Small period houses close to Dublin's city centre have proved an excellent investment over the last four years, with prices rising by 300 to 400 per cent in some neighbourhoods.
Terraced redbrick houses in parts of Dublins 2, 4, 6 and 8 have soared in value since the property boom began in the mid-1990s, but particularly in the last year or two as worsening traffic conditions have encouraged more people to move closer to the city, whatever the cost. A number of small period houses in inner suburbs have made particularly strong prices in recent weeks. Last week, a modest four-bedroom house at Casimir Road in Harold's Cross sold for £410,000 under the hammer. It last changed hands in 1995 for £121,500. A two-bedroom house at Lombard Street South in Dublin 8, that would have fetched less than £100,000 in 1995, was recently sold for £400,000.
These sort of prices were once associated with big family homes in the leafy outer suburbs, but now £300,000 to £400,000 will buy a nicely modernised but small house close to the city. Convenience is now a key factor with buyers, according to Frank Doonan, managing director of Gunne Residential, who says that buyers are no longer too concerned about buying as much space as they can get.
"People no longer rate this type of property in terms of price per sq. ft, the traditional measure of value," he says. "Young buyers put convenience and location as high up the list of priorities as anything else." Lisney expects strong interest in a small terraced house at 8 Shelbourne Road, Dublin 4, because of its location, within walking distance of the city centre and the IFSC. The two-storey house, located close to the junction with Bath Avenue and Haddington Road, has just over 1,100 sq. ft of living space with two or three bedrooms, depending on how the accommodation is used. There is a tiny patio garden to the rear.
Edwin Dempsey of the selling agents is quoting a guide price of £330,000-plus prior to auction on December 2nd. It last changed hands in 1995 for £111,500.
Granite steps lead up to the front door which opens into an attractive hallway painted a rich red. To the left is a sunny yellow living-room with plenty of light spilling in through a tall sash window overlooking the street. There is an elegant marble and cast-iron fireplace and the original floorboards have been waxed and polished. The second room at this level is a bedroom and it's a bright double room with a view over the patio garden to the rear. Next to it is a small bathroom. A steep staircase descends to the ground floor where there is a second bedroom, a shower room, a comfortable sitting-cum-dining-room and an 18 ft kitchen/ breakfast-room.
The kitchen is newly fitted with maple shaker-style units and a granite effect worktop. There is a sliding door to the patio garden, and a striking sitting-room at this level.
