Saturday 24 February 2018

Dublin 14: Stock is scarce but prices rise by 7pc

“THERE are no more green fields in Dublin 14,” says local agent, Cathal MacCarthy, “so we have a scarcity of properties for sale.”

Located five miles out of town, Rathfarnham, Dundrum and Churchtown are popular because of their good transport links — most notably the Luas. The year saw prices in Dublin 14 hike by around 7pc on average.

“Butterfield Drive, Park and Crescent are all particularly sought-after,” says MacCarthy. “The pre-war houses tend to go for prices in the range of €800,000 to €1m, depending on whether they have been refurbished and extended.

The newer houses, built in the 299,0001960s, are in the €450–650,000 bracket.

We are finding that the houses that have not been refurbished are less in demand as it is hard for buyers to hang on to cash to spend on refurbishment once they have satisfied the Central Bank’s mortgage requirements.”

For the year ahead, MacCarthy is predicting single-digit increases.

“It’s not going to run away,” he says. “In the end, it all comes down to convenience.

It’s about schools, the fact that there are five bus routes, that all the third level colleges are accessible and amenities such as Marlay Park which is a huge draw for families. Convenience for the M50, the airport and the city centre are all important.”

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