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[Article] Postcode pecking order for Dublin's property prices

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  • 20-07-2003 8:11pm
    #1
    Victor
    Registered Users Posts: 78,387 ✭✭✭✭


    Roll on 4-digit postcodes. :rolleyes:
    Postcode pecking order for Dublin's property prices
    From:The Irish Independent
    Sunday, 20th July, 2003
    JOHN O'KEEFFE

    A HOUSE in Dublin with the "wrong" postcode can be worth as much as €200,000 less than a similar house just a mile away.

    A new survey by Gunne Auctioneers has shown that numeric snobbery is alive and well in the capital.

    The figures show that your postcode is one of the key factors determining the value of your home.

    Unsurprisingly, Dublin 4 in the heart of the embassy belt remains the postcode with the most cachet.

    That's reflected in an astonishing average house price in 2003 of €785,250 to be exact. Dublin 18, comprised of suburbs such as Foxrock and Sandyford, comes second in the postcode pecking order at €618,154.

    The best-value houses to be found in any Dublin postcode, however, are in Dublin 10, which includes Ballyfermot. The average house price in this region is €205,000. In Dublin terms, that is an absolute bargain, given the area's proximity to the city.

    Home buyers might like to think about the fact that they can buy four houses in Ballyfermot for the price of one in Donnybrook. Statistics also show that when it comes to house prices, if you have an even postcode in Dublin the chances are your house is worth more than if you have an uneven one.Also, purchasers are clearly being priced out of the postcode area altogether and forced into the unfamiliar surrounds of north and south County Dublin and beyond.

    Among the regions just outside the postal code zone, south County Dublin remains the most expensive place to buy a house, followed by north County Dublin at a third less and west County Dublin at under half the price of the southern outskirts.

    Meanwhile those not yet on the housing ladder will be heartened by the latest forecasts that buying a house will be an easier goal to achieve in the next few years.

    The ESRI's latest economic review says nominal growth in personal disposable income, coupled with a more moderate increase in house prices will make property more affordable beyond 2005.

    The review says the housing market has continued to perform well, boosted by declines in interest rates. But nearly 49,000 new houses will be needed each year for the next three years to meet the demand created by an increasing population.


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