Wednesday 24 January 2018

Wide variety helping sales

Apartments in Ballymun
Apartments in Ballymun

DUBLIN 11

Finglas, Ballymun, Glasnevin.

Up 15%

One Year Forecast: Up 10%

Average price: €150,000

Assessing Agent: Wilson Moore

The Market:

The area comprising Finglas and Glasnevin among its better-known suburbs had been scraping along the bottom prior to last year but is now showing healthy signs of recovery across the board, says Christina Wilson, who set up her estate agency in 2007, the year the market crashed, and now claims to be the last remaining estate agent based in the Finglas area. Wilson says prices rose by 15% on average throughout the area which has a wide variation of property types from smaller homes in Ballymun and Finglas to the much more expensive period red brick semis of Glasnevin.

The stock comprises houses mainly but a number of apartments were built during the boom years and they have become popular with foreign nationals in particular.

The area is close to the city, Dublin City University and the M50.

"Values started changing here big time about a year ago," says Wilson. "Now, there is practically nothing on my books that I wouldn't be confident of selling - and quickly."

Much of the demand, particularly in Finglas is from people who have grown up in the area and now want to buy back in again to raise a family. About half are borrowing to purchase - the main banks starting lending again last year - and about half are buying with all or some cash which they have squirreled away.

"I can see the market rising by 10% again this year so long as stressed sales from the banks don't start to make an impact. That's the big worry I'd have for values in the coming twelve months," says Wilson.

The Prices:

1-bed apartment:

Jan 2013: €96,000

Jan 2014: €110,000

Jan 2015: €121,000

2-bed apartment:

Jan 2013: €113,000

Jan 2014: €130,000

Jan 2015: €143,000

2-bed cottage:

Jan 2013: €130,000

Jan 2014: €150,000

Jan 2015: €143,000

Ex-corporation 2-bed:

Jan 2013: €104,000

Jan 2014: €120,000

Jan 2015: €132,000

Ex-corporation 3-bed:

Jan 2013: €122,000

Jan 2014: €140,000

Jan 2015: €154,000

3-bed townhouse:

Jan 2013: €157,000

Jan 2014: €180,000

Jan 2015: €198,000

3-bed duplex:

Jan 2013: €152,000

Jan 2014: €175,000

Jan 2015: €192,000

3-bed semi:

Jan 2013: €122,000

Jan 2014: €140,000

Jan 2015: €154,000

4-bed semi:

Jan 2013: €183,000

Jan 2014: €210,000

Jan 2015: €231,000

3-bed bungalow:

Jan 2013: €126,000

Jan 2014: €145,000

Jan 2015: €159,000

5-bed semi:

Jan 2013: €230,000

Jan 2014: €265,000

Jan 2015: €291,000

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