Redbricks still rule the market

LOTS OF indicators say there’s a continuing slump in the property market – but there are exceptions to every rule

LOTS OF indicators say there’s a continuing slump in the property market – but there are exceptions to every rule. And “desirable” Victorian redbricks with good rear gardens in Dublin 4 and 6 are showing regular sales, according to estate agents.

Take two houses side by side on Killeen Road in Ranelagh, D6, which Douglas Newman Good (DNG)put up for sale last October: both renovated, extended three-beds with a price tag of €895,000, they were both sale agreed within two weeks.

Viewings for both were like old times, with crowds elbowing each other aside to get a good look; three bidders chased number 27. Both sales have now been completed and keys handed over – one just before Christmas, one just last week. They both made less than the asking price but “close to it” according to the agent. (The agent can’t, of course, reveal the exact sale price, because of data protection legislation, a situation which continues despite pleas from both agents and the media.)

Both the Killeen Road houses were modest versions of the classic redbricks built from about 1890 to 1910. Both had been given the full modern makeover while retaining original period details.

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Many D6 homes benefited from considerable spending during the good times: kitchens boasting central islands, stone worktops and underfloor heating, lavish conservatories – triumph of optimism over climate in the Irish seasons – and plenty of en suite bedrooms turned solid Victorians into the kind of ready-to-occupy residence that is attracting interest from cash buyers.

But interestingly, the properties being chased are either of the above gold standard – or have had nothing done with them in 40 years.

Even homes “in need of complete modernisation” (agent-speak for a scullery with a cold water tap in kitchen, peeling wallpaper, etc) are attracting the money.

Victoriana reigns once again, it would appear.