City dwellers moving to North Tipp
Working from home culture set to bring big changes
Nenagh and other rural towns and villages in north Tipperary are set for change as considerable numbers of city people are selling up and moving to this area to create new lives as a result of the pandemic.
Local auctioneers say demand by city dwellers for houses in this area has shot up over the past year as changes in work practices brought about by Covid-19 have allowed them work from home and move from the city to less expensive properties in Nenagh and surrounding villages.
This extra demand for houses in the locality, compounded by a scarcity of supply of new and secondhand homes, is placing strong upward pressure on property prices, say local estate agents.
"What we're seeing is a lot of people who were originally from Nenagh that moved away to cities like Dublin when they were a lot younger and single and are now returning to the area married with children," William Talbot of Sherry Fitzgerald Talbot Auctioneers in Kenyon Street told this newspaper.
"Changes in work practices means they can now working form home as they may only have to commute to an office in the city one day a week."
Mr Talbot said this new trend, combined with lack of supply, has sparked quite steep prices rises in houses prices in the Nenagh area over the past year.
He said one of the best prices paid for a three bed semi-detached house in Nenagh a year ago was €172,000. Now similar properties were making €200,000 - and even in excess of that figure.
"We are seeing prices increases in the three and four bedroom semi-detached market rise by as much as €25,000 to €30,000 over the past 12 months," said Mr Talbot.
Revelations on the upward price trends in Nenagh come just days after the release of Central Statistics Office figures showing that a chronic shortage of houses to buy sent prices across the State rising by almost 7pc in June.
Mr Talbot said the city dwellers moving to Nenagh to set up new lives is a trend that has become very evident over the past year, and this change was proving extremely attractive for such people.
"Someone selling an apartment or three bed semi in Dublin have a stronger capacity than many locals to buy a property down here in Nenagh. Because prices are less down here, it provides serious value for them and childcare is much less than in Dublin.
"Add in the fact we have highspeed broadband and wonderful facilities here on on our door step - it's a no brainer for a lot of city people people," said Mr Talbot, who added that the capacity now exists for people to work from a home in Nenagh for companies worldwide.
Asked if the new trend would result in a boon for local rural towns and villages, Mr Talbot replied: "From what I see it really is going to regenerate these areas because people want to be living either in rural towns or villages; that's the big big driver at the moment."