Hikes continue in D20 but slow bidding over €400k
AS in previous years, prices were performing strongly in the more mature parts of Dublin 20 during 2018, with old Palmerstown particularly in demand. Overall values are up by 6pc.
Three-bedroom semi-detached houses at Glenmaroon in Chapelizod were making €410,000, while prices of €420-440,000 were achieved in the Hollyville development in Palmerstown.
In this diverse postcode, prices vary considerably between one area and the next. A three-bedroom semi-detached house, for instance, can cost anything between €320,000 and €450,000, depending on where it is located. There can be a range in value of as much as €120,000 between similar properties located only half a mile apart.
In general, prices in Chapelizod are in the region of 15pc higher than in Palmerstown.
Local agent Roger Berkeley said that he found the market particularly price sensitive in 2018.
“Once the price goes over €400,000, bidding slows down,” he says. “Buyers have a ceiling that they can’t go beyond, thanks to the Central Bank’s lending rules. The higher the price, the slower it goes.”
But not all homes rose in value. Mr Berkeley says that while most parts of Dublin 20 showed increases in property values during 2018, houses in Whitethorn and Oak Court, which he describes as ‘entry-level properties’ have stayed flat in value.
With investors not as active here, as was the case right across the capital, the price of one-bedroom apartments did not increase at all during 2018, while the price of two-bedroom apartments showed a modest increase.
Our expert in D20 is predicting an average price growth rate of 8pc for this year.
fell back in the latter part of 2018, which Browne attributes to the fact that buyers prefer to be close to amenities and public transport, particularly the LUAS. Detached properties tend to be in a country setting and further away from these. Browne notes that these properties are also less attractive to buyers because they require more maintenance — for which banks often won’t lend.
Our expert predicts an exemptions bounce in Q1 and expects values to increase by an average of 4pc over the coming year.