Dublin 20: Chapelizod to fore as market steadies after 20pc deposit rules
"There are three or four different markets within Dublin 20," says Roger Berkeley of Berkeley and Associates, "certain pockets achieve higher prices than others."
The average price of a three-bed semi-detached house in Palmerstown ranges from €265,000 to €320,000 but houses on Palmerstown Drive achieve considerably higher prices, because the road is more sought-after.
"Last year," says Berkeley, "one house here made €445,000. A three-bed terraced house needing work made €325,000 whereas most houses of that type on the area would be priced in the mid-€200,000s.
"The 20pc deposit requirement on properties costing over €220,000 has had a huge effect. We have noticed that most three-bed semis are priced from the late €200s to early €300s, but there is a reluctance on the part of purchasers to go over €300,000 because of the deposit issue. It has thrown a fire blanket over the whole market, but there is still demand for good quality homes."
For this reason, the agent is predicting no growth in prices this year. Berkeley reports that certain roads and estates like Belgrove in Chapelizod have been performing strongly with the price dependsing very much on which side of the road the house is located. Berkeley says that he sold one house in Chapelizod with an asking price of €650,000 for €710,000.