Dublin 6 home values are up by 7pc on average with proximity to schools being a main driver of inflation in an area that has some of Dublin’s best on its doorstep.
With Rathgar, St Joseph’s, Zion Parish, Kildare Place and Sandford Parish national schools catering for the younger children, teens can choose from Alexandra, Gonzaga, Stratford College, Sandford Park, The High School, St Louis and St Mary’s College.
Anywhere within walking distance of these institutions is hot property.
The character and endless potential of the period houses in the area has always played a part in attracting buyers. But these are now in short supply, another factor in the 7pc hike for properties.
The remote working shift is also playing a big part in the market, says Eunan Doherty of DNG.
“Houses with converted garages, attic rooms and extra bedrooms are all received well, given the home-office potential.”
|Period 2/3 Storey-over Basement||€1,738,000||€1,800,000||€1,900,000|
|Detached House On Own Grounds||€4,462,000||€4,750,000||€5,000,000|
Affluent first-timers concentrate on the more affordable end close to Terenure.
This market is attracting both upsizers and downsizers in an area where there is a sizeable number of executor sales. These properties tend to be in poorer condition.
But while homes in need of work have generally been taking a value reset elsewhere as buyers factor in increasing construction costs, in D6 this has been less the case.
Redbricks in Rathgar in particular, especially those with big gardens, are selling well whether in need of renovation or not.
The character of the period houses on Rathgar Road makes them very popular, as well as room in the large gardens for a mews or garden room.
Prices for four-beds have gone up to €975,000 on average and are expected to crash through the €1m barrier this year, while five-bed detached residences are up 10pc to €1.65m.
Supply is not likely to come close to meeting demand this year, so Doherty is predicting average value increases of 6pc.