Sunday 17 December 2017

Cash buyers are making up the majority of overall sales in D9

Swiss Cottage, Santry
Swiss Cottage, Santry
Mark Keenan

Mark Keenan

DUBLIN 9

Drumcondra, Glasnevin, Santry, Beaumont, Whitehall.

Up 19%

One Year Forecast: Up 9%

Average Price: €350,000

Assessing Agent: Kelly Bradshaw Dalton

The Market:

Even if Bertie isn't about to resurrect his political career any time soon, the good times appear to be back for estate agents around Drumcondra where queues are forming for viewings regardless of the condition of the properties on offer.

Prices were around 19% higher at the end of 2013 than a year previously because of a lack of supply and no new-builds in prospect.

The area has a relatively high preponderance of family homes within easy distance of the city centre and the rental market here has traditionally been strong because of its easy commute to town, the Mater Hospital and Dublin City University.

The break on Capital Gains Tax is currently driving the demand for investment apartments, many of which are yielding around 7% on top of capital appreciation – good numbers in anyone's books. There are plenty of cash buyers: more than 60% of overall sales are accounted for by straight cash payments.

There has also been a migration northside to this area as under-bidders on properties across the Liffey seem prepared to cross over in search of better value.

The poor condition of many of the larger Pre '63 properties now in need of investment means that they're actually cheaper to buy today in many cases than the smaller two and three storey over basement period properties.

The Prices:

1-bed apartment:

Jan 2013: €126,000

Jan 2014: €150,000

Jan 2015: €164,000

2-bed apartment:

Jan 2013: €151,000

Jan 2014: €180,000

Jan 2015: €196,000

2-up/2 down:

Jan 2013: €231,000

Jan 2014: €275,000

Jan 2015: €300,000

3-bed terrace:

Jan 2013: €273,000

Jan 2014: €325,000

Jan 2015: €355,000

1-bed cottage:

Jan 2013: €189,000

Jan 2014: €225,000

Jan 2015: €245,000

2-bed cottage:

Jan 2013: €231,000

Jan 2014: €275,000

Jan 2015: €300,000

Ex-corporation 2-bed:

Jan 2013: €176,000

Jan 2014: €210,000

Jan 2015: €229,000

Ex-corporation 3-bed:

Jan 2013: €273,000

Jan 2014: €325,000

Jan 2015: €355,000

2-bed townhouse:

Jan 2013: €189,000

Jan 2014: €225,000

Jan 2015: €245,000

3-bed mews:

Jan 2013: €264,000

Jan 2014: €315,000

Jan 2015: €343,000

3-bed duplex:

Jan 2013: €231,000

Jan 2014: €275,000

Jan 2015: €300,000

3-bed semi:

Jan 2013: €319,000

Jan 2014: €380,000

Jan 2015: €414,000

4-bed semi:

Jan 2013: €462,000

Jan 2014: €550,000

Jan 2015: €600,000

3-bed bungalow:

Jan 2013: €252,000

Jan 2014: €300,000

Jan 2015: €327,000

4-bed bungalow:

Jan 2013: €286,000

Jan 2014: €340,000

Jan 2015: €371,000

5-bed semi:

Jan 2013: €546,000

Jan 2014: €650,000

Jan 2015: €709,000

Period 2/3 storey over basement:

Jan 2013: €462,000

Jan 2014: €550,000

Jan 2015: €600,000

Period 4/5 storey over basement:

Jan 2013: €420,000

Jan 2014: €500,000

Jan 2015: €545,000

Detached house on own grounds:

Jan 2013: €966,000

Jan 2014: €1.15m

Jan 2015: €1.255m

Irish Independent

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