Thursday 14 December 2017

Dublin 17: Values stagnant in areas plagued by 'social issues'

'Millstream', Baskin Lane, Kinsealy, went for €1.35m
'Millstream', Baskin Lane, Kinsealy, went for €1.35m

Dublin 17 is suffering from a very acute shortage of supply but that didn't translate into much growth, says Brian Caulfield of GWD, our expert on the ground, who estimates value increases of 6pc in the year to date.

Buyers are finding banks reluctant to lend in many parts of this area and it means Caulfield is predicting prices to remain the same in the next 12 months. "Unless lending picks up in 2017," says Caulfield, "I don't predict much growth in Dublin 17. At the moment, only Bank of Ireland and KBC are lending here."

"Prices in the older estates were stronger than in new developments," he says."That's always the way. In Greencastle, some houses were achieving €20,000 over the asking price, and Bonnybrook, Barryscourt, Glin, Macroom and Bunratty all did reasonably well. In Belcamp, Darndale, Friarwood and Moatview, prices don't really change. Those areas have social issues that impact on prices."

By way of example, Caulfield cites the price of a four-bed extended house in Belcamp at €171,000, and the price of the equivalent house in Greencastle at €255,000.

Prices were highest in Riverside in Clonshaugh, which is the most settled estate in the area and does not have the same social issues as some others.

Its location beside the Northside Shopping Centre, Clayton Hotel, Clare Hall and Odeon Cineplex ensured that properties here were in demand throughout 2016.

The 'Toblerone' system-built bungalows on Clonshaugh Avenue and Newbury Avenue were also popular with buyers in Dublin 17.

Irish Independent

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