Tuesday 23 January 2018

Voracious appetite for family homes in Dublin 5

Springdale Road, Raheny
Springdale Road, Raheny
Mark Keenan

Mark Keenan

DUBLIN 5:

Raheny, Coolock, Artane, Harmonstown

Up 15%

One Year Forecast: Up 10%

Average Price: €270,000

Assessing Agent: Douglas Newman Good.

The Market:

Dublin 5 saw an especially voracious appetite for three and four-bed mature family homes in Raheny – especially around St Anne's Park.

The popularity of neighbouring Clontarf caused some overspill of high-end home hunters over the postcode boundary as they became priced out of the top D3 address.

An open viewing of a three-bed semi in Raheny Park which was in need of work and investment recently attracted 47 parties on a single Saturday afternoon. There has been a similar demand for homes on Adams Road.

Through the rest of Dublin 5 demand is reported as being "steady and strong".

"There isn't much building going on and there is very little land available for it into the future," says DNG's Ronan O'Malley.

"There will be infills and small pockets but in the main unless there is significant rezoning, the stock will remain relatively constant."

Cash buyers have been out in force too and accounting for around 50% of sales – consistent with most other mature Dublin locations.

Investors have also been very active here – attracted by the city centre and Dart access which make Dublin 5 a good rental proposition.

This year will see the pace of growth slowing as the impetus and urgency caused by cash buyers begins to wane but even so, continued demand is set to increase prices in Dublin 5 by 10% in the year ahead.

The Prices:

1-bed apartment:

Jan 2013: €96,000

Jan 2014: €110,000

Jan 2015: €121,000

2-bed apartment:

Jan 2013: €117,000

Jan 2014: €135,000

Jan 2015: €149,000

2-bed cottage:

Jan 2013: €170,000

Jan 2014: €195,000

Jan 2015: €214,000

Ex-corporation 2-bed:

Jan 2013: €135,000

Jan 2014: €155,000

Jan 2015: €170,000

Ex-corporation 3-bed:

Jan 2013: €152,000

Jan 2014: €175,000

Jan 2015: €192,000

2-bed townhouse:

Jan 2013: €135,000

Jan 2014: €155,000

Jan 2015: €170,000

3-bed townhouse:

Jan 2013: €152,000

Jan 2014: €175,000

Jan 2015: €192,000

3-bed duplex:

Jan 2013: €157,000

Jan 2014: €180,000

Jan 2015: €198,000

3-bed semi:

Jan 2013: €222,000

Jan 2014: €255,000

Jan 2015: €280,000

4-bed semi:

Jan 2013: €296,000

Jan 2014: €340,000

Jan 2015: €374,000

3-bed bungalow:

Jan 2013: €,000

Jan 2014: €270,000

Jan 2015: €,000

4-bed bungalow:

Jan 2013: €278,000

Jan 2014: €320,000

Jan 2015: €352,000

5-bed semi:

Jan 2013: €348,000

Jan 2014: €400,000

Jan 2015: €440,000

5-bed detached:

Jan 2013: €522,000

Jan 2014: €600,000

Jan 2015: €660,000

Irish Independent

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