Monday 11 December 2017

Dublin 15: 'You have to get the asking price right in this area'

29 Limelawn Rise, Clonsilla, fetched €347,500 last April
29 Limelawn Rise, Clonsilla, fetched €347,500 last April

Properties at the lower end of the market saw growth in the region of 7.5pc during 2016, while at the middle and higher end of the market it was in the region of 3.5pc in one of the few Dublin markets that has plenty of new homes available for sale.

"There are many different price points within Dublin 15," explains Andrew Rafter of Flynn & Associates. "In Ongar and Clonee, there are entry-level homes for first-time buyers, for instance, while the stock in Castleknock is much more expensive.

"We see that it is very important in Dublin 15 to get the asking price right," says Rafter. "If it was pitched too high, then properties didn't get any viewings. If the price is right, then competition will drive it up."

The Cottonwood development on Carpenterstown Road saw the launch of upmarket new A-rated homes priced from €995k to €1.125m that proved as popular with downsizers as with families. Good commuter links and proximity to schools ensured that seven out of the eight homes launched sold quickly.

In Castleknock, large detached houses with big gardens were making €1.225m, or €1.3m on a corner site.

"We expect new homes to be launched in the spring," says Rafter, "and that there are purchasers waiting in the long grass for those to come on stream. Last year, three hundred new middle-market homes, consistent with three- and four-bed semis, came on stream within a mile of each other at Diswellstown Manor, Hamilton Park, Bracken Park and Firhaven, at the Phoenix Park racecourse.

"These drew from the pool of second-hand buyers in Dublin 15, which hadn't had new homes in years, and most are now sold out. So I think 2017 is looking promising for the second-hand market in Dublin 15. Depending on supply, and if lending works out for first-time buyers, I'd expect to see growth in the region of 4pc."

In terms of a hotspot, Rafter identifies anything on Dublin 15's east side, and close to the city centre, as desirable, with traditional three- and four-bedroom semi-detached houses on Auburn Avenue and Pecks Lane particularly popular, due in part to their proximity to St Brigid's NS.

"Phoenix Park itself is a huge draw for families," says Rafter, "as is the Farmleigh market at weekends."

Irish Independent

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