Monday 16 September 2019

Dublin 17: Clare Hall and Northern Cross enjoy sales growth

Average Price: €210,000
Areas: Balgriffin, Clare Hall, Darndale, Clonshaugh
Up: + 22%
One Year Forecast: + 6%
Assessing Agent: Corry Estates

Dublin 17 has a bigger stock of social housing than many other parts of Dublin and even those in a tradable position remain extremely loyal to the area and local family ties, meaning that supply isn't always there to the same extent as would be the case elsewhere.

It also meant that the highest percentage hikes were often experienced in terraced and smaller local authority stock rather than on semis as was normal elsewhere.

3 Aulden Grange, Santry, Dublin 17, sold in July 2014 for €269,500.
3 Aulden Grange, Santry, Dublin 17, sold in July 2014 for €269,500.

A €50,000 hike in three bed terraces amounted to a 43pc hike while semis rose by 15pc.

Agent Andrew Corry saw most of the activity in two places: Clare Hall, popular with families looking for nice three and four-bed homes, especially given its access to shopping and transport options.

Dublin 17
House Types201420152016
3-bed Semi, €222,000 €255,000 €270,000
4-bed Semi, €245,000 €275,000 €292,000
3-bed Bungalow, €222,000 €255,000 €270,000
1-Bed Apartment, €90,000 €125,000 €133,000
2-bed Apartment, €150,000 €175,000 €186,000
2up/2Down, €110,000 €150,000 €159,000
3-bed Terrace, €120,000 €175,000 €186,000
Ex-Corporation 2-bed, €110,000 €150,000 €159,000
Ex-Corporation 3-bed, €119,000 €170,000 €180,000

You can be on the Malahide Road or M50 in jig time. The other growth area was Northern Cross, which is particularly valuable to investors.

"Anything that came up here went quickly," says Corry.

CLARE HALL: For family three-bed homes. Good access and proximity to local amenities and transport opportunities.
CLARE HALL: For family three-bed homes. Good access and proximity to local amenities and transport opportunities.

"Up around the Hilton Hotel apartments were very popular.

"It was partly led by the Capital Gains Tax exemption ending but there were a number of down-sizers too looking for nice apartments, including some who had perhaps been born in North County Dublin, lived elsewhere and were returning to a base near the airport or family."

Cash sales remained strong, particularly in the apartment market. "With prices for one-beds in the early €100,000s and two -beds not more than €180,000 they're at that level which attracts cash."

Many of the former corporation properties and housing were sold to mortgage holders, often first-time buyers and Corry sees a big impact here if deposit requirements go up in 2015.

"For someone on a decent wage and currently renting, they might have struggled to put by €25,000 for a three-bed semi. Now, to ask them for double that is not feasible."

Doer-uppers are always difficult to get lending on, but Corry found buyers who were prepared to save up and take repair and extension work into account. With bigger savings lenders more amenable overall during the year.

He envisages mid-single digit growth for 2015 but says it will depend entirely on those deposit requirements that finally come into play.

Independent.ie Guide to House Prices in Ireland

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