There has been a rise in prices in Dublin 4 of 4pc in the last 12 months with the average property price rising to €950,000, hanging just below the €1m mark.
Apartments haven’t seen as big a hike with two-beds instead going up by 2pc, taking their average price up to €500,000.
There’s a much hotter market here for the most sought-after house type, the four-bed, which has seen an increase of 9pc, going from an average of €1.05m to €1.15m.
Dublin 4 contains the most expensive homes in the country (last year saw No9 Shrewsbury Road selling in excess of €13m, for example) but we often forget that this postcode also contains lots of small, older apartments along with cheaper homes in areas like Irishtown and Ringsend. This can skew the averages slightly.
You can still pick up a three-bed mid-terrace in the latter locations for under €500,000, but you’ll pay more than twice that in better parts of the postcode.
Ringsend and Irishtown attract affluent first-time buyers who like being close to the city but don’t have pockets deep enough for the likes of Donnybrook or Sandymount.
|Period 2/3 Storey-over Basement||€1,650,000||€1,750,000||€1,850,000|
|Period 4/5 Storey-over Basement||€2,050,000||€2,150,000||€2,250,000|
|Large Detached Period Own Grounds||€3,400,000||€3,550,000||€3,700,000|
Many terraced redbricks and city cottages on roads around Dock Street and Gordon Street have been fully renovated and extended and are now in big demand with young professionals.
Two one-bed cottages in good condition on Ringsend Park recently sold for €270,000 and €295,000. Three-beds around this area that aren’t in need of too much work sell at an average of €550,000, says locally based agent Christopher Bradley of Sherry FitzGerald.
Sandymount, at the higher end, is now experiencing fierce competition as families go head-to-head for the few seaside houses suitable for the trade-up market.
According to Bradley, a good many houses coming to market in Dublin 4 of late are executor sales usually in need of refurbishment or a full renovation.
Very popular with first-time buyers who want to buy in Dublin 4 at the more affordable end of the market.
The difficulty in securing a builder along with the rising cost of materials means these houses take far longer to sell.
Their relative value is therefore falling compared with homes in better condition as costs increase. But with lack of supply an issue, they all sell eventually.
As renovation and home energy costs grow, Bradley forecasts a slightly lesser rate of increase of 3pc in D4 overall in 2022.