Monday 23 April 2018

Three is the magic number but lacks supply

Clontarf Road, Clontarf, Dublin 3
Clontarf Road, Clontarf, Dublin 3

DUBLIN 3

(Excluding Clontarf)

Fairview, Marino, Ballybough, Clonliffe, East Wall, Dollymount, North Strand

Up 16%

One Year Forecast: Up 15%

Average Price: €250,000

Assessing Agent: Gunne Estate Agents

The Market:

All of these central Dublin 3 locations share the same characteristic: lack of supply.

In Marino, for example, at the higher end of this market seven bidders recently battled it out for a former corporation house which was offered for €200,000.

It eventually sold for €286,000.

Even in traditionally less sought after areas like East Wall, there is plenty of demand and far too few available homes to supply it. The larger period properties such as the two storey over basements, which have been traditionally let out as pre-63's in the D3 area, are generally in poor condition and require substantial investment under new planning changes.

The result is that they can often be acquired for the equivalent price of a much smaller family home.

Although prices have risen considerably from their lows towards the end of 2012, values still stand at around 40% lower than at peak, but now that gap is closing in earnest with prices expected to rise another 15% this year.

The prices:

1-bed apartment:

Jan 2013: €86,000

Jan 2014: €100,000

Jan 2015: €115,000

2-bed apartment:

Jan 2013: €194,000

Jan 2014: €225,000

Jan 2015: €259,000

1-bed cottage:

Jan 2013: €129,000

Jan 2014: €150,000

Jan 2015: €173,000

2-bed cottage:

Jan 2013: €172,000

Jan 2014: €200,000

Jan 2015: €230,000

Ex-corporation 2-bed:

Jan 2013: €129,000

Jan 2014: €150,000

Jan 2015: €173,000

Ex-corporation 3-bed:

Jan 2013: €147,000

Jan 2014: €170,000

Jan 2015: €196,000

2-bed townhouse:

Jan 2013: €190,000

Jan 2014: €220,000

Jan 2015: €253,000

3-bed terrace:

Jan 2013: €259,000

Jan 2014: €300,000

Jan 2015: €345,000

4-bed terrace:

Jan 2013: €310,000

Jan 2014: €360,000

Jan 2015: €414,000

3-bed duplex:

Jan 2013: €233,000

Jan 2014: €270,000

Jan 2015: €310,000

3-bed semi:

Jan 2013: €310,000

Jan 2014: €360,000

Jan 2015: €414,000

4-bed semi:

Jan 2013: €345,000

Jan 2014: €400,000

Jan 2015: €460,000

Period 2/3 storey over basement:

Jan 2013: €259,000

Jan 2014: €300,000

Jan 2015: €345,000

 

 

DUBLIN 3

(Clontarf Only)

Up 22%

One Year Forecast: Up 15%

Average Price: €380,000

Assessing Agent: Gunne Estate Agents

The Market:

"Clontarf does well in the bad times and exceptionally well in the good times," says Paul Menton of Gunne Estate Agents of the north-central coastal suburb which has rapidly raised its value relative to other Dublin locations in the past five years.

Buyers have increasingly realised the value of Clontarf's fabulous sea views, its waterfront, its amenities, and its valuable proximity to the city centre. With values up 22% in 12 months, this enclave has been experiencing some of the country's fastest increasing values.

Clontarf is compact enough and there's little room for more development.

The squeeze on supply which has seen some mighty bidding battles for homes here looks unlikely to ease off any time soon. Recently, a detached three-bedroom Clontarf bungalow guiding €550,000 fetched well over €1m.

The Prices:

1-bed apartment:

Jan 2013: €143,000

Jan 2014: €175,000

Jan 2015: €201,000

2-bed apartment:

Jan 2013: €189,000

Jan 2014: €230,000

Jan 2015: €265,000

2-up/2-down:

Jan 2013: €217,000

Jan 2014: €265,000

Jan 2015: €305,000

3-bed terrace:

Jan 2013: €369,000

Jan 2014: €450,000

Jan 2015: €518,000

1-bed cottage:

Jan 2013: €189,000

Jan 2014: €230,000

Jan 2015: €265,000

2-bed cottage:

Jan 2013: €262,000

Jan 2014: €320,000

Jan 2015: €368,000

3-bed townhouse:

Jan 2013: €344,000

Jan 2014: €420,000

Jan 2015: €483,000

3-bed mews:

Jan 2013: €328,000

Jan 2014: €400,000

Jan 2015: €460,000

3-bed duplex:

Jan 2013: €316,000

Jan 2014: €385,000

Jan 2015: €443,000

3-bed semi:

Jan 2013: €492,000

Jan 2014: €600,000

Jan 2015: €690,000

4-bed semi:

Jan 2013: €615,000

Jan 2014: €750,000

Jan 2015: €863,000

3-bed bungalow:

Jan 2013: €820,000

Jan 2014: €1m

Jan 2015: €1.15m

4-bed bungalow:

Jan 2013: €1.025m

Jan 2014: €1.25m

Jan 2015: €1.438m

5-bed detached:

Jan 2013: €984,000

Jan 2014: €1.2m

Jan 2015: €1.38m

Detached 1500-2000 sq ft:

Jan 2013: €1.844m

Jan 2014: €2.25m

Jan 2015: €2.5875m

Period 2/3 storey over basement:

Jan 2013: €738,000

Jan 2014: €900,000

Jan 2015: €1.035m

Period 4/5 storey over basement:

Jan 2013: €2.13m

Jan 2014: €2.6m

Jan 2015: €2.99m

Irish Independent

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