Monaghan: Monaghan set for 5pc growth
Sherry FitzGerald Conor McManus sold ‘Glennan Manse’, Emyville, Glaslough, for €318k in March
In Monaghan, a county with significant numbers of people working across the border and a big export-led food industry, property values have been most vulnerable to Brexit bedlam.
As a result prices in many categories have been stagnating these last 12 months, despite inching up 2pc overall. However, now that there's greater clarity around the issue following the UK election, the prediction is for 5pc growth in 2020 as confidence cautiously returns.
"For local people living in the South and working in the North, not knowing what way Northern Ireland would be treated post-Brexit caused great uncertainty," says agent Shane O'Hanlon of O'Hanlon Property. "People held back. There was an impasse to be broken and I think we will see attitudes changing this year and people stepping forward."
He predicts steady growth for most house types this year, with the average price of a four-bed semi likely to rise from €220,000 to €230,000. And thanks to a range of new jobs coming to Monaghan, there is a growing market for larger detached homes too.
- Average Price €220,000
- Areas Monaghan Town, Castleblayney, Carrickmacross
- Up + 2%
- One Year Forecast + 5%
- Assessing Agent
O’Hanlon Property
"It hasn't all been Brexit doom and gloom," says O'Hanlon. "Several businesses in the county are doing well, including Combilift in Monaghan town (500 jobs and expanding), McAree Engineering (set to reach 150 jobs in Monaghan town this year), Chinese baby-formula maker Newbaze (60 new jobs in Carrickmacross) and Kingspan, which has factories in the county's three main towns."
Employment is further boosted by workers commuting from Castleblayney and Carrickmacross to jobs in Dublin and Dundalk.
Monaghan
| House Type | 2019 | 2020 | 2021 |
|---|---|---|---|
| 3-BED SEMI IN TOWN | €185,000 | €185,000 | €190,000 |
| 4-BED SEMI IN TOWN | €220,000 | €220,000 | €230,000 |
| 4-bed Detached In Town | €285,000 | €295,000 | €310,000 |
| 4-bed Detached Out Of Town | €260,000 | €270,000 | €285,000 |
| 5-bed Detached In Town | €350,000 | €350,000 | €350,000 |
| 5-bed Detached Out Of Town | €310,000 | €320,000 | €320,000 |
| 3-bed Bungalow In Town | €240,000 | €240,000 | €250,000 |
| 3-bed Bungalow Outside Town | €220,000 | €230,000 | €240,000 |
| 4-bed Bungalow In Town | €275,000 | €295,000 | €310,000 |
| 4-bed Bungalow Outside Town | €240,000 | €260,000 | €275,000 |
| Two-bed Apartment | €100,000 | €130,000 | €135,000 |
| 3-bed Terrace | €140,000 | €160,000 | €170,000 |
| 1-bed Cottage | €90,000 | €100,000 | €105,000 |
| 2-bed Cottage | €150,000 | €150,000 | €160,000 |
"A lot of employees in these facilities are looking for detached four-bedroom houses in or close to town," says O'Hanlon. "Three- and four-bed semis are the most popular, but there is still a lack of supply in both new and second-hand stock."
He says that builders are deterred from the local market because property prices have not risen to an optimum level to make it feasible to open a site.
Property Hotspot: Carrickmacross
An 80-minute bus ride to Dublin makes it popular with commuters
How much is your House worth in 2020?
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