Life Homes

Thursday 28 August 2014

D6 price hikes show traits of bubble days

Mark Keenan

Published 24/01/2014 | 02:30

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Rathmines, Dublin 6
Belgrave Road Rathmines Dublin 6

DUBLIN 6

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Rathgar, Ranelagh, Rathmines, Harold's Cross, Palmerston, Milltown, Sandford, Dartry.

Up 18%

One Year Forecast: Up 18%

Average Price: €425,000

Assessing Agent: Douglas Newman Good.

The Market:

While prices were up 18% on average through the last 12 months, some highly sought-after pockets in Dublin 6 saw values increase by 25% - among the highest hikes seen in the country in 2013.

Half the buyers were waving cash and these mostly opted for the same sort of larger period abodes which attracted top prices in the boom years.

Right across the board, properties regularly exceeded asking prices. In one extreme case in November, DNG saw bidding on a detached home in Dartry run from €900,000 right up to a €1.3m sale. This represented a 44% increase on the original asking price.

Despite a shortage of homes to meet demand there was a huge pick up in activity in 2013 with DNG claiming double the number of transactions over the previous year.

Investors were back too and many paid out long-stashed cash for buy-to-lets.

One estate agent reported six bids on a single apartment, a trait redolent of the bubble days. There is little land available in this area and no potential for new-builds.

The schools are highly regarded and this too is driving values as many people are moving to the area for this factor alone.

The Prices:

1-bed apartment:

Jan 2013: €144,000

Jan 2014: €170,000

Jan 2015: €200,000

2-bed apartment:

Jan 2013: €271,000

Jan 2014: €310,000

Jan 2015: €378,000

2-up/2-down:

Jan 2013: €339,000

Jan 2014: €320,000

Jan 2015: €378,000

3-bed terrace:

Jan 2013: €339,000

Jan 2014: €400,000

Jan 2015: €472,000

2-bed cottage:

Jan 2013: €275,000

Jan 2014: €325,000

Jan 2015: €383,000

Ex-corporation 2-bed:

Jan 2013: €254,000

Jan 2014: €300,000

Jan 2015: €354,000

Ex-corporation 3-bed:

Jan 2013: €339,000

Jan 2014: €400,000

Jan 2015: €472,000

2-bed townhouse:

Jan 2013: €275,000

Jan 2014: €325,000

Jan 2015: €383,000

3-bed townhouse:

Jan 2013: €318,000

Jan 2014: €375,000

Jan 2015: €442,000

2-bed mews:

Jan 2013: €297,000

Jan 2014: €350,000

Jan 2015: €413,000

3-bed mews:

Jan 2013: €381,000

Jan 2014: €450,000

Jan 2015: €531,000

3-bed duplex:

Jan 2013: €318,000

Jan 2014: €375,000

Jan 2015: €442,000

3-bed semi:

Jan 2013: €436,000

Jan 2014: €515,000

Jan 2015: €608,000

4-bed semi:

Jan 2013: €466,000

Jan 2014: €550,000

Jan 2015: €649,000

3-bed bungalow:

Jan 2013: €314,000

Jan 2014: €370,000

Jan 2015: €437,000

4-bed bungalow:

Jan 2013: €339,000

Jan 2014: €400,000

Jan 2015: €472,000

5-bed semi:

Jan 2013: €530,000

Jan 2014: €625,000

Jan 2015: €738,000

5-bed detached:

Jan 2013: €847,000

Jan 2014: €1m

Jan 2015: €1.18m

Period 2/3 storey over basement:

Jan 2013: €932,000

Jan 2014: €1.1m

Jan 2015: €1.4

Detached house on own grounds:

Jan 2013: €2.542m

Jan 2014: €3m

Jan 2015: €3.54m

Irish Independent

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