Thursday 8 December 2016

Price Guide: Dublin Suburbs South

Published 17/09/2010 | 15:52

Walkers take a stroll down the East Pier in Dun Laoghaire
Walkers take a stroll down the East Pier in Dun Laoghaire

Despite being the most expensive location for property in the entire country, Dublin's South Suburbs have not been immune to the dramatic drops in prices we have seen across the Irish property market.

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Average new home prices in the area are estimated to have fallen by 47pc from peak levels to €427,400, while average second- hand prices are down 44pc to €438,800.

The biggest adjustment in prices has occurred for the property types where there is little or no demand at present i.e. new one-bedroom apartments and new five-bedroom detached houses, which are down 55pc and 53pc respectively.

There were mixed views on recent sales activity although mainly positive, with many agents reporting an increase in sales since last April, while others noted that activity remained somewhat unchanged. One local agent even went as far to describe the market as being “very buoyant”.

An abundance of examples of recent sales in the area were provided by estate agents. These included: a two-bedroom apartment in Stepaside for €190,000; a two-bedroom apartment in Dundrum for €295,000; a two-bedroom mid-terrace house in Dun Laoghaire for €220,000; a two-bedroom apartment in Foxrock for €370,000; a three-bedroom detached house in Sandyford for €340,000; a three-bedroom house in Killiney for €635,000 and two four-bedroom semi-detached houses in Ballinteer, one at €417,000 and another at €450,000.

A number of agents distinguished between the relatively strong performance of the market for houses, where there is a general lack of three- and four-bedroom semi-detached properties, and the rather weak level of demand for apartments in the area.

With the typical time it takes to get a property sale agreed ranging between six weeks to six months, one agent stated that their experience had been that houses were selling within 10-15 weeks, but some apartments have been sitting on their books for more than nine months.

Some houses are now managing to achieve sale prices above the asking price level. Houses that require a large amount of work need to be heavily discounted in order to attract cash buyers who have little or no requirement for debt finance.

The outlook for the local market is upbeat, with sales activity expected to improve over the next six months and to continue to get better into 2011, with some agents expecting to see a significant improvement.

It was noted that while the banking situation and interest rate rises could dampen the mood of some buyers, overall sentiment in the market appeared to be improving “as people get on with their lives”.

New One-Bedroom Apartment

August 2010: €170,000

April 2010: €200,000

Peak Price: €400,000

Change Aug v Apr: -15pc

Change Aug 2010 v Peak: -58pc

Second-hand One-Bedroom Apartment

August 2010: €190,800

April 2010: €184,000

Peak Price: €363,000

Change Aug v Apr: 4pc

Change Aug 2010 v Peak: -47pc

New Two-Bedroom Apartment

August 2010: €236,700

April 2010: €250,000

Peak Price: €500,000

Change Aug v Apr: -5pc

Change Aug 2010 v Peak: -53pc

Second-hand Two-Bedroom Apartment

August 2010: €271,700

April 2010: €283,000

Peak Price: €495,000

Change Aug v Apr: -4pc

Change Aug 2010 v Peak: -45pc

New Two-Bedroom Townhouse

August 2010: €283,300

April 2010: €295,000

Peak Price: €600,000

Change Aug v Apr: -4pc

Change Aug 2010 v Peak: -53pc

Second-hand Two-Bedroom Townhouse

August 2010: €316,000

April 2010: €293,000

Peak Price: €483,000

Change Aug v Apr: 8pc

Change Aug 2010 v Peak: -35pc

New Three-Bedroom Townhouse

August 2010: €315,000

April 2010: €333,000

Peak Price: €650,000

Change Aug v Apr: -5pc

Change Aug 2010 v Peak: -52pc

Second-hand Three-Bedroom Townhouse

August 2010: €359,200

April 2010: €353,000

Peak Price: €620,000

Change Aug v Apr: 2pc

Change Aug 2010 v Peak: -42pc

New Three-Bedroom Semi-d

August 2010: €363,800

April 2010: €373,000

Peak Price: €700,000

Change Aug v Apr: -2pc

Change Aug 2010 v Peak: -48pc

Second-hand Three-Bedroom Semi-d

August 2010: €410,000

April 2010: €460,000

Peak Price: €634,000

Change Aug v Apr: -11pc

Change Aug 2010 v Peak: -35pc

New Four-Bedroom Semi-d

August 2010: €441,300

April 2010: €448,000

Peak Price: €800,000

Change Aug v Apr: -1pc

Change Aug 2010 v Peak: -45pc

Second-hand Four-Bedroom Semi-d

August 2010: €480,000

April 2010: €498,000

Peak Price: €860,000

Change Aug v Apr: -4pc

Change Aug 2010 v Peak: -44pc

New Four-Bedroom Detached

August 2010: €541,700

April 2010: €550,000

Peak Price: €975,000

Change Aug v Apr: -2pc

Change Aug 2010 v Peak: -44pc

Second-hand Four-Bedroom Detached

August 2010: €571,700

April 2010: €608,000

Peak Price: €1,150,000

Change Aug v Apr: -6pc

Change Aug 2010 v Peak: -50pc

New Five-Bedroom Detached

August 2010: €758,300

April 2010: €850,000

Peak Price: €1,600,000

Change Aug v Apr: -11pc

Change Aug 2010 v Peak: -53pc

Second-hand Five-Bedroom Detached

August 2010: €701,000

April 2010: €685,000

Peak Price: €1,450,000

Change Aug v Apr: 2pc

Change Aug 2010 v Peak: -52pc

Irish Independent

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