Luxury home on a private cul-de-sac in the heart of Dun Laoghaire
Eglinton, 90 Roseland Avenue, Cualanor, Dun Laoghaire, Co Dubln €1.75m
The latest figures published by the Central Statistics Office (CSO) show that house prices for new builds have jumped by nearly 60pc since 2010. Prices for a second-hand home have risen by just 11pc over the same period.
There's been a turnaround in the type of house we want to buy, it seems.
The figures show that demand for the different types of property has flipped - back in 2010, second-hand homes were 25pc more expensive than new builds. Now, new homes are on average 15pc more expensive.
Experts point to a number of factors as drivers for the increased popularity of new homes - including their higher spec and energy efficiency, better infrastructure on housing schemes, such as crèche facilities, playgrounds and access to public transport, and established residential areas.
The epicentre of price growth in the latest CSO figures is Dun Laoghaire-Rathdown where average prices have doubled to €618,026, the highest property increases in Dublin.
It is an area where two large housing schemes by the Cosgrave brothers have come to market over the past two years. Honeypark, which is nearing completion, and Cualanor, which is still under construction, are both sited just off Glenageary Road Upper, on the site of the former Dun Laoghaire Golf Club.
Cualanor is a mixture of roughly 500 apartments and 200 houses and bears all the hallmarks of a Cosgrave scheme - well-thought out green areas, including playgrounds, woodland and parks, energy-efficient houses, even outside charge points for electric vehicles.
"We were the first to do that," points out Joe Cosgrave. "We have a power point for every single house. That's standard."
Follow the curving road through the development, past the playground and parks, and you come eventually to a quiet cul de sac. Here, fronted by a lawn and looking out over the newly built home of the Dun Laoghaire Lawn Bowling Club, is a detached two-storey house that runs to 307sqm. It's the only such home in the scheme.
"We just decided to do something a little different there," says Joe. "It is probably the best corner of the whole site, where the outlook is the lawn and there's proximity to the main park but also proximity to Dun Laoghaire."
Eglinton is built along the lines of previous high-end detached homes constructed by the Cosgrave Group, both at Thormanby Hill and, most memorably, in Ardilea Wood, where the first €1m-plus luxury scheme in Dublin appeared back in 2000.
There are automated gates opening onto a cobblelock front garden with space for three or four cars to the side of the property.
The double-fronted property has an impressive entrance way with double doors and glass surrounds. The hallway is panelled, the floors are porcelain-tiled and to the right lead to a huge open plan kitchen/eating/living room with French doors opening on to the garden. The interiors throughout are by Brian S Nolan, and decked out in fashionable shades of greys and whites with floors in tile, parquet or deep-pile carpet.
The bespoke built-in kitchen by Pattersons has quartz worktops and the Miele appliances include double ovens and the latest essentials for the well-dressed kitchen - a boiling water tap and wine cooler.
One of the bugbears of many a cook in an open plan kitchen is that dirty pots and pans are on view as you sit to eat. Here, the central island is raised above the level of the surrounding countertops and should help camouflage the aftermath of prep for a big meal.
There is a dining area that easily accommodates eight, and a sitting area centred around a feature three-sided gas fire set into the back wall. A rooflight ensures the area is bathed in light, while French doors open onto one of the most attractive features of the property - a patio area with gas fire and retractable awning suitable for year-round BBQs.
Off the kitchen/living room is a utility room with washing machine and dryer, and plenty of storage for mucky sports kit and school bags. It also has access onto the patio. A cosy study/office or playroom leads off the utility room and back onto the main hall.
To the left of the hall is a second, more formal, dining room, as well as a drawing room that opens onto the landscaped rear garden.
The second floor comprises of five large bedrooms, all generous doubles, three of which have en suites with double showers. The master has a walk-in wardrobe. There is also a generously sized family bathroom
As is standard with Cosgrave builds, energy-efficiency is a high priority. Eglinton carries a BER rating of A2, with PV solar panels and a heat recovery ventilation system that will reduce energy bills. Joe Cosgrave estimates an annual energy bill would be around €1,500, cost effective for a property of this size.
This is where new builds win out over second hand homes in this price range, believes Joe. "Look at second-hand houses: they cost the same amount of money, but you'd be spending another €750,000 or half a million to get them to that level of standard and particularly insulation and UV values - that house will be cheap to run."
Eglinton benefits from being just a few minutes' walk from Dun Laoghaire town centre. There is a wide range of schools, as well as restaurants and other facilities on offer. There are sailing clubs galore in Dun Laoghaire, and tennis clubs nearby in Glenageary, Monkstown and Sandycove. As for bowls, the new owners need look no further than the green in front of their own house.
Agent Hooke & MacDonald (01) 631 8402
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