Dublin 12: House prices surge as buyers seek relative value in Crumlin

Dublin 12 property prices are up roughly 8pc year on year. It was a year in which some types slipped but most surged in value.

Two-bed former corporation houses in the vicinity of Lower Crumlin now go for an average of €340,000, €30,000 more than they were fetching a year ago, says Jillian McGuirk of McGuirk Beggan.

This is based on their relative affordability in what is considered a central location.

Premium examples are achieving substantially more than that, for example 30 Bangor Road — an extended and refurbished two-bed — sold for €472,000 in November. In contrast, three-bed bungalows and four-bed semis dropped in value somewhat.

Mature post-war three-bed terrace houses in the postcode are currently worth in the region of €399,000 depending on condition and location.

At the upper end, 55 Beechfield Road in Walkinstown sold for €520,000, while a four-bed semi at Priory Walk off Whitehall Road at the Terenure end of D12 changed hands for €720,000.

New homes are just not in the picture in Dublin 12. With most development in the postcode currently in the build-to-rent category, that may ease pressure on the rental sector, but will do nothing for competition among owner-occupiers for second-hand stock, which can only intensify.

Good rentals are both rare and expensive in Dublin 12. A three-bed former corporation house in Drimnagh goes for €2,500 per month, while two-bed apartments in the postcode are now renting for €2,300.

Jillian McGuirk estimates there could be similar levels of inflation this year if current conditions persist.

Property Hotspot: Crumlin Road, north of the village

Dunnes Stores plans for a futuristic revamp of Crumlin Shopping centre are among the plans for the area that could considerably boost demand here

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