Saturday 20 January 2018

Scarcity of three-bed semis creating demand for D24 'stepping stone' apartments

Silken Park, Citywest, D24
Silken Park, Citywest, D24
Mark Keenan

Mark Keenan

DUBLIN 24

Tallaght, Ballycullen, Firhouse, Jobstown, Old Bawn, Kilnamanagh, Citywest

Up: 20%

One Year Forecast: Up 13%

Average price: €160,000

Assessing Agent: Douglas Newman Good.

The Market:

There are wide price variations in D24 for the same property types, says Mark Brown of Douglas Newman Good. A three-bed semi can range from €120,000 in Jobstown to €260,000 or more nearer Firhouse.

Apartments, formerly almost impossible to sell in D24, have been selling strongly of late, with first time buyers acquiring them along with investors who are attracted to the strong returns and decent yields, particularly near the Luas stations.

New developments resurrected in Kiltipper and Citywest sold quickly when marketed. Many buyers are happier to buy apartments now as a stepping stone to a three-bed semi of which there simply isn't enough stock. Apartments are perceived as offering value as their values fell off a cliff during the crash.

There is evidence now that smaller lenders are finally extending credit for home purchase in this area.

Three-beds are strongest within Old Bawn, along with Kilnamanagh and Firhouse. Grown up children who had left are keen to move back there, particularly with the M50 and Luas nearby.

Near the N81, investors are buying in Jobstown, with three-beds fetching €100,000. Others in receivership are being snapped up by cash investors as they present good rental returns.

The Prices:

1-bed apartment:

Jan 2013: €67,000

Jan 2014: €80,000

Jan 2015: €90,000

2-bed apartment:

Jan 2013: €92,000

Jan 2014: €110,000

Jan 2015: €124,000

2-up 2-down:

Jan 2013: €116,000

Jan 2014: €140,000

Jan 2015: €158,000

3-bed terrace:

Jan 2013: €160,000

Jan 2014: €180,000

Jan 2015: €203,000

Ex-corporation 2-bed:

Jan 2013: €67,000

Jan 2014: €80,000

Jan 2015: €90,000

Ex-corporation 3-bed:

Jan 2013: €83,000

Jan 2014: €100,000

Jan 2015: €113,000

2-bed townhouse:

Jan 2013: €116,000

Jan 2014: €140,000

Jan 2015: €158,000

3-bed townhouse:

Jan 2013: €133,000

Jan 2014: €160,000

Jan 2015: €181,000

3-bed semi:

Jan 2013: €195,000

Jan 2014: €235,000

Jan 2015: €256,000

4-bed semi:

Jan 2013: €250,000

Jan 2014: €300,000

Jan 2015: €339,000

4-bed detached:

Jan 2013: €300,000

Jan 2014: €360,000

Jan 2015: €407,000

3-bed bungalow:

Jan 2013: €188,000

Jan 2014: €225,000

Jan 2015: €254,000

3-bed duplex:

Jan 2013: €125,000

Jan 2014: €150,000

Jan 2015: €170,000

Detached 2000 + sq ft:

Jan 2013: €442,000

Jan 2014: €530,000

Jan 2015: €599,000

Bungalow 1/2 acre:

Jan 2013: €263,000

Jan 2014: €315,000

Jan 2015: €356,000

Bungalow over 1/2 acre:

Jan 2013: €300,000

Jan 2014: €360,000

Jan 2015: €407,000

Irish Independent

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