Starting price of €670k for ‘highly sought-after’ house
A four-bedroom house in Tallaght has gone for auction at a starting price of €670,000 as its location in Ballymount was deemed “highly sought-after” in the listing.
The 134 sqm detached property in Dunmore Park features “generously sized bedrooms,” two shared bathrooms and one ensuite, a “bright” living area with an open-plan kitchen, a laundry room, an attic and a garage which the listing suggests could be converted for different uses, and plenty of outdoors space.
The house was built in 1979 and has a C2 BER rating. It’s located just outside of the M50 and a 15-minute walk from the Luas stop of Kingswood.
However, its price is well above average according to the Daft House Price Report for Q4 2024, which showed that Dublin 24 was still one of the most affordable postcodes and set the price of a five-bed detached at €585,000.
The property is gone for auction shortly after a fire-damaged mid-terrace three-bedroom house in DeSelby went for auction at a starting price of €140,000, which raised questions about the position Tallaght is ‘gaining’ on the housing market.
Recent ads and listings showed a different reality than the generally acknowledged ‘postcode’ rule, when it comes to renting too.
The property at Colbert’s Fort
In February, a four-bed, three-bath property at Colbert’s Fort on the Belgard Road was put up for rent at €4,000 per month.
Besides being “walking distance to the Luas, local shops and a wide range of amenities,” the house came unfurnished and allowed for no pets.
Earlier in December, another four-bed in Millbrook Lawns was available to let for €3,400 per month.
The house was recently refurbished and decorated and once again its location was described as “ever popular and extremely sought-after.”
A quick search online will show that room renters in Tallaght are also typically asked above-average monthly prices.
As of March 3, a twin room was advertised for €1,100 per month – €550 per bed – in Old Bawn, a double room was set at €1,000 per month in Belgard Square, followed by more options costing between €800 and €900 per month in Jobstown, Kingswood, Kilnamanagh and Firhouse.
A one-bedroom independent space with kitchen and living room, separated from the main house, was advertised for €1,800 per month in Kiltipper.
On top of the soaring prices on the free rental market came the government announcement to possibly end Rent Pressure Zones, a policy which didn’t allow landlords to rise their rent more than 2pc per year.
South Dublin County Council has been a RPZ since they were first introduced in 2016.
Back then, it was decided that a Rent Pressure Zone was an area where rents were “above the appropriate standardised average rent for that area” in the previous quarter and had increased by more than 7pc in at least four of the previous six quarters.
With the announced potential end of RPZs, this is the scenario that Tallaght renters might be forced to go back to, while the buying price gap between Tallaght and Dublin City is also being reduced.
After all, is that what an “ever popular,” “highly sought-after” location is worth?
