Tuesday 27 September 2016

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Dublin 3 (Clontarf): Steady growth in genteel Clontarf as supply is so scarce

Published 23/01/2016 | 02:30

8 Faith Avenue, East Wall in Dublin 3 went for €180,000 last year.
8 Faith Avenue, East Wall in Dublin 3 went for €180,000 last year.

Such is the popularity of Clontarf and the strength of its prices relative to the rest of the Dublin 3 postcode district, that we have dealt with its prices separately in order to prevent distortion.

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A hike of 3pc in values is likely this year according to Paul Menton of Quillsen. Even so he is optimistic about va endor’s chances of disposing of a property.

“The market in Clontarf continues to be strong,” says Menton, “with high demand for property in the area. A host of amenities including St Anne’s Park, Bull Island and the Nature Reserve make the area appealing for families, while a selection of good schools attracts an equal amount of potential homeowners. Accessibility to town provided by two DART stations and numerous bus routes makes the area popular with young professionals also.”

Menton reports that genteel Clontarf saw total property sales of 184 up to the end of November 2015, and estimates that activity and transactions increased by around 10pc through 2015 overall.

“Supply is yet to meet demand in the area,” says Menton, “and this has resulted in a steady and continuous price increase. While demand is still strong, affordability is now more closely tied than ever to a person’s income thanks to the lending regulations. In our opinion, we are unlikely to see substantial price increases over the next 12 months.”

During the course of 2015, Quillsen sold a number of properties at the upper end of the market in Clontarf including 72 Hollybrook Road for €1.075m, 89 Mount Prospect Avenue for €1.09m (the asking price was €850,000) and 104b Howth Road for €1.3m.

The highest demand is for four-bed semi-detached family houses located in the following: Styles Rd, Kincora Rd, Seafield Avenue and Baymount Park.  

“I could sell any number of those and recently we agreed a sale for a bungalow for over a million. The new owners plan to demolish it and build a brand new house. To me this indicates good demand for high-end homes in Clontarf.”

Irish Independent

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