This old port and capital of the sunny south -east region is now a city of students. Michael Parsons reports
Early last summer, motorists outside Waterford noticed something decidedly odd on a roadside billboard. An advertisement for an energy drink featured a renowned local hurler, sporting not the county's blue and white colours, but the striped black and amber jersey of rivals Kilkenny. The billboard, sited across the county border, had apparently "provoked" a Kilkenny fan who got to work with his spray paints.
The incident, though trivial, was a skirmish in a simmering dispute resulting from Waterford's alleged encroachment into the "territory" of its neighbouring county.
Hemmed in to the east by the estuary, the city has been expanding south - towards Dunmore East; west - towards Tramore; and north - across the River Suir into Co Kilkenny. To facilitate coherent administration, Waterford City Council has proposed extending the city limits across the county boundary to take in an area of Co Kilkenny consisting of some 20 townlands with a population of about 5,000.
Kilkenny County Council (fearing the loss of revenue, pride and, some claim, hurling clubs to a sporting rival) has vociferously objected with one Fine Gael councillor rather sensationally comparing Waterford's plans to Herr Hitler's policy of Lebensraum. The matter has now been referred to the Minister for Heritage, Environment and Local Government, Dick Roche, who is faced with a decision to challenge even his King Solomon-like sense and sensibility. Yet, as any amendment to county boundaries - which involves tampering with the most tribal of loyalties - requires a vote by both Houses of the Oireachtas, no resolution is likely any time soon.
But the controversy illustrates the practical problems faced by City Hall in trying to plan and develop services for a fractured administrative area. Though a small city by European standards, Waterford is the State's fifth largest urban settlement with a rich and complex history. Founded by the Vikings, colonised by the Normans, it was on the Mall in Waterford that the green, white and orange tricolour was first raised on March 7th, 1848 by Thomas Francis Meagher, a founder of the Young Ireland movement.
Today, the once great port city is undergoing a dramatic social and economic renaissance after years of decline. Cargo ships may no longer line the quays and the docks have fallen silent but the city is buzzing. The commercial port has moved five miles down-river to a new site at Belview (ironically in Co Kilkenny) and you'll meet software programmers, bio-scientists and students - not sailors and stevedores - in the pubs.
The lack of a university has traditionally been blamed for a "brain-drain" from the south-east region which has a population of 460,000. Waterford's mayor, Cllr Cha O'Neill says: "We cannot continue to wave goodbye to some of our brightest young people each autumn as they leave the region for university education. Education brings great opportunities and these shouldn't be more readily available in Galway, Cork and Limerick than in Waterford."
Yet the city has become a major student centre and the Waterford Institute of Technology (WIT), which hopes to be upgraded to university status shortly, has 6,000 full and part-time students and 1,000 staff.
Commercial life is undergoing major change with at least three new shopping centres under construction and more planned. But Waterford's expansion has created intense pressure on the city's infrastructure. Happily, help is at hand from the cavalry in the form of the Minister for Transport (and local TD), Martin Cullen. Construction has started on a new motorway to Dublin which is scheduled to be completed by 2010; there will be a much-needed second bridge over the River Suir and a bypass will allow N25 traffic to and from Cork to skirt the city.
Estate agents say there has been an influx of new residents, including the large student population, academics attracted to WIT, medical staff drawn to the south-east's regional hospital and executives working for companies such as Bausch & Lomb and Genzyme.
So what kind of houses and apartments can they expect to find? Brian O'Shea of O'Shea O'Toole & Partners says: "There's a good choice of property available in the city. Most first-time buyers are looking for a three-bed semi which range from €250,000 up to €300,000 depending on the area."
But in more desirable areas, the cost rises considerably. In some estates off the Dunmore Road, expect to pay around €330,000 and, in Grange Park, from €350,000 to €370,000.
On the north side of the river, Arbourmount on the Rockshire Road is a new 35-house estate of detached four-beds with river views averaging around €560,000.
Some of the most prestigious modern houses in Waterford are at Castlewoods in Ballinamona where the owner of a 300-acre estate has developed about 40 acres.
Here, some 50 detached houses were built and re-sales are in the €1.2 to €1.8 million region. If you prefer to build your own then half-acre serviced sites cost around €450,000. Newtown is Waterford's equivalent of D4 and O'Shea was recently seeking €2.2 million for a five-bed Edwardian on three-quarters of an acre on St John's Hill.
Apartments, on the other hand, are mainly "bought by investors for the rentals market to students and migrant workers".
There are exceptions - an upmarket development called Glen Cove on the Dunmore Road, and close to the hospital and the Ardkeen shopping centre, is popular with "people downsizing from large houses".
According to Des Purcell of Purcell Properties: "In 2006 Waterford property prices increased by 10 per cent to 15 per cent" and he is "pleasantly surprised by how 2007 has started". He believes people move to Waterford "to get out of the Dublin price bracket and the horrors of commuting".
His own three-mile commute takes 15 minutes door-to-door to get to work in the morning and outside office hours he enjoys "walking on the long sandy beach at nearby Tramore or in the Comeragh Mountains just half-an hour away". He says that there's no difficulty getting membership of a golf club. Purcell says that the best address in Waterford is Grantstown where late 20th century houses, on up to an acre of ground, sell for up to €1.5 million.
John Fogarty of Property Partners Fogarty says that "things quietened at the end of last year because of the pre-Budget uncertainty but since the start of 2007 there has been a great buzz, and viewings and sales are up on this time last year".
"The hospital brings a lot of doctors, nurses and other healthcare professionals to Waterford," he says, pointing out that senior consultants buy at the top end of the market.
In general, most relocating medical professionals tend to buy rather than rent "even if they are only in Waterford for a short to medium-term contract. They often buy using an interest-only mortgage, bank on capital appreciation and then sell when they leave."
Fogarty says that Eastern Europeans are also beginning to buy "generally, formerly rented two and three-bed townhouses close to the city centre in the €180,000 to €220,000 price range."
He says that there is a big demand for student rentals of apartments and houses. In the Templar's Hill estate of about 200 houses, close to the WIT, "most houses are owned by investors and rented to students".
If you are planning to study in Waterford expect to pay about €1,100 a month for a three-bed semi which would normally be occupied by four students with two sharing the main bedroom (in twin beds presumably).
Rental for a two-bedroom apartment is about €700 a month. Fogarty says: "Owner-occupied apartments are not a big segment of the market because people can get a three-bed semi for the same price." He does see future demand for up-market apartments for young professionals.
Waterford has a good stock of Georgian, Victorian and Edwardian houses, he says, but "top quality stuff" rarely comes on the market and, when it does, there's a queue. In addition to private housing developments, Waterford City Council plans a major social housing programme this year with a spend of €160 million to complete 174 units, start building a further 124 and continue "a regeneration programme covering over 1,000 existing local authority houses".
And An Bord Pleanála has just given the go-ahead for a development of almost 400 new homes at Gracedieu on the north west of the city. Waterford City Council has earmarked the Gracedieu area as the site for a new town of up to 12,000 people.
What you get:
Address: 3 Wellington Street, Waterford
Two-bedroom townhouse in excellent condition located just off Ballybricken Green. Accommodation includes sittingroom, kitchen and bathroom.
Price: €185,000
Agent: Property Partners Fogarty
Address: 8 Esker Walk, Ardkeen Village, Waterford
Three-bed semi close to regional hospital, two shopping centres and the outer ring road. Waterford city centre is about two miles. Gas-fired central heating and double glazing.
Price: €287,500
Agent: O'Shea O'Toole Auctioneers
Address: Cedar Grove, Dunmore Road, Waterford
Four-bed detached house close to amenities. Livingroom with marble fireplace and bay window, kitchen/dining area, utility room, lounge with double doors overlooking elevated garden.
Price: region €735,000
Agent: Purcell Properties
