Liberties makes great leap forward

Tipped as the next up-and-coming city neighbourhood of the Dublin property market, the Liberties/ Coombe area of Dublin 8 is shaking off an image problem and going digital.

Wooden blinds are replacing net curtains, flower boxes are appearing on window sills and skips are arriving daily as young professionals chasing the convenience of city living snap up the artisan dwellings and redbrick terraced homes in the maze of streets and squares that characterise the area.

Shortly to be marketed as The Digital Hub, the arrival of MediaLabEurope to the former Guinness Hop Store has sparked a new push by the Government and Dublin Corporation to establish this neglected part of the city as the centre of an International Digital Enterprise area.

Stretching from Thomas Street/James Street south to Cork Street, this hub is earmarked to be transformed over the next decade. Trendy bars and cafes are already appearing, mainly along Thomas Street. Everyone's talking big, and many young people have decided that now is the time to buy homes in the area before prices start to soar.

"You can still get into this area, and those with foresight can buy good value properties and have faith that the area will take off over the next few years," says an optimistic Barbara Bradshaw of Douglas Newman Good. "The turnaround of houses here is quite rapid. I had three properties on the books last week but they're all sold now."

The redbrick terraces off the South Circular Road between Dolphin's Barn and Rialto are the areas pinpointed by Bradshaw as offering the best value to buyers. While prices were still around the £130,000 (€165,065) mark for three-bedroom houses this time last year, she points out that those prices are now hovering around £160,000 (€203,158).

"The area has gone through a series of lifts over the last few years and is very popular now due to its proximity to the city centre and its stock of reasonably priced houses," explains Peter Kenny of Gunne. Revamped one, two and three-bedroom cottages around Reginald Square and Meath Street have seen a surge in popularity.

"Once a trouble spot, the area has moved on and prices now reflect this. The one-bedroom houses offer a great alternative to apartments to those who want to live in the city centre. You have more independence with your own front door, on-street parking and you can revamp as you want," he says.

New apartment developments line the stretch between Francis Street and Meath Street, with many more planned for the newly-widened Cork Street area, according to Michael Stubbs of Dublin Corporation.

"This area is ideal for first-time buyers, as they can still get a property for under £150,000. It's just like Ringsend was five or six years ago and there's so much happening here. People like the area as there's still potential for capital appreciation," says Anna Rossi of Sherry FitzGerald.

Despite the new digital drive, the potholes on Meath Street scape remain, along with higgledy-piggledy footpaths. But subtle changes are taking place and those willing to grab the opportunity could get good value for money along with potential for capital growth.