Dublin 20: Acute shortages mean homes shoot up by 7pc – Independent.ie

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Quarryvale House in Palmerstown made €1.234m (REA McDonald)
Palmerstown
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January 21 2023 02:30 AM
Second-time purchasers make up the majority of buyers in the Palmerstown and Chapelizod areas where values plateaued towards the end of the year, after a heated first half. The prices for some house types continued to rise.
It means values are up around 7pc over this time last year. Local agent Roger Berkeley sold a house on Palmerstown Drive for almost €100,000 over the €450,000 asking price last year.
“It was phenomenal, “he says, “and there were six bidders on that.”
In Chapelizod, where there is an acute shortage of second-hand homes, houses tend to sell for well above the half a million mark.
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In Palmerstown, the Culmore Road area continues to attract buyers looking to trade up, but renovated homes will do better than others.
“Homes that need work are not as popular as fully-renovated houses as buyers try to avoid the high build costs” says Berkeley.
Still, local buyers are always eager to move into both D20 areas as they enjoy access to the M50 via junction 7, the N4, and are just four miles from the city centre.
There were a number of apartment sales in Chapelizod throughout 2022 but again new stock is severely limited.
On the rental front, work is ongoing at Palmerstown Gate, an €85m 260-apartment scheme off the N4 in Palmerstown.
The apartments, which will be a mix of one- and two-beds in five blocks, are being built to let. The first section in the scheme is due for completion this quarter.
Remains the 'holy grail' amongst some very fine roads surrounding the area, always faces stiff competition amoung buyers
Berkeley expects values to rise another 7pc this coming year, despite a global downturn. “There is a lot of money out there and confidence is up,” he says.
Select an areaCarlowCavanClareCork City CentreCork City North SuburbsCork City South SuburbsCork City West SuburbsCork County EastCork County NorthCork County WestDonegalDublin 1Dublin 10Dublin 11Dublin 12Dublin 13Dublin 14Dublin 15Dublin 16Dublin 17Dublin 18Dublin 2Dublin 20Dublin 22Dublin 24Dublin 3 (Clontarf only)Dublin 3 (exc Clontarf)Dublin 4Dublin 5Dublin 6Dublin 6WDublin 7Dublin 8Dublin 9Dublin North CountyDublin South CountyDublin WestGalway CityGalway CountyKerryKildare NorthKildare SouthKilkennyKillarneyLaoisLeitrimLimerick City CentreLimerick City SuburbsLimerick CountyLongfordLouthMayoMeathMonaghanOffalyRoscommonSligoTipperary NorthTipperary SouthWaterfordWestmeathWexfordWicklow NorthWicklow South
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