Dublin 8: Buyers priced out of D6 make a beeline for D8
DEMAND for family-sized homes in particular is very strong in Dublin 8, with the majority of properties achieving their asking price and beyond. This is down to the fact there are relatively few large family houses for sale in the postcode, with anything over 1,600 sq ft in particularly short supply.
Eunan Doherty of DNG says that property prices increased by 15pc, even more than the 13pc he had predicted for this market a year ago. "Dublin 8 continues to get trendier and trendier," he says. Homes regularly fetch beyond agents' predictions.
Doherty gives the example of 12 Dolphin Avenue - a family home in very good condition with a large garden and rear access on a nice street - which went on the market asking €675,000 but went on to achieve €990,000.
"You will rarely see a five-bedroom house in Dublin 8, so there is huge interest in properties on Stamer Street and Carlisle Street and massive viewing numbers. When buyers look across the canal into Dublin 6, they can see that Dublin 8 still offers relatively good value. A number of buyers are telling us they have only started to take Dublin 8 into account recently, because they have been priced out of Dublin 6. They see that they can have a similar lifestyle in Dublin 8, particularly in Portobello, where there are great shops, cafés and restaurants. Young professionals used to living close to town do not want to move to the suburbs and start having to deal with traffic just because they are thinking about starting a family."
That said, D8 is no different from any other Dublin postcode regarding price-sensitivity. Buyers do their research, so if an asking price is overly ambitious, Doherty says interest will be killed. Although the whole of Dublin 8 is a busy market, the stretch of red-brick Victorian houses along the South Circular Road between Clanbrassil Street and Donore Avenue is "as heated as it gets", says Doherty, who also reports plenty of interest in the 1920s houses on Clarence Mangan Road.