With a population of 104,952 within its metropolitan district alone, according to the 2016 census, and location within a catchment area of one million people living along the Cork-Limerick-Galway corridor, it’s not surprising that the residential property market of Limerick city and county is a vibrant one.
The presence of major international employers such as Johnson & Johnson subsidiary Vistakon and Cook Medical Devices at the National Technology Park; the University of Limerick’s reputation as one of Ireland’s finest third-level institutions; and Shannon Airport all serve to drive the demand for homes.
That demand is likely to increase given the growing momentum behind Limerick’s ongoing regeneration, with renewed impetus following the recent establishment of Liveable Limerick, a group of social volunteers chaired by former Department of Finance secretary general John Moran.
Asked for her take on Limerick’s residential property market, Ailbhe O’Malley, director at Sherry FitzGerald Limerick, says: “Prior to the arrival of the coronavirus we were experiencing strong sales across most areas of Limerick and in most price brackets. The first-time buyer market was particularly strong, but there was also good activity from more mature buyers returning to the city from their larger family homes in the county once their older children had left for university and work.”
“We have continued to trade through Covid-19, and sales have taken place with no evidence as yet of any fall in prices. The lack of stock going forward will be an issue for us as people take a wait-and-see approach, and this could prevent prices falling dramatically.
“The most interesting new phenomenon since Covid are the buyers considering a return to Limerick having lived in larger cities abroad or in Dublin. They now see Limerick as a good option with a better quality of life, affordable housing stock and good schools all available.”
NEW HOME
Castlebrook Manor, Walkers Road, Castletroy
There are a range of three- and four-bed semi-detached, detached and terraced houses available for sale through Sherry FitzGerald Limerick at the Castlebrook Manor scheme in the sought-after Limerick city suburb of Castletroy. Built by Dublin-based developer, Lioncor, these A-rated homes range in size from 108sq m to 145sq m (1,162sq ft to 1,561sq ft) and are priced between €285,000 and €425,000. Castletroy Manor is well-located just 4km from Limerick city centre, and within close proximity to the campus of the University of Limerick. The scheme is also close to a number of recreational amenities including Castletroy Golf Club and Castletroy Neighbourhood Park. Show homes may now be viewed by appointment, while virtual tours are available online at castlebrookmanor.ie
LARGE FAMILY HOME
2 Moyola Terrace, Ennis Road
Built originally in 1897, this late-Victorian period house comprises four bedrooms, two bathrooms, a living room and kitchen distributed over four floors and extending to 240sq m (2,583sq ft). Located on one of Limerick city’s most exclusive residential streets, the property is presented in walk-in condition following a stylish and substantial restoration and redecoration by its current owners, and is available for sale through Sherry FitzGerald’s Limerick office at a guide price of €749,000. Quite apart from the modern Manhattan-style makeover of its kitchen, the property retains period details such as high ceilings, and cornicing and architraves at each doorway.
Moyola Terrace is situated within walking distance of several of Limerick city’s best primary and secondary schools, including JFK, Ardscoil Rís and Villiers. Local amenities include Thomond Park rugby stadium and Limerick Lawn Tennis Club, while Limerick city centre and its range of shops, restaurants and cafes is just 1.3km away.
DOWNSIZER
Wisteria Lodge, Cappanahane, Granagh
Local estate agent, John Giltinane & Associates is seeking €220,000 for this two-bedroom detached house. Located just 33km or around a half-hour drive from Limerick city centre on a mature residential road in Granagh, Wisteria Lodge extends to 87sq m (936sq ft) and comprises two bedrooms, two bathrooms, a living room and kitchen. While the house itself is of a manageable size and in excellent condition, its landscaped gardens may well prove to be the selling point for the prospective purchaser. The garden itself is private and features a wisteria walkway under a pergola to the double garage, a summer house, pond, herbaceous borders and a large gravelled courtyard.
BUY-TO-LET
56 Grove Island Student Village, Grove Island, Corbally
Those looking for what agent Sherry FitzGerald Limerick terms as a “secure, hassle-free annual income” may be interested in an apartment which has come to the market at the Grove Island Student Village seeking €140,000.
The subject property extends to 99sq m, is fully-furnished and comprises four bedrooms, each of which has its own en suite, a living room, dining room and kitchen. The apartment generates an annual income of €8,800 per annum, with tenants privately sourced through the development’s management company. Prospective purchasers should note that the units are not suitable for private letting.
Grove Island is a purpose-built student accommodation scheme. Located on the banks of the Abbey river, the development comprises four- and five-bedroom units and houses up to 300 students at any one time. The scheme also includes a shopping centre with supermarket, retail outlets and a leisure centre.
