| 12.2°C Dublin

Dublin 15: Lack of supply an issue

Notwithstanding Castleknock, which carries a hefty premium in terms of house prices, the wider Dublin 15 area showed strong growth during the year in excess of 10pc while the former saw a higher 20pc or more increase in prices.

Given the number of high-end properties for sale, agents Flynn & Associates found a more realistic 5-10pc in places like Carpenterstown and Lutterellstown.

Close

11 The Boulevard, Mount Eustace Tyrellstown, Dublin 15, sold in November 2013 for €175,000 and again in January 2014 for €187,500, an inrease of 7%.

11 The Boulevard, Mount Eustace Tyrellstown, Dublin 15, sold in November 2013 for €175,000 and again in January 2014 for €187,500, an inrease of 7%.

11 The Boulevard, Mount Eustace Tyrellstown, Dublin 15, sold in November 2013 for €175,000 and again in January 2014 for €187,500, an inrease of 7%.

Areas like Mulhuddart and Clonee saw slower growth.

The larger four and five-bed detached properties would all be based in Castleknock, hence the price differential shown for these substantial houses.

Dublin 15
House Types201420152016
3-bed Semi, €320,000 €380,000 €410,000
4-bed Semi, €400,000 €450,000 €486,000
4-bed Detached, €590,000 €650,000 €702,000
3-bed Bungalow, €320,000 €370,000 €400,000
1-Bed Apartment, €110,000 €130,000 €140,000
2-bed Apartment, €160,000 €200,000 €216,000
3-bed Terrace, €240,000 €290,000 €313,000
Ex-corporation 3-bed, €170,000 €180,000 €194,000
2-bed Townhouse, €180,000 €230,000 €248,000
3-bed Townhouse, €240,000 €290,000 €313,000
3-bed Duplex, €240,000 €250,000 €270,000
"Detached 1,500 - 2,000 sq ft", €650,000 €900,000 €972,000
"Detached 2,000+ sq ft", €1,000 €1,130 €1,220

The bulk of sales are to owner occupier and mortgaged buyer, although many buyers were coming with good deposits, over 20pc in a lot of cases.

For this reason, Jim Flynn is cautious about expressing a view on the impact of the Central Bank deposit rules until 2015 is through.

Close

CARPENTERSTOWN: Settled family area with good services, trains and mid-range houses.

CARPENTERSTOWN: Settled family area with good services, trains and mid-range houses.

CARPENTERSTOWN: Settled family area with good services, trains and mid-range houses.

"It's a bit early to give an overview; more parents are putting their hands in their pockets to help out and I'd wait until later in the year to see what happens," says Flynn.

There was a surge of investment activity towards year end which saw the usual 70/30 split of private purchaser vs investor almost turned on its head as the Capital Gains Tax exemption deadline loomed.

"Investor sentiment is still there; money is getting zero interest in the banks and a certain element will always put it into property."

There was an increase in activity among down traders and older people selling large houses around Castleknock sought apartments locally.

These remain more affordable for younger buyers entering the area and there was some increased competition in the apartment market as retirees were vying against these and investors in some cases.

Credit was still slow with applicants for mortgages being "put through the hoops".

However there were plenty of approvals in place and Flynn says 15 or 16 loan-approved viewers was not unusual.

This slowed towards the last quarter.

For 2015, he sees 7.5-10pc growth in the higher priced areas with others seeing less, however, the key issue entering the year is still supply. Or lack of it.

Independent.ie Guide to House Prices in Ireland

We have surveyed estate agents in every corner of the country to bring you the most comprehensive guide to house prices in Ireland. Whatever type of home and area you are interested in, the details are just a click away using the links below. 

Irish Independent