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Donnybrook,
Sandymount, Ringsend, Irishtown, Ballsbridge - Prices Down 10% in
2010
The first six months of 2010 were surprisingly strong in D4 . Estate agents
believe this was due to a perception that the market had reached its bottom.
In the second half of the year, however, buyers realised that the market
had further to fall and lenders reneged on some promises to potential
buyers. 2010 saw about 99% of sales in Dublin 4 being made by owner-occupiers,
with three- and four-bedroom houses in the €650,000-€700,000 price bracket
the most sought-after properties. The rental market in this neighbourhood
is holding strong and will continue to do so as a rising number of people
who want to live in the area hold off making a purchase and seek to rent
here.
D3 - Fairview, East Wall, North Strand, Clontarf, Ballybough, Clonliffe,
Drumcondra
2010 House Prices Down 11%
Last year again saw double-figure price drops in Dublin 3 as potential
buyers continued to worry about job security and negative equity. Houses
in good locations, such as Fairview and Marino, sold quickly and fetched
good prices in comparison with apartments, which fell substanitally in
the past 12 months. Second-hand two-bedroom terraced houses dropped by
just 10%. According to our estate agent, the market here has bottomed
out and prices will remain static this year. There were few investors
making purchases in Dublin last year and this is unlikely to change while
rents remain unstable. They fell steadily for the first nine months of
2010 and then stabilised. Houses with realistic price tags in Clontarf
sold well last year, particularly those with south- or west-facing gardens.
Against those in neighbouring environs, properties in Clontarf have traditionally
commanded far higher prices, particularly on leafy roads such as Seafield
Road and Castle Avenue. For example, a former corporation three-bedroom
house is selling for, on average, €230,000 in most areas of Dublin 3;
this type of home in Clontarf is fetching €340,000. Second-hand one-bedroom
apartments are selling for €270,000 in Clontarf, compared with €170,000
elsewhere in the postal code.
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