Dublin 7: Double digit growth across the board in uber-cool neighbourhood

Price rises of over 10pc are forecast for some house types in Dublin 7 where this property at No2 Montpelier Gardens, Arbour Hill sold for €495k

January 22 2022 02:30 AM

How much is your House worth in 2022?

With prices up 10pc on a year ago, D7’s market has been increasingly popular among buyers seeking a central and mature location.

First-time buyers like the idea of living in a postcode that consistently makes the cut on global lists of ‘cool’ neighbourhoods.

Then there are the D7 ‘lifers’, who didn’t need to be told about the joys of living in areas like Smithfield, Stoneybatter, Phibsborough and Grangegorman, which are a short walk or trip on the Luas into the city centre.

Those who start off in Cabra or Stoneybatter, tend to move towards the bigger houses around Phibsborough as their families grow.
Three-bed semis rose in value by 10pc, taking the average price to €475,000.

Average Price €475,000
Areas Phibsboro, North Circular Road, Cabra, Stoneybatter, North City Centre, Arbour Hill
Up + 10%
One Year Forecast + 4%
Assessing Agent Douglas Newman Good

Popular house types like one and two-bed cottages went up by 9-11pc, with one-beds now priced at €260,000 and two-beds at €295,000.
Two-up/two-downs are up by 13pc, and at the top of the Dublin 7 market, four/five-storey over basement houses on roads like the North Circular have increased value by an eye-watering 16pc, taking them to €1.1m.

All buyer types were actively looking, from first-time buyers to trader-uppers to investors.

House Type	2021	2022	2023
3-bed Semi	€430,000	€475,000	€490,000
4-bed Semi	€515,000	€565,000	€585,000
4-bed Detached	€690,000	€750,000	€775,000
One-bed Apartment	€225,000	€250,000	€275,000
Two-bed Apartment	€295,000	€330,000	€350,000
2up/2Down	€300,000	€340,000	€380,000
1-bed Cottage	€235,000	€260,000	€275,000
2-bed Cottage	€270,000	€295,000	€330,000
Ex-Corporation 2-bed	€320,000	€350,000	€365,000
Ex-Corporation 3-bed	€335,000	€370,000	€380,000
3-bed Townhouse	€405,000	€445,000	€455,000
3-bed Mews	€320,000	€350,000	€360,000
2/3 Storey Over Basement	€750,000	€815,000	€830,000
4/5 Storey Over Basement	€950,000	€1,100,000	€1,150,000

According to local agent Vincent Mullen of DNG, most disposals are either executor sales or from those who want to leave the city altogether for a larger property with a garden and home office, spurred by the new option of remote working.

However, properties in need of renovation struggled to sell without price cuts because of the rising construction costs. But there were always exceptions.

One of the biggest sales in the area last year was No 143 North Circular Road. A former boarding house for farmers attending the long demolished Dublin Cattle Market on nearby Prussia Street, it sold for €1.3m, even though it was set out in flats and in need of a full refurbishment.

Mullen believes that houses with gardens and space for a home office will remain in big demand in the coming year.

Property Hotspot: Cabra

Former corporation houses are in big demand with prices going well above asking price due to the popularity amongst young buyers.

And with supply still expected to be tight in 2022, he is forecasting an average rise of 4pc in values in Dublin 7. He thinks hikes could be as low as 2-3pc for townhouses and three and four-bed semis, but could go as high as 11pc for the cheaper homes at the lower end of the market like two-up/two-downs and two-bed cottages.