Wednesday 21 February 2018

Dublin 20: Older parts of D20 selling strongly as apartments flatline

1 Glenaulin Park, Chapelizod, sold last August for €520,000
1 Glenaulin Park, Chapelizod, sold last August for €520,000

Older parts of Dublin 20 are generating the most interest at the moment, with three-bedroom terraced houses on Palmerstown Drive achieving prices equivalent to four-bedroom semi-detached houses elsewhere in this location.

The price for first-time buyer dwellings in the estates has just gone over that vital €300,000 mark, although the equivalent house in a popular road in old Palmerstown could make €150,000 more.

Local agent Roger Berkeley was surprised by the strength of sales in Dublin 20 during 2017, some of which resulted from a sealed-bid process. The house at 59 Glenmaroon Road, for instance, went to the market quoting €380,000 to €400,000 and ended up selling for over €500,000, thanks in part to its prime location and large corner site.

"Anything with a corner site and development potential, or a garage to the side, made good money in 2017," says Berkeley.

The houses on Kennelsfort Road sold very strongly in 2017, with prices increasing by an average of €100,000 over the course of just 12 months.

"They have always represented good value," says Berkeley, "as they are well set back from the main road and only a couple of hundred yards away from the N4 and close to good bus routes. This location is set between the shopping centre and the village."

Mr Berkeley reports that there are few investors around in Dublin 20 right now compared with recent years. This is because the properties here have hiked in value and therefore do not offer as good a return as those in neighbouring locations, where the homes are cheaper.

"Most of the buyers in Dublin 20 are owner-occupiers," says Berkeley, "and they tend not to have much interest in one- bedroom apartments. They will always go for two bedrooms if they can stretch themselves."

Irish Independent

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