Property Focus: Why Rochestown in Cork continues to rise
The enthusiasm of online house hunters is so great that they are bidding on the strength of virtual viewings. Picture: Denis Scannell
High demand for Rochestown properties, at a time when supply everywhere is at an all-time low, is resulting in bidding wars which are pushing some property prices upwards.
Although viewings aren’t possible during lockdown, auctioneers listing properties in the area say they are compiling long lists with the names of buyers who want to see them when restrictions ease. In the case of some properties, the enthusiasm of online house hunters is so great that they are bidding on the strength of virtual viewings.
Among the properties on which active bidding is taking place is No 44 Rochestown Rise, a detached four-bed house that went on the market last month with a guide of €575,000. Sherry FitzGerald’s Sheila O’Flynn says the interest from trade-up buyers has been phenomenal: “We have six interested parties and bidding has now gone up to €620,000.”
On the lower end of the market in Rochestown, Rose Property Services is seeing four house hunters — mostly first-time buyers compete to buy No 26 Belmont Avenue in Garryduff — a three-bed semi with a guide of €275,000, which by the start of this week had secured an offer of €296,000.
Since being listed in March, No 52 Foxwood, an extended and upgraded three-bed semi in Garryduff with a guide of €380,000, has, according to Cohalan Downing auctioneers, attracted huge interest. Auctioneer Jackie Cohalan revealed this week it’s now gone sale agreed for well in excess of its asking price.
The high-interest level in Rochestown property has a great deal to do with its proximity to Douglas village, but according to auctioneers selling properties there, the area has quite a number of other attractions.
Auctioneer Jeremy Murphy says that one of them is the variety of house types on offer. "Rochestown has a home to suit everyone — from one-bed apartments, all the way up to large high prices detached houses on hillside sites," says the auctioneer who is now seeking offers of €195,000 for a one-bed apartment at 112 Ardkeale in Mount Oval, currently the most affordable property available in Rochestown.
Guide prices on the Rochestown Road go all the way up to €3.25 million for Kennett House – a six-bed property being sold by Lisney which is one of the most expensive properties to come on the market in the area in recent years. Another high priced option is Lough Mahon House, available from Sherry FitzGerald with a guide €2.35 million.
According to Mark Rose of Rose Property Services, one of Rochestown’s key attractions is its modern housing stock. Many buyers prefer modern houses and see this as a better option than buying older ones in Douglas or Ballinlough which need upgrading, he says. Jackie Cohalan of Cohalan Downing auctioneers says that pandemic restrictions have given people a whole new appreciation of just how good the amenities are in Rochestown. “There are a whole range of walking options within five kilometres — including the walkway along the waterfront to Passage West and Garryduff Woods," she says.
Despite lockdown restrictions, 23 sales have gone through in Rochestown so far this year, including four that passed the half-million euro mark. The most expensive was 71 Dewberry, a six-bed detached property which sold for €695,000 and the most affordable was No 7 Clonlea, a Mount Oval apartment which went for €195,000.
SPECTACULAR in both design and location, Lough Mahon House on the Rochestown Road offers scenic waterfront views as well as luxurious living for its €2.35 million guide price.
One of the most expensive properties to come on the market in the area in recent years, It’s a 7,000 sq ft five-bed house with over two acres of landscaped grounds.
Views of Lough Mahon can be taken in from any one of several balconies in the late 1990s built property or from any of its many terraces and patios. Built to provide a high, no expense spared level of comfort, it has a wine cellar and tasting room, a sauna, and air conditioning and its gardens have waterfalls, sculptures, and a fountain.
“Although it’s within easy reach of the city, this house is a haven of peace and tranquillity,” observes Sherry FitzGerald’s Sheila O’Flynn.
: Offers the type of luxury everyone wishes for but few can afford.
FOR this three-bed semi at 81 Delford Drive, an off the Rochestown Road location, within a 15-minute walk of Douglas village, is enough to guarantee a lot of interest.
A 1990s built three-bed semi with 1,323 sq ft of living space, it has a guide of €310,000. “It’s a well-maintained home which overlooks a green area and has a south-facing garden, “ says Jackie Cohalan of Cohalan Downing auctioneers who believes it’s especially attractive to first-time buyers.
Accommodation includes two living rooms and a smallish kitchen as well as three bedrooms and a bathroom. There’s an attached garage at the side which offers scope to extend. Houses in Delford Drive are quite rare to the market — No 2 sold for €310,000 in November and was the only sale in the estate since 2019.
: The fact that the online brochure has over 10,000 hits seems to indicate a very high level of interest.
ONLINE house hunters have responded very enthusiastically to the listing of a modern three-bed semi at 26 Belmont Avenue in Garryduff in mid-April.
Selling agents Rose Property Services say they have already received offers from four online viewers (mostly first-time buyers) and that bidding has this week exceeded the €275,000 guide price, going up to €296,000.
Auctioneer Mark Rose says that scarcity of supply combined with the popularity of Rochestown means that properties like this one are attracting a lot of attention. Located in Garryduff, the 2003-built 1,120 sq ft house is close to schools and amenities in Rochestown and is three km from Douglas.
: The type of modern three-bed semi that’s obviously much in demand.
STRONG trade-up buyer interest is expected in this four-bed semi at 47 Foxwood in Garryduff which is new to the market with a guide of €360,000.
Jeremy Murphy auctioneers say the key attractions include the space of the 1,270 sq ft 1997-built house and its location. “The property overlooks a green area in a quiet family cul de sac where there are few rental properties,’’ says Mr Murphy noting that it’s within a short drive from Douglas village. Accommodation includes a living room, a lounge as well as a kitchen diner, a small utility room, and a guest WC. Upstairs there is a bathroom and three bedrooms, one en suite. The good-sized garden at the rear offers plenty of scope for playing.
: Once viewing becomes possible again, this is expected to be busy.
