Friday 20 October 2017

Down-trading frees up larger properties in desirable D18

Builders resume work in the Beacon South Quarter in D18. Photo: Gerry Mooney
Builders resume work in the Beacon South Quarter in D18. Photo: Gerry Mooney

DUBLIN 18

Carrickmines, Foxrock, Stepaside, Leopardstown, Cabinteely, Brennanstown, Cherrywood, Loughlinstown.

Up 15%

One Year Forecast: Up 14%

Average price: €585,000

Assessing Agent: Sherry FitzGerald

The Market:

This desirable part of Dublin has seen a hefty upward swing in prices during the year – local agent Ronan O'Hara of Sherry FitzGerald says it is still hugely undersupplied.

He has witnessed some increased down-trading in areas like Torquay and Westminster roads and older parts of Foxrock, most likely due to the higher rate of local property tax being levied on asset-rich/cash-poor older people living in larger houses – most of which are now valued above the €1m mark again. This is expected to free up higher-end properties.

He notices some movement among smaller banks in extending credit, but says more negative equity options must be made available if supply is to increase significantly.

In the so-called 'new' Foxrock, properties are less expensive. Family homes built in the 1960s and 1970s, including those at Beechpark Road, Southpark, Foxrock Avenue and Hollypark, are hitting €500,000-€700,000.

In Stepaside, Belarmine and Cruagh, those growing young families with smaller two- and three-bed homes are running out of space and will be eager to avail of negative-equity mortgages or parental assistance in order to trade up where they can.

There is a strong loyalty to the area and many have extended their properties rather than cope with the obstacles of moving.

The PRICES:

1-bed apartment:

Jan 2013: €152,000

Jan 2014: €175,000

Jan 2015: €200,000

2-bed apartment:

Jan 2013: €252,000

Jan 2014: €290,000

Jan 2015: €330,000

2-bed cottage:

Jan 2013: €261,000

Jan 2014: €300,000

Jan 2015: €342,000

Ex-corporation 3-bed:

Jan 2013: €283,000

Jan 2014: €325,000

Jan 2015: €370,000

2-bed townhouse:

Jan 2013: €283,000

Jan 2014: €325,000

Jan 2015: €370,000

3-bed townhouse:

Jan 2013: €348,000

Jan 2014: €400,000

Jan 2015: €456,000

3-bed semi:

Jan 2013: €500,000

Jan 2014: €575,000

Jan 2015: €656,000

4-bed semi:

Jan 2013: €517,000

Jan 2014: €595,000

Jan 2015: €678,000

4-bed detached:

Jan 2013: €587,000

Jan 2014: €675,000

Jan 2015: €770,000

5-bed semi:

Jan 2013: €652,000

Jan 2014: €750,000

Jan 2015: €855,000

5-bed detached:

Jan 2013: €870,000

Jan 2014: €1m

Jan 2015: €1.14m

3-bed bungalow:

Jan 2013: €435,000

Jan 2014: €500,000

Jan 2015: €570,000

4-bed bungalow:

Jan 2013: €522,000

Jan 2014: €600,000

Jan 2015: €684,000

2-bed mews:

Jan 2013: €304,000

Jan 2014: €350,000

Jan 2015: €399,000

3-bed mews:

Jan 2013: €517,000

Jan 2014: €595,000

Jan 2015: €678,000

3-bed duplex:

Jan 2013: €317,000

Jan 2014: €365,000

Jan 2015: €416,000

Detached 1,500-2,000 sq ft:

Jan 2013: €587,000

Jan 2014: €675,000

Jan 2015: €769,000

Detached 2,000+ sq ft:

Jan 2013: €870,000

Jan 2014: €1m

Jan 2015: €1.12m

Bungalow, 1/2 acre:

Jan 2013: €843,000

Jan 2014: €970,000

Jan 2015: €1.086m

Bungalow, over 1/2 acre:

Jan 2013: €870,000

Jan 2014: €1m

Jan 2015: €1.12m

Large detached period, own grounds:

Jan 2013: €1.739m

Jan 2014: €2m

Jan 2015: €2.28m

Irish Independent

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