Prices flat in Dublin 14 but scarcity set to inflate
DUBLIN 14 AVERAGE PRICE: €525,000
Churchtown, Clonskeagh, Dundrum, Goatstown, Balally, Kilmacud, Milltown, Windy Arbour, Rathfarnham
Change: No change
One Year Forecast: 5%
Assessing Agent: DNG THE MARKET
Prices are unchanged in Dublin 14 on this time last year but scarcity is kicking in and expected to hike values up by 5pc in 2021.
It has been reported that Francis Rhatigan’s Winterbrook paid the Marist Fathers about €20m for the site at Mount St Mary’s, with Reddy Architecture and Urbanism appointed to develop plans for what is believed to be a high-density apartment complex with a near zero energy rating, co-working facilities and gym.
Increasingly however schemes like this in Dublin 14 have been built to let with not enough apartments offered openly for sale for those wanting to trade down. It’s been a bugbear for agents and buyers in D14 for many years and has been preventing older cou
ples from placing larger homes on the market.
Any new properties to the market will be welcomed by agents who are very short on supply after the year that was. Cathal McCarthy of DNG in Rathfarnham says the scarcity of houses will drive prices up in the area in the coming months.
He has noticed that since the country reopened after lockdown last year, there has been a strong appetite to purchase. Agents all over the country had to adjust to
a new way of doing things to keep the market going, and things were no different in Dublin 14.
“Viewings were by appointment only when we went back, so we could adhere to Government protocols,” says McCarthy.
“It was a much better way to conduct business from all parties involved. I believe open viewings will be a thing of the past.”
Houses up to the €1m mark on roads like Butterfield Drive and Park, and Crannagh and Rath
farnham Park were in demand. At the lower end, homes between €300,000-€400,000 around Nutgrove and Loreto sold well, with many in need of refurbishment.
A four-bed semi is still priced at €625,000 on average. At the lower end of the market, a two-bed ex-corporation property is averaging €325,000, while at the upper end, a detached 3,000-plus sq ft home is valued at €1.3m.
McCarthy believes prices will grow this year until stock levels are more plentiful. He estimates the tightness of stock will see a three-bed semi go up by 5pc to €550,000 and a two-bed cottage rise by 7pc to €375,000.