Tuesday 21 August 2018

Dublin 6: Rathmines will be the big story of D6 this year

Eagle Lodge, 36 Rathgar Avenue, sold last November for €1.41m
Eagle Lodge, 36 Rathgar Avenue, sold last November for €1.41m

The revitalisation of Rathmines continues to be the big story in Dublin 6, with the recent reopening of the Stella cinema as a retro movie and cocktail venue, the opening of Fallon & Byrne in the revamped Swan Centre and a general scrub-up in shop outlets and eateries - all contributing to ever-increasing interest from buyers in the area.

The original JoBurger has also been reinvented as Hey Donna, which has received good reviews for its Yotam Ottolenghi style food and casual, Australian-inspired interior. More retailers and restaurants are expected to open during the course of 2018.

Proximity to the city centre, which is within walking and cycling distance, is also a key reason that property prices in Dublin 6 are on the up.

Parts of Dublin 6, especially Rathmines, have traditionally been associated with flatland, but increasingly houses in multi-occupancy are being bought and returned to single- family use, particularly in areas such as Kenilworth Square and Rathgar Road.

Agent Pat Mullery of DNG says that these houses have been underappreciated for too long and that he has noticed particular interest in them from expats. "During 2017, there was a lot of 'feeling out the market' going on, driven by Brexit. By and large, most of the people looking are originally Irish, and of course the value here compared to London makes these period houses very attractive."

Dublin 6 has the highest average property price in Dublin due to the high number of larger abodes here, and Mullery confirms that there are plenty of buyers in the €1-1.5m price bracket, with two and three bidders on most properties.

"There is now scarcity in a lot of sectors. But at the upper end of the market, north of €2m, demand slows down considerably," he says.

For the year ahead, Mullery is predicting a cautious 6pc increase in values, but says that he "will not be surprised" if this figure goes higher.

Irish Independent


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