Wednesday 18 October 2017

Dublin 24: Kilnamanagh ticks boxes for first-timers

36 Tamarisk Heights, Kilnamanagh, fetched €240,000 last July
36 Tamarisk Heights, Kilnamanagh, fetched €240,000 last July

The most popular properties in Dublin 24 are, not surprisingly, entry-level properties priced between €280,000 and €300,000, and aimed at first-time buyers. This relatively young area - with a population larger than Limerick's - is among the few on the southside in which affordable family homes are still available.

Marc Browne of DNG says that Ballycullen and Firhouse are notably popular with buyers who have been priced out of Dublin 14 and 16, and that well-located apartments near either a good bus route or the Luas went up in price by an average of €15,000 during the course of last year.

"It's cheaper to buy than rent," says Browne, "so really it's a no-brainer." He adds that Kilnamanagh is also a prime target for first-time buyers. "The houses were built in the mid-1970s and the estate has its own national school and a Dunnes Stores, and it's close to the Luas. It's quite traditional, and local people from the area who grew up there want to live there.

"It is now on a par with Kingswood across the road, where houses would traditionally have been more expensive. Three-bed semis are now making over €300,000, and we had one house on Tamarisk Avenue that went on the market at €275,000 and was quickly agreed at €305,000. That was a nicely presented house with a good garden."

Dublin 24 covers a large geographical area, and prices vary enormously according to where properties are located. Browne gives the example of a three-bed semi in DodderBrook in Ballycullen, which would make in the region of €360,000, while a similar house in Elderheath, Kiltipper, would be priced about €295,000.

He also reports that the trader-upper is back, citing the example of a four-bed detached house in Firhouse which went on the market at €395,000 and eventually sold for €430,000.

For 2017, Browne is predicting growth of 8pc because the Central Bank lending rules have been relaxed. "I think that there will be a bit of a surge at the start of the year," he forecasts. "There is pent-up demand and limited stock. The older, traditional estates will see good growth."

Irish Independent


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