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304 Clontarf Road went for €1.1m in November. The property was sold by Savills North Dublin

304 Clontarf Road went for €1.1m in November. The property was sold by Savills North Dublin

304 Clontarf Road went for €1.1m in November. The property was sold by Savills North Dublin
  • Average Price €845,000
  • Areas Clontarf
  • Up + 5%
  • One Year Forecast + 3%
  • Assessing Agent Gallagher Quigley

Prices for three-bedroom semis are the same as they were a year ago in Clontarf, aside from those in excellent condition. Other property types showed modest increases in value.

Local agent Conor Gallagher puts this down to prospective buyers being happy to sit back and wait if they feel that the price being sought for a property is too high. However the volume of transactions here is up by around 12pc.

Mr Gallagher notes that the sharp increase in refurbishment costs that manifested itself during 2018 may hinder growth.

"At least a dozen times last year, I encountered a situation where someone had purchased a property in need of refurbishment and had their architect go in for planning, only to discover by the time that the planning came through, the cost of the work was being priced at up to 50pc or more than originally estimated.

Dublin 3 (Clontarf Only)

House Type 2018 2019 2020
3-bed Semi €625,000 €615,000 €615,000
4-bed Semi €800,000 €830,000 €830,000
4-bed Detached €950,000 €955,000 €955,000
5-bed Detached €1,150,000 €1,300,000 €1,300,000
3-bed Bungalow €725,000 €735,000 €735,000
4-bed Bungalow €1,200,000 €1,250,000 €1,250,000
One-bed Apartment €245,000 €247,000 €247,000
Two-bed Apartment €340,000 €370,000 €370,000
2up/2Down €380,000 €415,000 €415,000
3-bed Terrace €540,000 €600,000 €600,000
1-bed Cottage €360,000 €370,000 €370,000
2-bed Cottage €400,000 €410,000 €410,000
Ex-Corporation 2-bed €400,000 €410,000 €410,000
3-bed Townhouse €425,000 €435,000 €435,000
3-bed Mews €550,000 €565,000 €565,000
3-bed Duplex €475,000 €485,000 €485,000
Detached 1500-2000 Sq Ft €1,500,000 €1,500,000 €1,500,000
Large Period Over Basement €2,300,000 €2,470,000 €2,470,000

In several cases, those people just gave the property back to me to sell, saying that they no longer wanted the cost or hassle of a refurbishment project, and would buy something in walk-in condition instead."

Clontarf is one of the more expensive areas in which to buy in Dublin, and a typical entry-level, first-time-buyer property is a three-bedroom terraced house. The average value of these is now €600,000.

Property Hotspot: Clontarf Road

Anything with a view of the sea on the Clontarf Road is very popular and performs strongly, from the apartments at Seascape, built five years ago, to new houses, to refurbished properties in excellent

"Young professional couples don't want to be further out of the city than Clontarf, and these houses are also popular with downsizers, hence the premium prices," says Gallagher.

Approximately 40 brand-new homes came to the market in Clontarf during 2018, something that had not happened in a long time. This impacted on the value of second-hand properties in the area and the velocity of sales of €1m homes slowed in general as a result.

The most prevalent type of house in Clontarf is a four-bedroom semi. There are always plenty of these available, according to Mr Gallagher, who predicts that their value will rise by just 2pc in the year ahead, compared to an average of 3pc for other property types, in part due to the fact that many of these were refurbished 10-15 years ago and could now do with upgrading.

Energy efficiency is becoming more of an issue. "Buyers work out the cost of making a home efficient and they factor that in. The days of moving into a draughty old house and putting up with it are - understandably - over." A problem for period properties in poor condition.

Irish Independent

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