Monday 25 March 2019

Huge interest as buyers home in on Portmarnock

Another development launches this weekend, and there are others still in the offing, writes Liadan Hynes

Dún Sí, St Marnock's Bay
Dún Sí, St Marnock's Bay

Liadan Hynes

It is just over two years since Ballymore launched Portmarnock new homes development, St Marnock's Bay. At the time, demand was so pent up that, in advance of the highly anticipated launch, a queue of buyers formed outside the site.

This weekend, Patrick Durkan's D|Res Properties launches a new development immediately adjacent to the Ballymore site on Station Road - Dun Si, St Marnock's Bay. The market has changed somewhat since 2017. While achieving funding is still a challenge for many buyers, and even if you have managed to get mortgage approval, lack of affordability means homes are out of the range of many. Even so, it is somewhat more of a buyer's market, in the sense that supply, and therefore choice, is far more plentiful than two years ago.

Portmarnock has seen a surge in new homes stock. Aside from this weekend's launch, the area currently has a number of new homes developments on the market, as well as some still to come. Drumnigh Manor will launch before the summer, most likely next month, and will include three, four and five-bedroom houses, terraced and semi-detached.

Station Manor, also on Station Road, includes four and five-bed houses, priced from €562,000 to €725,000. Hazel Manor, on Strand Road, in Portmarnock, is a niche development of four semi-detached units. Three are still available, priced from €725,000.

Locally based agent Noel Kelly is launching Ashwood Hall in Malahide in April. It will feature four and five-bedroom detached homes, with prices starting at more than €1m.

While queues may not be a typical sight now at new homes launches (although ticketing systems take the pain out of queueing for buyers), this weekend's launch has seen huge advance interest, with more than 1,000 buyers on the registered list.

Dún Sí, St Marnock's Bay
Dún Sí, St Marnock's Bay

This phase sees 26 three and four-bedroom homes released to the market. There is planning permission for 150 units in total.

The Warren is a three-bedroom unit, approximately 111.6sqm, priced from €490,000 for the terraced version, and from €500,000 for the semi-detached version. These homes include an open-plan kitchen living room, with utility room, as well as a second, separate, living room. Of the three bedrooms, one is single and two are double, with en-suite and walk-in wardrobe in the master bedroom.

At these prices, the units qualify under the Help-to-Buy scheme, which so far remains in existence until only the end of the year. While Portmarnock is not classic first-time buyer (FTB)territory, it is one of the affluent Dublin suburbs which sees a large number of FTBs, usually those with links to the area, receiving financial backing from their parents. Of those registered for this scheme, around 70pc are FTBs, estimates selling agent David Blacoe, of Savills. The remainder are a mixture of trade-up and trade-down purchasers.

The Kingfisher is a four-bed detached unit, approximately 135sqm, priced from €610,000. This unit includes a large, open-plan kitchen, dining room, living room with double doors to the garden, a utility room, and a large formal living room which also enjoys access to the rear garden. Bedrooms include three doubles and one single, with a master suite which includes en-suite and walk-in wardrobe. The Curlew is a four-bed terraced unit, approximately 152sqm, priced from €630,000, and the Merlin is a four-bed end-of-terrace unit, from approximately 161.9sqm, priced from €675,000.

Windows are triple-glazed by Rationel, kitchens by Kube, worktops are quartz, and appliances are by Neff. Contemporary wall panelling, oak handrails and recessed lighting in the stairs are provided as standard. The electrical spec includes USB integrated power points, an extremal electrical point in the rear garden, and pre-wiring for electrical vehicle charging points.

Viewing: Today, 2-4pm

Agent: Savills New Homes (01) 618 1300

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