A report published this week suggests there will be demand for at least 35,000 homes in Dublin over the next five years, while planning permission has been granted for just 26,000. Dublin City Council (DCC) and South Dublin County Council (SDCC) are the areas with the largest shortfall, according to the report conducted by the Society of Chartered Surveyors Ireland (SCSI).
In the short term the number of small schemes coming to market is growing (though not at the rate required to meet the demand anticipated by the report) and new planning applications are on the increase.
DNG says it will shortly launch 20 new three- and four-bed houses in Beech Park in Leixlip, as well as 14 new units at Maxwell Square in Rathmines.
Three new four-bed detached houses will also come to the market in Phoenix Mews in Castleknock, while a launch of about 40 new three- and four-bed houses is also planned prior to Christmas in Elder Heath in Tallaght.
According to David Browne of Savills New Homes division: “The launch of new developments across the board has picked up but a lot of the releases aren’t huge. The builder is generally putting up the showhouse and then selling the homes and building them afterwards. This is slowing everything up but it’s probably the proper way to do it when you’re building for demand rather than for the future.”
Savills will bring the Shannon Homes-built Castlemoyne development to the market shortly, with prices ranging from €510,000 to €750,000 for the five-bed semi-detached houses.
There will also be a release of 10 to 15 new homes at College Square in Terenure in late October and a similar sized launch of three and four bed houses at Cooper’s Wood in Kinsealy in November.
Hooke and MacDonald has plans to launch two developments in the Castleknock area in the coming months - the first will be a scheme of three bedroom houses for Flynn & O’Flaherty, and the other will be four- and five- bedroom houses at Bracken Park for Cosgraves.
Sherry FitzGerald recently brought the Miller’s Glen development in Swords to the market, and according to its director of new homes, Ronan O’Driscoll, it will launch a new development of three-, four- and five-bed houses at Brookfield in Malahide early next year, as well as 126 new three- and four- bed units at Belarmine Woods in Stepaside.
Guardian Property also have a number of new developments in the pipeline with five new launches planned in Knocklyon, Kilternan, Mount Street and Baldoyle.
On the planning side, applications were put forward for 664 new residential units across six Dublin developments last week.
MKN Developments has applied for permission for 173 new houses at Ridgewood in Swords and for another 79 to be built at Sybil Hill Road in Raheny.
It will bring a further 20 properties at The Elms in Swords to the market in the coming weeks while they have also just appointed Sherry FitzGerald to market the sale of 59 new luxury apartments at Seascape in Clontarf.
The company has also just started work on a development of 11 new homes in Sutton, which is planned to launch early next year.
