With the steady rise of Dublin house prices over the previous 12 month period exacerbated by a shortage of available properties, is it still possible to “buy well” in Dublin in 2018?
CITY CENTER DUBLIN HOUSE PRICES
The property market in Dublin today is driven by demand and under-supply. While the demand for close to city-centre properties continues to rise, the city simply does not have the space to develop further housing in certain areas. This has made the housing market in the area surrounding the city very competitive increasing prices drastically this year.
I predict that in such areas – areas 2, 4, 6, and 8 on the south-side and 1, 3, and 7 on the north-side of the capital – houses will continue to increase in value. There will therefore be an increase in Dublin house prices in areas including Ranelagh, Rathmines, Crumlin, and Drimnagh in 2018.
OTHER DUBLIN HOUSE PRICES
Outside of the central Dublin city areas, I expect a softening in prices of certain properties.
Places such as Lucan, and others around the M50, have the space to develop new housing, unlike areas closer to the city centre. Therefore, where there are new developments being built, prices for older properties should see a slight decrease.
UP AND COMING AREAS IN DUBLIN
Buying property in an up and coming area of Dublin can be a great investment. The trick is to buy at the right time, and to know which areas have the potential to increase in value in the near future. These investments can be great as they are a potential money box in the future.
Be on the lookout for
- Places in which neighboring areas are beginning to thrive
- Areas in which people are renovating their housing, improving them.
- Areas in which new café’s, recreational spots, sport centre’s etc.
- New Transport links
For 2018, places such as the edge of Drimnagh, the edge of Dublin 3, and around the Naas Road are quite possibly up and coming areas, and areas of good value. If you can get in slightly ahead of that curve, there is still a lot of potential to buy well in Dublin for 2018.