Monday 14 October 2019

Dublin 20: Hikes continue in D20 but slow bidding over €400k

3 Laurence Brook, Chapelizod was sold by Sherry Fitz Lucan for €324k in August
3 Laurence Brook, Chapelizod was sold by Sherry Fitz Lucan for €324k in August

As in previous years, prices were performing strongly in the more mature parts of Dublin 20 during 2018, with old Palmerstown particularly in demand. Overall values are up by 6pc.

Three-bedroom semi-detached houses at Glenmaroon in Chapelizod were making €410,000, while prices of €420-440,000 were achieved in the Hollyville development in Palmerstown.

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In this diverse postcode, prices vary considerably between one area and the next. A three-bedroom semi-detached house, for instance, can cost anything between €320,000 and €450,000, depending on where it is located. There can be a range in value of as much as €120,000 between similar properties located only half a mile apart.

In general, prices in Chapelizod are in the region of 15pc higher than in Palmerstown.

Local agent Roger Berkeley said that he found the market particularly price sensitive in 2018.

"Once the price goes over €400,000, bidding slows down," he says. "Buyers have a ceiling that they can't go beyond, thanks to the Central Bank's lending rules. The higher the price, the slower it goes."

But not all homes rose in value. Mr Berkeley says that while most parts of Dublin 20 showed increases in property values during 2018, houses in Whitethorn and Oak Court, which he describes as 'entry-level properties' have stayed flat in value.

With investors not as active here, as was the case right across the capital, the price of one-bedroom apartments did not increase at all during 2018, while the price of two-bedroom apartments showed a modest increase.

Our expert in D20 is predicting an average price growth rate of 8pc for this year.

Irish Independent

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