What’s the going rate for a home in Co Limerick?

Home to Ireland’s third-largest city and conveniently located along the corridor linking Galway and Cork, it is not surprising that Limerick and its residential property market is so vibrant. The county offers a balance between country and urban living for many, with half a million people living within an hour’s drive of its city.

The presence of large 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 combine to drive the demand for homes.

That demand is likely to continue to increase given Limerick’s continual regeneration, as well as grassroots movements such as Liveable Limerick aimed at improving the city. Outside the city, towns and villages may now prove to be a more attractive and lower-cost option for those workers who need to travel to their employer’s base two or three days a week.

Asked for his take on Limerick’s residential property market Pat Dooley, director of REA Dooley Group, says prices are still going up, albeit not as fast as they were. Supply, he says, is growing: “I think there are about 820 properties for sale in Limerick at the moment, and that seems to be on the rise every month.”

Demand for three and four-bed semis and detached homes is still high among first-time buyers, he says, although some may have left the market due to price increases. There is also a healthy demand in the high-end market for people looking to trade up to buy a bigger home.

“Locations closer to the city centre are more desirable but I would think prices in those areas are out of a lot of people’s reach,” says Dooley. “The farther you move out the county to commuter towns ... you will get better value.”

NEW HOME

Cois Teampall, Sli Na Manach, Mungret

There are a range of three- and four-bed semidetached, detached and terraced houses available for sale through O’Connor Murphy at the Cois Teampall scheme in the highly sought-after commuter village of Mungret. Built by Wicklow-based developer, Dwellings, these A-rated homes range in size from 86sq m to 145.5sq m (926sq ft to 1,566sq ft) and are priced between €290,000 and €500,000.

Cois Teampall is well-located close to University Hospital Limerick and is just an 11-minute drive from Limerick city. The scheme is also close to a number of recreational amenities, including two new primary schools, a new secondary school and a public park with a playground in the grounds of Mungret College.

LARGE FOUR-BED

Clyduff Lodge, Lisnagry

The modern and well-designed four-bedroom Clyduff Lodge in Lisnagry is in turnkey condition. Some of this property’s many highlights include a large kitchen/diner with sleek grey fittings and a NikolaTesla hob; a stone-style chimney breast in the livingroom that houses a stove; and a balcony at the back of the house that wouldn’t be out of place on the TV programme Selling Sunset. There is a generous back garden with lots of potential and a fully-wired garage.

This property is also in a great location, just a 14-minute drive from the University of Limerick and its sports facilities in Castletroy, as well as shops, restaurants and schools in the area. Fifteen more minutes in the car will take you right into Limerick city. Clyduff Lodge, which has a Ber of B3, is on the market through Rooney Auctioneers seeking €465,000.

DOWNSIZER

4 Castlerock Mews, Castleconnell

This three-bed end-of-terrace mews, located in the popular village of Castleconnell, offers an attractive downsizing option for those who want to make the most of the outdoors. Situated on the banks of the river Shannon, the village is well-known for its fishing opportunities and is home to the Kingfisher Angling Club at PJ Guerins pub. There is also an active rowing club in the area. The river walkways are another highlight, and Castleconnell bog is a hotspot for wildlife in the summer months. The village is just a 20-minute drive from Limerick city centre.

The property is within walking distance of the shops and restaurants in the village and features a workshop building at the end of the back garden. Extending to 88sq m (947sq ft), 4 Castlerock Mews has a C1 Ber rating and is for sale through REA John Lea, seeking €245,000.

BUY-TO-LET

Apartment 224, Block 2, Brookfield Hall, Castletroy

Those looking for what agent M&C Property terms as “an opportunity to earn a healthy return on your initial investment” may be interested in an apartment which has come to the market at Brookfield Hall student accommodation complex, seeking €120,000.

The subject property extends to 65sq m (700sq ft) and comprises two bedrooms, each of which has an en suite, desk and built-in wardrobe. It also has an open-plan living/dining/kitchen area. The apartment generates an annual income of €5,300 annually after fees, with tenants privately sourced through the development’s management company.

Brookfield hall is a fully managed purpose-built student accommodation scheme located a 5-minute walk away from the University of Limerick.

HOLIDAY HOME

24 Castle Oaks, Castleconnell

Castleconnell appears on our list for the second time as a holiday home option with this three-bedroom semidetached home, located on the scenic grounds of the Castle Oaks Hotel. This home extends to 93 sq m (1,001sq ft) and comprises an entrance hallway, an open-plan livingroom/kitchen/diningroom, a south-facing back garden, a sittingroom, three bedrooms (the main bedroom has a walk-in wardrobe), a main bathroom and a guest toilet.

The property, with a C2 Ber, is within walking distance of the hotel’s amenities, including a gym and a pool, as well as Catleconnell village and the river Shannon. Number 24 Castle Oaks is for sale through Rooney Auctioneers, seeking €215,000.

FIXER-UPPER

Ballynashig, Ballingarry

This 100sq m (1,076sq ft) three-bedroom, detached cottage on 0.38 hectares (0.94 acres) in Ballingarry offers potential for an imaginative buyer. The best thing about this property for someone looking for a renovation project is that it is already connected to the water supply and electricity, and it has a septic tank on site, according to the agent. There are also outbuildings on the site which could be converted. The property is in a good location with the towns of Adare and Newcastle West about a 15-minute drive away. It is 30 minutes from Limerick city.

The cottage has an F Ber rating and is on the market through DNG Declan Woulfe, seeking €90,000.