could occur.
“We’ve had a surge of people who want to buy and who don’t have the money to do it,” said Tom McBride from the house hunters club.
“People are really frustrated.”
The group is also worried that, if they don’t act quickly they will lose their homes, if the prices increase significantly.
The price of houses in Cork is now almost double that of Ireland’s second-biggest city, Dublin, with prices increasing by €9,600 per month.
“There are a lot of people coming here and wanting to purchase homes in Cork,” said Mr McBride.
“If you don’t do something about it, you will lose your house.”
Mr McBride said he had been told that the average house price in Cork was now €1.9 million.
“It’s been very disappointing to see a lot more people selling houses than buying them,” he said.
“What we are seeing is that the numbers are growing, the numbers for sale are increasing, but there are no homes coming to Cork.”
Cork is home to the largest population of Irish nationals living in Northern Ireland, making up 13.3% of the total population.
“The population of the city is increasing rapidly,” said Dermot Ahern from the Cork Council.
There is also an increase in the amount of people using social media to find a home.”
The city is also a destination for young people, they want to travel to Dublin or go to other places to live, so the numbers here are growing.”
There is also an increase in the amount of people using social media to find a home.
The number of house hunters in the city has increased from 8% to 10% of all house hunters.
“Social media is also growing,” Mr Ahern said.
“We have a number more people using Facebook to look at houses.”
Mr Ahern explained that the council’s housing department had recently been running a competition for people who wanted to buy properties.
“For those who want a house, we have a competitive bidding process where they have to come up with €1m to bid,” he explained.
“Auctions are usually between €300,000 and €600,000, but this year there’s more than $1 million bidding.”
Corks house hunters are being asked to make an application on the council website, to ensure they have the funds to bid.
“Our bid has increased substantially, it’s over €1million,” Mr McBrien said.
There is a shortage of housing available for sale within the city, with many people looking to move to Cork because of rising rents.
The Cork Council’s housing and planning department recently published its housing affordability strategy, which outlined how it would tackle rising housing costs.
The plan said that, in order to improve affordability and improve the housing stock, a comprehensive plan was needed.
“Cork has a shortage in housing for young and older people, with the number over 30 increasing by around 10% in the past decade,” it said.
A spokesperson for the council said it had not seen an increase for the past five years and it was concerned that the number was going to increase further.
“When we were looking at how to improve our housing stock and the number, we looked at the number on the estate, the number we have now is under 50 people.”
At that level, it would be a real challenge to find new homes,” she said.
The council’s chief executive, Paul McDonagh, said that there was also a need to find alternative housing for families, especially young families.”
This is the first time we have had such a shortage,” he told RTÉ’s Morning Ireland programme.”
I’m not sure how long this is going to last, but we need to get it sorted.
“My concern is for the young families, particularly in the next 10 to 15 years, we need more affordable housing.”
A spokesperson from the Council of Irish Trade Unions said that in recent years there has been an “increasingly intense focus on supply” within the housing industry.