Dublin 17: Pockets of D17 made 'stupid money' in 2017
The Dublin 17 market, hit hard during the crash and for an extended period afterwards, has showed signs of improvement through the last 12 months, with positive indicators that this growth will continue in 2018.
"The market is definitely getting stronger," says local agent Brian Caulfield. A shortage of supply coupled with demand from people who grew up in the area looking to move near their extended family for childcare purposes were the main factors behind the increase in prices.
"For the first time in God knows how long," says Caulfield, "we saw a house in Clonshaugh break the €300,000 barrier. The last time I sold one of those was two years ago and it made just over €230,000. And some houses in Clare Hall are going for a shade over €300,000, although the area has mixed fortunes, depending on what part of it you are talking about. Some parts of Clare Hall have more anti-social issues to contend with than others, and the prices reflect this. The biggest houses are in Riverside, beside the Northside Shopping Centre, and they are Gallagher-built, and regarded as the best. The oldest part is Temple View, which was built in 1993."
Some of the older and more established estates in Dublin 17 which are consistently popular, says Caulfield, include Limewood Avenue, Cameron Park and Tonlegee. Houses in the 'Loony Estate' (named after the lunar landings in 1969 when the developments were built) - on roads such as Armstrong Walk, Apollo Way, Eagle Park and Tranquility Grove - are also quick to move when they come on the market.
"Little pockets of Dublin 17 made what I would call stupid money in 2017," says Caulfield. "but I'm predicting growth in the region of 10pc in 2018."
Caulfield hopes to see more funds being made available by the banks in the year ahead. "As far as I can see, the only bank that is lending currently in this area is KBC. They are doing more than all the others combined and they are cheaper and buyer-friendly. The other banks are hesitant in comparison, and not just on income multiples."