How close to a million will €995k Fernwalk in Ballincollig go?

 THE day the Irish Examiner called to view 47 Fernwalk, Cork’s Ballincollig, radio news bulletins were reporting official CSO statistics to say that Irish property prices were now up to 10% above peak in 2007.

That was a point of particular interest to this summer’s 2024 vendors of this one-off detached family home on the fringes of Ballincollig, as they had paid €998,000 for this c 2,400 sq ft home at that 2007/2008 peak, ruefully recalling they were told it was good value at the time for what they were getting.

Well, we all know how things turned out after the property and economic implosion of  2008, with the collapse of Lehmann Brothers   exposing this country’s own banks’ exuberant lending for property at Celtic Tiger times peak….

Are we really back to that sort of level once more?

Not fully, or at least not everywhere and in ever sector.

There has of course been ‘organic’ growth, plus some current very strong bidding that is indeed evidence of a market with plenty of money swilling about, albeit this time it is more ‘real’ money,’ rather than borrowed and highly geared.

Plus, 16 years have elapsed since ‘the crash,’ so considerable recovery and normal market inflation would have been expected in any case. And,  average values have indeed, come to approximate peak levels,  hitting them back a year or two ago, and now up to 10% ahead of them in cases according to CSO figures.

No 47’s vendors are indeed hoping that’s the case…..

Having bought back around 2008 for €998,000, they are now back selling with estate agent Norma Healy of Sherry FitzGerald who today guides the well-kept family home at €995,000, so it’s pretty much pitched ‘as-was’, in and around the ‘magic’ €1m mark.

That’s for a 2,400 sq ft robust, brick-faced two-storey family home built on a good-sized serviced site in the ever-popular trading up location of Fernwalk, just west and south of Ballincollig which has boomed since Fernwalk’s varied style one-of homes were first developed on sites serviced by O’Flynn Construction around the year 2000.

The same agents Shery FitzGerald had the house No 40 Fernwalk directly across the road up for sale at the end of 2023 (it featured here in December), with an initial asking price of €1.05 million.

That was later reduced to €950,000. And, now No 40’s ‘sale agreed’ at a bit over that revised AMV, but still under the €1m level, which would if it had been achieved have set a price record for Fernwalk.

(€875,000 appears to be the price record since the Price Register started keeping records in 2010, post-boom and crash, and that was paid for No 11, at the start of 2024.)

No 40 was south-aspected to the back, but closer to the bypass road at the back and is about 800 sq ft larger than No 47’s c 2,420 sq ft.

There’s a good floor plan here, with an excellent flow between ground floor rooms; it has a good sun room to the back, whilst a reception room on the far right links to a wet room/bathroom suite, so is ideal for older occupants, as a home office with services, or for more independent-minded offspring.

Above, off a large landing are five bedrooms, four of them doubles, one is en suite, and the fifth’s a single. 

There’s pull-down Stira access in addition, up  to a large, high ceilinged attic which some viewers may wish to consider using for storage/other uses.

Overall condition is good, with good ceiling heights and airiness, and the sun room has Veluxes in a pitched roof: it’s been privately owned and occupied, and it has a C2 BER, with double glazing, gas central heating and main services.

Externally it has an easy-keep façade, all in brown brick with dash on the back, and there’s good off-street parking on a cobble lock drive, while the back garden has very mature trees giving privacy, plus there’s a feature, circular sit-out area off the patio with lawn above.

No 47 is in toward the very end of cul de sac Fernwalk, with easy access to the town, to the bypass, to the western suburbs and to the new Macroom bypass and points further west to Kerry where, coincidentally the vendors’ family originally comes from.

VERDICT: All ready for its next owners. 

Might underbidders on No 40 which is now ‘sale agreed’ come across the road to No 47, and give it an equally good ‘rattle?’