Despite a general slowdown in the Dublin second-hand house market, record prices were paid for prime property in several Dublin suburbs this year. While in 1999 the top price paid for a Dublin house was £2.75 million, this year it was £8 million. In fact the least expensive house on our list of 15 cost £2.75 million. While the market was fuelled by high-income earners seeking trophy homes, the most expensive house was bought by the British Government to house the new British embassy residence. In April, it paid £8 million for Marlay Grange, a 10-bedroom Victorian house on 12 acres in Rathfarnham. Businessman Denis O'Brien is believed to have paid close to £7 million for his trophy home, a large detached Victorian house, complete with coachhouse, on Raglan Road. He bought it last February from former restaurateur Peter White in a private deal.
On Ailesbury Road, another private deal saw builder Bernard McNamara pay over £4 million for a semi-detached house at number 24. It adjoins his own house, the former Japanese embassy, which he demolished to build a far larger house in its place. He bought number 24, annexed some of the garden, then sold it on again, to one of the Smurfit family.
Property developer Garret Kelleher made the headlines in April when he paid £5.3 million at auction for a seven-bedroom detached house at 32 Herbert Park. In July, the home of former Supreme Court judge Hugh O'Flaherty and his wife Kay, number 24 Herbert Park, was sold by joint agents Lisney and Billy O'Sullivan for just over £2.8 million. The semi-detached house was bought by London-based businessman John Mullen, who owns the Thomas Pink chain of shirt shops.
Three superb seaside homes changed hands this year. The first of these, Inniscorrig on Coliemore Road, was sold after auction by Sherry FitzGerald for around £4.5 million. It was bought by businessman and property developer Michael Kelly. Two months later the house next door, Elsinore, sold at a Lisney auction for £5.1 million. Sherry FitzGerald also sold Seagrange, a large villa-style house on Sandycove Avenue East for around £3.5 million after auction.
Solid redbrick houses close to the city centre showed a big increase in value this year. Number 30 Leeson Park, a detached house in office use with a mews, sold for £3.3 million. It was bought by Douglas Newman Good, which intends to use it as a company headquarters.
In Ballsbridge, a large semidetached house at 18 Elgin Road also fetched £3.3 million at auction. The house needed complete refurbishment but has a double coach-house to the rear.
Finally, former minister Gemma Hussey was one of the winners of the autumn selling season. While many of the more expensive homes were withdrawn from auction in September/October, she sold her large detached house, Rostellan, on Temple Road, for £3.5 million after auction.
