Report reveals the most expensive areas in Dublin to buy property

Dublin 15 was the postal district with the largest number of sales

Report reveals the most expensive areas in Dublin to buy property

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A study of the Dublin property market shows the number of transactions rose in all but four of Dublin's 22 postal code districts in the first six months of the year.

The research, carried out by MyHome.ie based on an analysis of the Property Price Register, shows there were 7,461 sales in the first half of 2017.

This is an increase of 11% on the 6,714 recorded for the same period last year.

The most expensive house sale in the first half of the year was for €8.45m on Shrewsbury Road, while almost 300 houses were sold for €1m or more in first six months.

The highest price paid, €8.45m, was spent on 11 Shrewsbury Road in Dublin 4.

The postal code with the highest average price was also Dublin 4, with an average price of €890,000.

It was followed by Dublin 6 on €740,000, Dublin 14 on €558,000, Dublin 6W on €529,000 and Dublin 18 on €510,000.

The lowest average prices were found in Dublin 10 on €153,000, Dublin 17 at €180,000, and Dublin 11 on €220,000.

Highest number of sales

Dublin 15 was again the postal district with the largest number of sales - 751 - followed by Dublin 18 on 387 and Dublin 8 with 366 sales.

Dublin 18 - which has 17 new developments in areas like Stepaside, Carrickmines and Sandyford - recorded the second highest number of sales while there were 400 sales in neighbouring Dun Laoghaire.

Other postal districts which showed a significant increase in activity compared to this time last year included Dublin 13, up 35%, Dublin 22 up 31% and Dublin 17 up 25%.

It says activity in these areas was concentrated around Baldoyle and Balgriffin, Clondalkin and Rowlagh Village and Coolock and Santry.

Meanwhile in north county Dublin there were 240 sales in Swords and 129 in Malahide.

In Dublin 8, 34%, of activity centred on Inchicore and the South Circular Road - where there were 84 sales.

While 21 apartments at The Ice Rink in Dolphins Barn were also sold, as were 13 in St Catherine's Church on Bridgefoot Street.

Dublin 14 saw the number of sales increase by 29% to 268 mainly in Rathfarnham, Churchtown, Dundrum and Clonskeagh. Six apartments in Clonskeagh were listed as selling for over €2m each.

Sales in Dublin 5 increased by 25%, with Raheny and Artane among the most popular areas.

M50 sprawl

Angela Keegan, managing director of MyHome.ie, said that while the increase in the number of sales was positive the continuing sprawl of the city up to and beyond the M50 was a concern.

"There are 14 new developments in Dublin 15 and clearly these are proving attractive to first time buyers. Builders are now building in staggered phases so the supply is coming through more slowly.

"The pent-up demand, caused by the lack of supply and shortening sale agreed times ensure any new properties coming on the market are absorbed very quickly.

"One of the key issues for people buying properties on the outskirts of the city is the commute to work.

"While first time buyers are increasingly desperate to buy their own homes, commuting times are increasing at an alarming rate as the city spreads beyond the M50 and this will be a huge issue for Dubliners in the years ahead.

"But clearly it should be a major concern for our planners right now", Ms Keegan added.