This article is from page 3 of the 2006-09-19 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 3 JPG
NEW benchmarks are being set for property prices in Ennis, with one bungalow fetching €715,000 at auction last week, a site with planning permission being sold for €2.45 million, and a family home on the Mill Road believed to have made €900,000 after being sold without going to auction.
The stunning prices could herald a property boom as Ennis becomes a desirable, commutable location for high-flyers who want to live outside cities, according to property sources.
The house in Cahercalla which sold last Friday for €715,000 on 0.4 of an acre will probably be felled by the wreckers’ ball, effectively putting the price of the site at €715,000.
The 1970’s bungalow is typical of the type of property which becomes available only rarely in the Cahercalla area, which is becoming an increasingly desirable address.
Cormac O’Sullivan of DNG O’Sullivan Hurley, who handled the Cahercalla sale, said that the area was one of a number seeing increasing demand and corresponding increases in prices.
He said that the price, “sets a new benchmark. It is in the middle of the town and Ennis is becoming an increasingly attractive prospect for people who want the more relaxed lifestyle of living outside cities. The town is commutable for Limerick and Galway and the by-pass is going to be a major boost. The trend is being set for up-market developments and that’s not surprising when you consider that Lahinch is 20 minutes away, we have excellent shopping facilities and we’re surrounded by championship golf courses.”
O’Sullivan said that other mature areas which were coming into heavy demand included Ballyalla and Ballybeg and the rising values here were being reflected in other parts of the town.
“Currently, a two-bedroom semidetached house in Steele’s Terrace is on sale for €322,000,” he said.
The 3.08 acres site in Clarecastle which fetched €2.45 million last week was sold to a Galway-based developer, KC Developments.
Paddy Dermody, who handled the sale for Sherry Fitzgerald, said that the sale had a number of unique features which helped boost the price.
“There is full planning permission for 33 residential units on the site and it does not include any social or affordable housing.”
Meanwhile, the firm involved in the sale before auction of a house on Mill Road last week were remaining tight-lipped about the price but it is believed that the property changed hands for in the region of €900,000.