Sales prices reflect demand pressure in parts of Dublin
Reports of very strong selling prices reflect the pent-up demand for properties in pockets of Dublin. Certainly a few recent auction results have come in well above the AMV. Lisney, who have been leading the charge at auction, made two big sales in July when they sold 56 Ailesbury Road (pictured) under the hammer for €2.4 million, well ahead of its AMV of €1.6 million. On the same day it sold 5 Leeson Park for €2.35m, which came on with an AMV of €1.7m.
On Tuesday Daphne Kaye auctioned Derriana, a four-bed Georgian near Stepaside, for €1.01 million. Six bidders chased the price up from the opening AMV of €825,000. While two weeks ago Robert Ganly of Ganly Walters saw six bidders vie for Harlech Crescent in Goatstown (AMV €500,000) until the hammer came down at €740,000.
On the private treaty side, deals are turning around quickly too. 25 Mountpleasant Avenue went on the market through Hunters last month asking €825,000, and it’s understood to have gone sale agreed within days for €1.1 million. Meanwhile Victorian property, St Michaels on Park Avenue, on sale through Savills with a heady asking price of €3.175 million is believed to have just sold for €3.1 million.
Some agents have said the activity is almost too frenetic, and very much a symptom of the limited stock available, while others have reported a marked fall-off in buyer interest in recent weeks perhaps as they decide to wait and see what the Budget brings.