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10 minutes from the city – why Phibsboro is a great option for First Time Buyers

Phibsboro Blessington

01 Mar 2017

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Located a mile from the city centre, Phibsboro has been popular with renters and home-owners for well over a century.

The area's housing stock mainly comprises red-brick homes built near the turn of the last century. It was an era when house prices were historically at a high and build-quality arguably at a peak.

It was also an era when James Joyce lived locally at 7 St. Peters Road, which no doubt inspired him to set much of Ulysses in the area, where leading characters Leopold and Molly Bloom share a house. The area has had its ups and downs since Leopold tucked into his favourite dish of mutton kidneys on Eccles Street. But with major plans for regeneration now afoot, it might be worth a punt for young buyers who have missed the boat elsewhere in the city.

Neighbouring Grangegorman is in the midst of a €½billion renewal plan that includes building one of the biggest colleges in the country. And a new Dublin City Council development plan for Phibsboro is currently on the drawing board.

"We've had a few mortgages applications from academics buying here that we wouldn't have had for awhile. It could be an up-and-coming area if all this development takes off," says Michael MacClancy, manager of the Phibsboro EBS branch.

 

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What's best for?

First time buyers

Of 33 homes for sale on Myhome.ie, mostly of three beds or more, the average price was €330,000. However, this range included several large family homes, which bumped up the average. There were also several within a reasonable price range for First Time Buyers. A 1-bed apartment in Broadstone had the best value price tag of the lot. Two very good value offers was a redbrick one-bed house on Valentia Parade and another on Blessington Lane, both for less than €200,000.

Families

Because of its proximity to town, Phibsboro underwent a transformation, just like Rathmines. Large family homes were broken up into bedsits and apartments and rented out to city centre workers and students at nearby colleges.

"As a result, the area became a bit less "family-friendly" although it does still have a village "feel"," says Michael.

More recently, we've seen the beginning of a reversal of the process, driven by a shortage of homes close to the city. Many fine old Victorian homes that were converted into bedsits are being sold as family homes in need of a make-over. One we saw on Enniskerry Road had a price tag of €340,000, yet comprised 5,000 square feet.

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"There are also ready-to-go family homes generally at the higher end of price range," Michael confirms. A six-bed redbrick period home on Charleville Road measuring nearly 2,000 sq. ft. was priced at €725,000, which isn't far off Rathmines' levels.

"The Cabra Road is also sought after as the traditional redbrick homes in places like Munster Street and Connaught Street," says Michael. There is also a nice enclave of redbrick homes around Geraldine Street with their own lake and park close by.

"Some of those old streets are terrific. It's real old-style Dublin city," he notes. St Peter's church, a proud structure from the 19th century, is no exception to the old Dublin character of Phibsboro.

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There is a shortage of secondary schools in Phibsboro, although there are several in adjacent Cabra. There are a small number of primary schools, but, again, a multitude of them down the road in Cabra.

Commuters

Lots of buses pass through Phibsboro en route to the city centre. But if do you miss one, it's hardly a disaster; you can always walk into town in ten minutes. Phibsboro is also earmarked as a stop on the planned new Luas Cross City line.

Before you go house hunting it's a good idea to get your mortgage arranged – or at least discussed so you know where you stand.

Get the ball rolling with our First Time Buyer and Next Time Buyer guides. You can also use our mortgage calculator to find out how much you may be able to borrow.

And if you'd like to talk through your mortgage options book a 30 Minute Mortgage Meeting with Michael or one of the team in local EBS office, Unit 9, Phibsboro Shopping Centre, Dublin 7 (Tel: 01 8306087).

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Why not pay us a visit on our Facebook page for more great house-hunting tips, home living advice, or just for some general merriment?

The content of this blog is expressed in broad terms and is limited to general information purposes only. Readers should always seek professional advice to address issues arising in specific contexts and not seek to rely on the information in this blog which does not constitute any form of advice or recommendation by EBS d.a.c.

Michael MacClancy Financial Services Limited is a tied mortgage agent acting solely on behalf of EBS d.a.c. EBS d.a.c. is regulated by the Central Bank of Ireland.

EBS d.a.c. neither accepts nor assumes any responsibility in relation to the contents of this blog and excludes all warranties, undertakings and representations (either express or implied) to the fullest extent permitted under applicable law.

House Prices taken from MyHome.ie accessed March 2015.

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