Dublin 24: D24 set to flatline despite an affordable market
15C Old Court Cottages, Old Court Road, Tallaght, was sold in November for €439k by DNG Tallaght
Dublin 24 is one of the more affordable parts of the capital, with houses to suit every kind of buyer. New homes around Citywest are very popular with first-time buyers; apartments are in demand with Eastern Europeans who have decided to put down roots in Ireland, and estates around Oldbawn and Kilnamanagh are proving popular with family buyers generally.
Prices are up slightly on last year by 4pc across most property types. Marc Browne from DNG doesn't see them rising any further this year, however.
"Overall, we've probably flatlined," he says. "The first half of last year was a lot stronger price-wise and then it all slowed down. For some reason June was our busiest month since the recession, then July and August were quiet again. As soon as it picked up again in September, Brexit fear hit, and October was dead. Then November was non-stop."
Buyers in Dublin 24 are becoming more aware of energy ratings and putting a lot of thought into those criteria. "New houses with A-rating were very attractive to first-time buyers," states Browne. "With all the talk of energy efficiency, people were definitely more concerned about BER ratings. Some were even reluctant to view houses with low certs."
- Average Price €364,000
- Areas Tallaght, Ballycullen, Firhouse, Jobstown, Old Bawn, Kilnamanagh, Citywest
- Up + 4%
- One Year Forecast 0%
- Assessing Agent
Douglas Newman Good
Turnkey properties definitely achieved a premium in 2019, whereas houses that needed refurbishment struggled, given the cost and availability of builders.
Despite this Browne noticed that the older areas were top. "Places like Millbrook and Oldbawn got a lot of interest because they are good, solid family homes with driveways and big gardens, with schools in walking distance."
Dublin 24
| House Type | 2019 | 2020 | 2021 |
|---|---|---|---|
| 3-bed Semi | €350,000 | €364,000 | €364,000 |
| 4-bed Semi | €400,000 | €416,000 | €416,000 |
| 4-bed Detached | €425,000 | €442,000 | €442,000 |
| 3-bed Bungalow | €330,000 | €343,000 | €343,000 |
| One-bed Apartment | €165,000 | €172,000 | €172,000 |
| Two-bed Apartment | €230,000 | €239,000 | €239,000 |
| 2up/2Down | €255,000 | €265,000 | €265,000 |
| 3-bed Terrace | €275,000 | €286,000 | €286,000 |
| Ex-Corporation 2-bed | €180,000 | €187,000 | €187,000 |
| Ex-Corporation 3-bed | €215,000 | €224,000 | €224,000 |
| 2-bed Townhouse | €265,000 | €276,000 | €276,000 |
| 3-bed Townhouse | €315,000 | €328,000 | €328,000 |
| 3-bed Duplex | €275,000 | €286,000 | €286,000 |
| Detached 2000+ Sq Ft | €650,000 | €650,000 | €650,000 |
| Bungalow Acre | €410,000 | €410,000 | €410,000 |
| Bungalow Acre+ | €450,000 | €450,000 | €450,000 |
It's not just about the house types. "Settled areas like Kilnamanagh and Oldbawn have generations of the same family living there. Once people start having kids, they want to be close to their parents," says Browne.
At the higher end of the market, four-bed detached houses are valued at €442,000 on average and four-bed semis now stand at €416,000.
Property Hotspot: Oldbawn
Buyers looking for homes with garages and decent gardens, within walking distance of schools tend to trade up to houses in Oldbawn
At the top, detached 2,000sq ft-plus homes remain at an average of €650,000.
Browne's advice for buyers in the year ahead is to go for it. "I don't think there's going to be any major drop in values so, like last year, it should be a buyers' market. It's still affordable in Dublin 24 and it makes sense to buy now because a mortgage is cheaper than rent, and you have security of tenure."
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