Dublin 5: Family homes key in D5
Published 23/01/2016 | 02:30
Modest price increases largely in the order of 3pc have occurred over the last 12 months in Dublin 5 with the price of the average four-bed semi-detached house increasing by €10,000, from €390,000 to €400,000.
Wayne O'Brien of DNG estimates that the branch sold 34 properties through 2015 with 82pc to owner-occupiers and just 18pc to investors.
While much of the steam was taken out of the investor market by the new lending regulations, a strong injection of cash from returning UK buyers added a bit of fizz at the top end - all of these were looking for larger family homes.
Generally the market is steady, having stabilised after the introduction of the new lending rules," says O'Brien, whose postcode turned in a rather unsustainable average value increase of 15pc in 2014. The market in Dublin 5 is driven for the most part by the demand for good family homes.
"As people have started to come out of negative equity we have started to see the re-emergence of the trader-uppers, who want to move on from a 2/3-bed home to a 3/4-bed home with a bigger garden. We've also found that the requirement for the 20pc deposit means that purchasers are looking for houses that are in excellent condition, rather than anything needing work. They're prepared to pay more for something in walk-in condition."
The Middle Third in Killester is in demand because of its prime location just off the Howth Road and beside the DART station, and because the three-bed bungalows and three- and four-bed houses occupy good, spacious sites. In Raheny, Ennafort and St. Assams are two of the most popular estates.
"These older 1950s estates have larger-sized, better-proportioned rooms, and big front and back gardens," says O'Brien.
For the year ahead, O'Brien is predicting more of the same, with the market busier at the lower end than at the upper end.