Wednesday 23 August 2017

Dublin 6: Swan and Stella revamps set to revitalise Rathmines

56 Palmerston Road, Rathmines, sold for €1.1m
56 Palmerston Road, Rathmines, sold for €1.1m

The market for houses priced at below the €1m mark is performing better than the market for those above that price in Dublin 6, even though this market recorded some of the biggest sales of last year.

"Dublin 6 is always very steady," says Pat Mullery of DNG. "Families are driven by schools in the first instance, and Dublin 6 has a better choice than just about anywhere else."

The first-time buyer and trader- upper markets have been busy. Three- and four-bedroom family homes sold well, and supply picked up over the course of the year. Anything below half a million went up by an average of 7pc, and north of that by an average of 5pc. Investor demand has driven the prices of apartments up too." Mullery is anticipating significant growth in Rathmines in particular over the coming year.

"The Swan Centre has had a facelift, and the news that Fallon & Byrne is going in there is very positive. The village is definitely improving - not before time - and there is good demand for the larger houses on Leinster Road and Rathgar Road, including those that can be turned from flats back into family homes. Rathmines has taken a long time to get going, but it is going now. The word is that Paddy McKillen Jr has bought the Stella Cinema and plans to turn it into a small hotel, and that will help big time."

Irish Independent


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