Not many people are aware but it is now possible to track property prices using the Eircode system. Like many things property related, the averages it gives are pretty much useless if you want a specific value for your property but in terms of seeing overall trends in property prices for a given area, it can be quite useful.
Regarding Cork, the Eircode system is broken down into a few specific areas – For example, P25 covers the Midleton area, P36 the Youghal area, P24 is Cobh whereas T12 and T23 covers Cork (city) southside and northside respectively.
If we visit the CSO website and track prices by Eircode, the most recently available data tracks the median house price in the year to April 2018. It’s important to remember that the CSO uses median values rather than mean values to calculate the Eircode figures. If you don’t know the difference between mean and median, kindly follow this link for a quick summation. Anyhow, the median property prices for Midleton, Youghal and Cobh are given as follows
Median property price Midleton – €200,000
Median property price Youghal – €148,000
Median property price Cobh – €185,000
Taking the Cork city divide of Southside / Northside, the median house price shows quite a dramatic difference between the two areas having a 43% difference which equates to €80,000;
Median House price Cork City Southside – €265,000
Median House price Cork City Northside – €185,000
In comparison, the median national house price is given as €233,000.
The CSO also breaks down the purchasing figure into the buyer type – first time buyer owner occupier, former owner occupier and non occupier. The titles may be a bit lethargic in description but fulfill their job admirably and the illustration demonstrates the buyer breakdown for three areas – Midleton, Youghal and Cork City Northside.
Finally, the CSO page also shows volume of sales by month per Eircode area ranging from January 2010 to the most recently available April 2018.
If you’re a bit of a numbers geek like us, the CSO website gives all sorts of interesting information and is regularly updated as data becomes available. To finds the average house price in a specific Eircode area, just follow this link and locate your area