13 Jun 2017
Mention Dundrum to anyone in Ireland and the chances are that the first thing they’ll think of is the shopping centre. Over the last decade, the town has been reinvented as an iconic shopping mecca and one of most desirable areas to live in Dublin. It’s a long way from its past as a rural village on the outskirts of Dublin city.
The transformation has been led by a couple of major developments in
recent years. The opening of the Dundrum Town Centre in 2005 has
naturally had a major impact. If retail therapy is your thing, Dundrum
offers a serious bit of therapy wrapped up in an unequalled shopping
The extension of the M50 and the arrival of the Luas made it easier than ever for shoppers to make the pilgrimage to the town. It also made it easy to get to and from the city. This makes it a natural choice for commuters who want to live in a good area with an enviable list of local amenities.
But it’s not just shops that make Dundrum such an attractive address. The town is located close to the countryside, boasts a diverse property stock in the region and is a great place to raise your family.
Property trends in Dundrum
Dundrum is a popular option for house hunters and there’s a variety of properties in the wider catchment area. Supply can be an issue due to demand but Dundrum EBS sees a diverse range of people coming in for mortgages.
“A lot of our customers are first time buyers, some are second time buyers, some are looking for top ups on their existing mortgage and some are switching mortgages,” says Colman Feeney, manager of Dundrum EBS. “They may have their mortgage with another institution and they see that EBS has a great service and competitive rates, along with our recent 2% Back in Cash offer. It does mean we’ve got a lot more inquiries about switching.”
Housing stock in Dundrum and the wider area tends to go for between €250,000 and €600,000 so there are plenty of options.
Many of the people who call into Dundrum EBS are working in the area or choose to take advantage of its easy accessibility.
“A lot of existing customers are looking at the option of upgrading homes and getting mortgage top ups,” says Colman. “A lot of the time when they have a lot of equity in their home, it’s a simple process. It means they can add an extension or make repairs.
Maybe they’ll get a top up of €40,000 or €50,000 to add value to their home. A lot of people that come in for a top up have their own savings, are well established and are not under any pressure.”
First time buyers in Dundrum
Dundrum can be hard for some first time buyers to afford but one option is to opt for an apartment in the area. Stepaside is another option for first time buyers who are prepared to move to a more rural setting, although supply can be an issue. For many, buying an apartment in Dundrum is one way to get on the ladder in a desirable area.
“They can get apartment properties in Dundrum that are going for €250,000 upwards,” says Colman. “You can get some very nice apartments and they come up to €340,000. You can also get apartments in Ballinteer for a little bit less. Ballinteer offers good value for money.”
Colman advised people to call into Dundrum EBS for a chat if they’re thinking about getting a mortgage in the next year or two. It’s the best way for house hunters to get approval in principle or, if that’s not achievable at this stage, to get advice on what they need to do to get themselves to that point.
Dundrum for families
Property in Dundrum can be expensive but there are plenty of options for family homes in and around the wider catchment area. Colman says that many families opt to live in nearby areas like Churchtown and Ballinteer. Sandyford also has three bedroom homes that can offer better value for money.
“Dundrum is quite family orientated,” says Colman. “It’s like an extended village. It doesn’t have that city centre feel but it has everything the city centre could offer. It has a nice balance of all the amenities you could get in the city centre but in a relaxed setting.
It’s close to the countryside and the city centre, and it’s so easy to get there on the Luas.”
The town has all the amenities you could want, from great places to eat to good schools and easy access to universities. UCD is just down the road but the Luas and bus services make it easy to get to any of the city’s third level institutions.
It also has a great sporting tradition, with Irish cycling legend Stephen Roche hailing from the town. Local sports clubs include everything from athletics to GAA and soccer to tennis and everything in between.
The shopping centre is a major source of employment but Dundrum is also ideal for commuters thanks to its proximity to the Luas, the range of local bus services and the road infrastructure that opens up many parts of Dublin.
With all this on offer, it’s no surprise that so many people are now shopping in Dundrum for property too. It’s a competitive market but it’s one that has no problem attracting buyers.
Thinking of buying a house in Dundrum
If you'd like to talk through your mortgage options, book a 30 Minute Mortgage Meeting with Colman or one of the team. You can use our mortgage calculator to find out how much you may be able to borrow.
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John Reynolds Finance Limited trading as EBS Dundrum 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..
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