Sunday 19 November 2017

Is this the start of the recovery?

A Dublin development has managed to sell 13 houses off the plans during the last five weeks -- the first time in years that houses have been selling off the plans.

This just one of a number of developments to record increased sales activity in recent weeks.

At the Crosforge development in Saggart, Co Dublin, developer Anthony Neville & Sons has taken deposits for 19 houses, most of which are three bedroom terraced houses priced from €205,000.

They also include a few four- bedroom houses priced between €225,000 and €275,000. Of the 19 deposits, six are for houses that are already built, with the other houses due for completion by August this year.

Estate agent David Browne of HT Meagher O'Reilly believes that these sales may be among the first signs of recovery in the new homes market.

In this first phase, 24 houses will be built at the Crosforge development which will ultimately consist of 69 houses.

"The developer has gone to great lengths to provide attractively styled, larger A-rated houses and the standard three- bedroom houses are 114sqm which is significantly bigger than average. They also come with solar panels, appliances and fitted kitchens.

"The majority of the buyers are first timers from the locality," he adds.

Meanwhile the receiver for Manor Park Homes has sold 35 homes in the Barnwell Hansfield development in Ongar, Dublin 15 in the last four months.

These were built in the final phase of the 240 house development which was launched for sale in early February following the receivership of the original developer Manor Park Homes. Prices at Barnwell ranged from €119,950 for the two-bedroom houses while three-bedroom houses are priced from €154,950.

According to Ronan O'Driscoll of selling agents Savills just seven of the three- bedroom houses remain for sale.

"These prices are 50pc below the original prices that they were launched at in 2008 and are also substantially below replacement cost".

He also concurs with David Browne that houses in strong Dublin locations are selling well when priced competitively. "There are very few new houses completed and unsold in the Dublin area", he adds.

Irish Independent

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