A DETAILED study of the Dublin property market has found that Dublin 15 had the highest number of sales in the first six months of 2017.
The greater Blanchardstown area had 751 sales totalling over €246 million making it the biggest postal district in the capital in terms of both number of transactions and total sales value.
According to the research, which was carried out by MyHome.ie based on an analysis of the Property Price Register, there were 7,461 sales across the capital in the first half of the year, an increase of 11 per cent on the 6,714 recorded for the same period last year.
Dublin 15 recorded significantly higher figures than other Northside areas in the survey, with only Southside districts coming close.
In Dublin 18 there were 387 transactions and 366 in Dublin 8 while Dublin 4’s total sales value was €238.6 million.
Managing Director of MyHome.ie, Angela Keegan, said that while the increase in the number of sales was positive, the continuing sprawl of the city up to and beyond the M50 was a concern.
“There are 14 new developments in Dublin 15 and clearly these are proving attractive to first time buyers,” she continued.
“Builders are now building in staggered phases so the supply is coming through more slowly.
“The pent-up demand, caused by the lack of supply and shortening sale agreed times ensure any new properties coming on the market are absorbed very quickly.”
“One of the key issues for people buying properties on the outskirts of the city is the commute to work.
“While first time buyers are increasingly desperate to buy their own homes, commuting times are increasing at an alarming rate as the city spreads beyond the M50 and this will be a huge issue for Dubliners in the years ahead.
“But clearly it should be a major concern for our planners right now.”
Postal districts that showed a significant increase in activity compared to this time last year included Dublin 13, up 35 per cent and Dublin 17, up 25 per cent.
Activity in these areas was concentrated around Baldoyle and Balgriffin (D13) and Coolock (D9).
Meanwhile in north county Dublin there were 240 sales in Swords and 129 in Malahide.
In Dublin 9 there were 278 transactions worth €95,670,144, in Dublin 11 there were 238 worth €52,394,385 while the figures for Dublin 1 were 215 and €59,794,791.
In Dublin 7 there was 288 transactions worth €84,024,678.
The lowest average prices were found in Dublin 10 €153K, Dublin 17 €180K, and Dublin 11 €220K. However, these figures are raw averages and not mix adjusted, so are indicative only.