Some 15, or up to a quarter of the current available supply to purchase, are priced in excess of 鈧1m?? Yup, only in Kinsale, where the Price Register shows over 70 sales of Kinsale address properties fetching that sum, and more. There鈥檚 been over a dozen fetch in excess of 鈧2m, with several having make just over and under 鈧5m (up to 鈧5.5 million for a modern build, Seaspray in Scilly, ye gods).
Of that 70+ current available to buy listings (71 this week on Myhome, 58 listings on Daft), increasingly more and more of the tally offered at this not inconsiderable sum are new-builds, such as Watersland and The Belvedere, whilst large villas up on the Ramparts 鈥 on the old Mercy Convent site 鈥 will set blistering new multi-million euro price levels for new stock in Munster once completed and throw Kinsale鈥檚 high-end home maket back into national and even international headlines.
Ever before those vast villas launched at the convent, various analysts show Kinsale to be among the very priciest locations for property anywhere on the island of Ireland.
Thanks to several high-end schemes at present, the average price for new-builds in Kinsale is put at 鈧717,000, while the average for all stock (new and second-hand) from mid-2023 to mid-2024 was 鈧529,000, with the CSO putting Kinsale median prices at 鈧452,000.
That CSO median c.鈧450k level is where 鈥榚ntry-level鈥 new three-bed homes around Kinsale have been likely to start 鈥榝rom鈥. If there is, or was, a blessing over the past few frenetic years, it was that Kinsale had started to offer new builds at a good/reasonable price points for families and first-time buyers back almost a decade ago, with the likes of Gannon Homes delivering over 130 homes at Kinsale Manor from 2017. Here, prices had started at 鈧310,000 to 鈧340,000 for three-beds: they now come on the resale market from 鈧490,000 to 鈧530,000.
Following on from Kinsale Manor and continuing to tap into the more 鈥榓ffordable鈥 end of pricy Kinsale came the likes of Abbey Fort: last offers here of new, A-rated 102 sq ft three-bed homes were at 鈧435,000, but that was for mid-terraced ones. Last Abbey Fort three-bed semi-ds sold out at 鈧485,000/鈧490,000, says Paul Hannon, Sherry FitzGerald director of new homes.
Abbey Fort is now closed out after 150 sales were chalked up via Sherry Fitz over the past three years, at prices from c 鈧300,000 to the strongest of late for four-beds at 鈧535,000.
As Abbey Fort (plus creche, due to open soon) now wraps up, a further new scheme, Park Laurence in a field immediately north and accessed through Abbey Fort, will have a mix of 86 two-three and four-bed townhouses and semi-ds designed by Wilson Architects, who also did Kinsale Manor.
Park Laurence construction has commenced and the first release is likely to be late summer/early autumn and 鈥渨ill be a high quality residential development located adjacent to the successful Abbey Fort scheme which is walking distance of Kinsale Town Centre. We expect strong interest in these homes given their excellent specification and location,鈥 says Donna Ryan Pender of Sherry FitzGerald New Homes.
Prices of this Port Laurence launch are not yet indicated, and while two-beds will now clearly be 鈥榚ntry level鈥, and terraced will be next, might the standard and much-loved three-bed semi-d start just under, or much over 鈧500,000?
The agents expect a good range to be under the 鈧500k mark at least and say 鈥渢here鈥檚 is a good mix of townhouses and semis so there should be homes qualifying for the FTB incentives鈥.
Meanwhile, older existing three-bed stock can be bought in the mid-to-late 鈧300ks around Kinsale at the likes of Rose Abbey, The Orchards or Springmount, where a one-bed in the same estate starts at 鈧195,000, one of the very cheapest listings locally at present.
Nationwide, supply in 2025 appears to be on a broad par with last year, at just over 12,000 listings, but this is less than half what it was before the coronavirus hit in 2020 when available stock stood at 25,000 second hand homes, according to this week鈥檚 daft report (and remember that Kinsale has just a meagre 58 offers on that portal right now with 15 of those in the 鈧1m+ price echelon!).
As if the current Irish property market wasn鈥檛 enough of a struggle for average Irish (and other) families, with asking prices nationally up 12% (however, up by 鈥榡ust鈥 8% overall in Cork), they have now risen by a whopping 40% since the start of the coronavirus five years ago.
Demand at the 鈥榣ower鈥 end of the market in Kinsale is very broad, including locals, those working in ever expanding Eli Lilly at Dunderrow, commuters to and from Cork city and those working in the Airport Business Park, as well as lifestyle relocators, retirees/downsizers, and international buyers seeking coastal living and convenience to a city, airport and third level institutions.
Want even more glum news? The rental market is even tougher right now, with a search on Myhome this week showing 0, zero, nada, nought available to let, whether you are Irish or from well out of town.