In 2023, the residential market performed very strongly in Dublin 6 underpinned by low stock, especially for houses in turn-key condition. Our average selling prices were 5.5% over asking prices. It was not unusual for us to see open viewing figures on launch weekends with 30 to 40 parties attending for houses and 20 plus for one bed apartments.
One notable trend was the number of mature house hunters living in larger properties in the locality seeking to trade down but not being able to get into a buying position as they need to sell and are unwilling to do so. With new players entering the bridging market, this may help to push for a better supply of larger family homes.
Another limiting factor for downsizers, who ideally seek either a small house or a large apartment that is A-rated, is that there are no new developments planned in the locality and those that are planned are smaller unit sizes that are being delivered for PRS schemes which can get high density due to being within the planning zone to public transport.
A lot of the housing stock in Dublin 6 is older period homes. Some refurbished period homes with B BER ratings achieved exceptional premiums over asking prices, where those with ratings at D and lower achieved figures reflecting the level of upgrade required. Off-street parking is a luxury in Dublin 6 as the majority of Dublin 6 area is zoned ‘Residential Conservation’, so it is not possible to get off-street parking on the traditional red brick residential roads. Hence, we saw strong figures being achieved with the 1930’s / 1940’s housing stock where off-street parking was provided, as it was one of the desired requirements for buyers to have an EV charging point.