Tuesday 12 December 2017

Sold out: First-time buyers snap up homes within hours of housing scheme going on the market

'They sold exceptionally fast' - says selling agent

The Hawthorn scheme in Clonskeagh
The Hawthorn scheme in Clonskeagh

A housing scheme in south Dublin sold out within hours of going on the market.

It has emerged that 49 properties in the Hawthorn development in Clonskeagh were snapped up in less than a day, with most bought by first-time buyers.

The properties ranged in price from €400,000 to €770,000, the Irish Independent has learned.

Selling agent Ken MacDonald, of Hooke & MacDonald, said that the properties sold "exceptionally fast".

He said the rapid sell-off reflected the chronic shortage of homes for sale, with more than twice as many people with mortgage approval as there are new properties coming on to the market.

Mr MacDonald said it was years since a housing scheme had sold so quickly.

Hopeful homebuyers line up at the new development in Baldoyle. Photo: Arthur Carron
Hopeful homebuyers line up at the new development in Baldoyle. Photo: Arthur Carron

"They all sold on the day. It is good in one way, and sad also as there are not enough houses for everybody," he said.

"But we have plenty more coming on stream."

Mr MacDonald said that there was no queue of buyers as properties went on view and on sale at the same time.

The show houses opened from 7am last Thursday and deposits started being paid as soon as people had looked around them.

Two-bed apartments were on sale for €400,000, with three duplexes selling for €500,000.

The four-bed houses in the Bird Avenue scheme sold for between €650,000 and €770,000, Mr MacDonald said.

"They sold exceptionally fast.

"It is in line with research published in the Irish Independent recently showing twice as many people have mortgage approval as there are new properties for sale," he added.

First-time buyers

Mr MacDonald said 60pc of the purchasers were first-time buyers, who have the benefit of the Government's help-to-buy scheme.

The rest of those who snapped up properties in the new development were movers.

"The properties were bought 100pc by owner occupiers," he said.

The Hawthorn scheme was built by Brian M Durkan & Company.

Meanwhile, a group of would-be home buyers were camped outside a new housing estate in Baldoyle, Fingal, north Dublin, last night, eager to be among the first to make an offer on the 26 new units still under construction at the Silverbank development.

Eleven desperate home buyers sat in lawn chairs, their names and spot in the queue marked out on signs behind them.

A middle-aged man, who did not want to be named, said: "It is what it is.

"I'm doing it for my daughter."

One-bedroom apartments start at €155,000 at the estate in Baldoyle, while two-bedroom properties are going for a starting price of €250,000.

Irish Independent

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