Saturday 18 November 2017

Market recovery has kicked in but supply is tight

Homes in Sutton
Homes in Sutton

DUBLIN 13

Baldoyle, Sutton, Donaghmede, Clongriffin.

Up 11%

One Year Forecast: Up 11%

Average price: €285,000

Assessing Agent: Property Team JB Kelly.

The Market:

The D13 market began to show signs of recovery in mid-2013 and it has kicked back into life ever since. Confidence appeared to return overnight says local agent Joe Kelly.

Supply is tight, most particularly at the higher end of the market but prices are still around 40% off peak. The more established and mature areas are doing particularly well.

More exclusive homes on the Sutton waterfront have experienced the greatest surge in demand with a particular interest coming from overseas based buyers through the last twelve months.

These are eager to buy an Irish retirement base near the bottom.

Agents have also noted a new high in the numbers prepared to trade down; move to a smaller home and pocket a wad of cash in the process.

while developers are expected to finish partially built estates in newer areas like Clongriffin.

"There is no need for green field development here when the push should now be on to finish out what has already been started," said Mr Kelly.

Demand should continue for the next twelve months and in the absence of any upsets, homes are likely to clock up another 11% in value by the end of 2014.

The Prices:

1-bed apartment:

Jan 2013: €162,000

Jan 2014: €180,000

Jan 2015: €200,000

2-bed apartment:

Jan 2013: €207,000

Jan 2014: €230,000

Jan 2015: €255,000

Ex-corporation 3-bed:

Jan 2013: €243,000

Jan 2014: €270,000

Jan 2015: €300,000

3-bed townhouse:

Jan 2013: €297,000

Jan 2014: €330,000

Jan 2015: €366,000

3-bed semi:

Jan 2013: €225,000

Jan 2014: €250,000

Jan 2015: €278,000

4-bed semi:

Jan 2013: €297,000

Jan 2014: €330,000

Jan 2015: €366,000

Detached house on own grounds:

Jan 2013: €1.2m

Jan 2014: €1.35m

Jan 2015: €1.5m

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