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BLOG – Dublin 8 and its unique neighbourhoods and potential

Blog post by Owen Reilly, November 8th 2016 

We are strong advocates for city living and we observe the growing market for city centre homes. In September we opened a branch in Portobello in Dublin 8 – not far from our Dublin Docklands office; we have observed our city-loving clients choosing from the townhouses there as an alternative to Docklands apartments, and we have observed others trading up from apartments to red-brick homes in Dublin 8, in particular in leafy Portobello and Kilmainham. Demand is strong for accommodation in the city centre and the Georgian, Georgian-style, Victorian and twentieth century houses in Dublin 8 are highly sought after.

Historic neighbourhoods adjacent to the city centre are a winning combination

The Dublin 8 postcode straddles the River Liffey – it encompasses the Phoenix Park to the north and, on the southside, it runs west from Christ Church Cathedral as far as Kilmainham, bounded to the north by the river and to the south by the Grand Canal. It is an ancient and historic part of Dublin that comprises unique city neighbourhoods, and is the location for some of Ireland’s most-visited tourist sites including St Patrick’s and Christ Church Cathedrals, the Guinness Brewery, the Royal Hospital at Kilmainham, Kilmainham Gaol and the Phoenix Park. While, without doubt, Dublin 8 includes pockets that have been under-developed, overwhelmingly, the neighbourhoods of this postcode have great appeal. Portobello and Blackpitts offer the restaurants and independent shops beloved of young professionals and people interested in city living. It is a short walk from The Liberties to Trinity College and Grafton Street, while Inchicore and Kilmainham are within walking distance of the Memorial Gardens at Islandbridge and the Phoenix Park with direct transport to the city centre via the Luas Red Line tram.

There is fashionable and pricey Portobello – and then there is value to be had

In the beginning of October property website Daft.ie reported a quarterly increase of 3% in asking prices in Dublin city centre – reflective of low availability and the overall recovery in prices – and the ever increasing desirability of city living. Dublin 8’s prime market is fashionable Portobello with three and four-bedroom red-brick homes on Heytesbury Street, Lennox Street and Carlisle Street selling for upward of €750,000. (The most expensive home on the market currently is 40 Bloomfield Avenue, on the market at €995,000). At the other end of the market, artisan cottages are for sale for under €200,000 in The Coombe, The Liberties, Inchicore and Rialto. In between, there are more elaborate cottages and small twentieth century houses, with off-street parking and gardens, in The Liberties, Inchicore, Rialto and Dophin’s Barn. (Pictured is 77 Augustine Street in The Liberties – an interesting two-bedroom townhouse agreed recently by this firm over the asking price of €360,000).

We would contend that there are parts of Dublin 8 where there is excellent value to be had. Given the proximity to the city centre and planned developments that include the national children’s hospital at St James’s Hospital and major student residential complexes, we anticipate growing interest throughout the postcode. What we see in the area is the potential for strong price growth – just as in Docklands.

Blog post by Owen Reilly, November 8th 2016