Goodbye, open plan, hello, panic rooms: your guide to the post-pandemic property market with views from Owen Reilly
What will the new normal for property look like? Country living, super basements and the end of open plan, say the experts
Q1 2020 Residential Market Review
ur Q1 2020 Residential Market Review showed a promising start to the year prior to the Covid-19 crisis. Selling prices were on average 2% above asking at €437,435. Owner-occupiers accounted for 70% of buyers building on the second half of last year. 65% of our vendors were landlords exiting the market, so the amount of rental accommodation continues to deplete. 65% of our buyers are Irish and the number of Asian buyers continued to increase at 17% up from 13% in Q4 2019. Since the start of the crisis, 30% of our sales have fallen through and the number of new listings is down 82% compared with the same period last year.
Our average rental is now €2,456 per month, up 1.4% compared with Q4 2019. This quarter we saw a significant increase in tenants from America and India. Only 18% of our tenants across Dublin are Irish. 66% of our tenants are working in the technology sector.
Covid-19 has effectively frozen the residential property market and the Irish economy. It is too early to estimate what the overall impact will be on the economy and in turn the property market. Time will tell!
Coronavirus effect prompts five-year high of homes for rent in central Dublin
he rapid spread of coronavirus has prompted a flight from the Airbnb model of short-term rentals to longer term rental in key Dublin areas.
According to the latest listings from property rental website Daft.ie, the number of available one- and two-bed properties in Dublin 1, 2, 7 and 8 jumped to a five-year high of 535 on Tuesday evening.
4 of a kind… Dublin 6
First-time buyers on the hunt for a property needing work might be interested in 19 Collier’s Avenue in Ranelagh, which with a bit of imagination and hard work could be a lovely bijou home for a single person or couple located in one of the most desirable parts of the sought-after postcode.
Make a move to Milltown and take a view from the bridge
The Irish Times well-informative article on a guide to Milltown, a well-connected neighbourhood of upmarket homes. What’s good and what’s not so good.
The smart way to sell a rented property featuring Owen Reilly
Selling with tenants in situ can be problematic but there are ways to keep everyone happy. Our article on the smart way to sell a rented property featured in the Irish Times.
4 of a kind… Downsizer apartments
28 The Warehouse, Clanbrassil Terrace in Blackpitts, Dublin 8, a smart one-bedroom apartment loft-style apartment with 117sqm of living space.
Portobello Residential Report 2020
Some of the more interesting data from 2019 for this sector include: Average asking price was €615,382. Average price per sq. ft. was €547, up 3% on 2018. Different tiers of the market are performing very differently with average selling versus asking price up 1.4%. Selling times were longer and we are increasingly dealing with…
A loft-style apartment or spectacular penthouse apartment
We love an American-style loft, so why aren’t there more of them? Since 1999 people have been falling over themselves to buy or rent a home in the old Crowe and Wilson clothing factory at Clanbrassil Terrace in Dublin 8’s Blackpitts district..