19 Jun 2017
We’ve never been to a local resident’s meeting in Dalkey – but we can only imagine it would resemble a ‘who’s who’ of Irish rock stars, movie directors and celebrities.
And when the likes of Van Morrison, The Edge, Neil Jordan and Pat Kenny are your potential neighbours, you can assume that properties are going to be a little bit pricey.*
Ireland’s “most expensive residential property” is located here, with Number 1 Soretto Terrace selling last year for a cool €10.5million. That’s a lot of money, but it’s not just the address that attracts people.
Former resident George Bernard Shaw had no problem articulating why Dalkey was such a special place to live. “I lived on a hilltop with the most beautiful view in the world - I had only to open my eyes to see such pictures as no painter could make for me,” said Shaw, who lived in Torca Cottage on Dalkey Hill with his family.*
So do you need to have a platinum album, an Oscar or your own talk show before you think about house hunting in the area? Or can mere mortals live the Dalkey dream and pick up their own place on this highly sought-after coastal location?
Dalkey is one of the most sought after places in Dublin for buyers who can afford properties in the higher price range. A quick look at Daft.ie shows that asking prices range from €395,000 for a detached 2-bed artisan cottage to €10.5million for a detached house on Colliemore Road.
“The houses that are being sold in Dalkey are at the higher end of the market, from €500,000 upwards,” says Marc Fleming, Assistant Manager of EBS Dalkey. “We would deal with people trading up but there are also people from a high net worth area getting parental gifts towards the process. We’d see gifts of everything from €100,000 to €200,000 being given to people. It would be parents giving their kids what would have been their inheritance to allow them to get on the ladder.”
Supply can be an issue in Dalkey but some parents with land around their home are also giving their children sites to build a house on. Obviously, this approach only works if planning permission can be acquired.
Second time buyers looking to buy in Dalkey village tend to be people in the higher earning bracket. “We deal with professional people like pilots, solicitors, or that type of earner,” says Marc. “They would need to be on very good money to get the mortgage they require.”
It can be difficult for first time buyers to buy in the area, although EBS Dalkey have helped people to buy their first home inside and outside the area. “We’ve had first time buyers who have bought apartments towards Sallynoggin and Walkinstown for between €225,000 and €250,000,” says Marc. “We would also see people looking in around Cherrywood and areas like that.”
Apartments are sometimes a good option for first time buyers looking to get on the ladder in expensive locations. However, there are not a lot of apartments available in Dalkey and most remain pretty expensive. “You’re paying for the address,” says Marc. “It’s a restriction as well as an attraction.”
Maeve Binchey used to live in the village, and she famously said, “If you couldn’t be happy in Dalkey then you’d be a pretty difficult person; impossible to please on any level.”*
We would tend to agree with Maeve. It’s a charming village with panoramic views of Dublin Bay, a friendly atmosphere and lovely coastal walks on your doorstep. It’s also full of excellent restaurants, bars and cafés.
The village’s medieval stylings make it a popular tourist spot, with Dalkey Hill and Killiney Hill offering scenic walks for visitors. The disused Dalkey Quarry is now a popular rock climbing location and you can also enjoy local swimming spots like The Vico and Whiterock Beach.
The village is on the commuter belt and it’s well served by the DART, which gets you into the city centre in 25 mins. The M50 is easily accessed and there are also bus services to and from the village. It remains a family-friendly location, with a number of local schools and plenty of sports activities to choose from. What’s not to love?
You don’t have to be in U2 to afford a house in Dalkey, but EBS can tell you whether it’s a realistic ambition.* Call in for a chat and you might be pleasantly surprised.
If you'd like to talk through your mortgage options, book a 30 Minute Mortgage Meeting with Marc or one of the team in EBS Dalkey. Why not try our mortgage calculator to find out how much you may be able to borrow?
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McVerry Financial Services Limited trading as EBS Dalkey 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.
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.
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.
*If we mention celebrities, we're not saying they love us. They secretly might, but it doesn't mean they endorse us.
House Prices taken from Daft.ie accessed May 2016.