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COUNCIL PROPERTIES - Slowdown sees Dublin Council return to market
June Edwards



THE recent slowdown in the property market may mean first-time buyers are slow to purchase, but at least one group are more active. After a long absence from the property market, Dublin City Council is starting to buy back some of the ex-Corporation houses for local authority tenants. Most of their housing stock, built mainly between the 1920s and 1970s, has been sold off to tenants during the last few decades.

Berkeley Estate Agents in Palmerstown say they have noticed Dublin City Council getting more active recently around Ballyfermot, particularly at the lower end of the market. Gunne and Mason estate agents in Phibsborough have also seen more inquiries from Dublin City Council about homes in the Cabra area.

During the last few years of the boom, ex-Corporation houses in areas like Cabra, Finglas, Ballyfermot, Donneycarney, Crumlin and Drimnagh often fetched as much as 490,000 for a twobed, proving too strong a price for Dublin City Council, but with two- and three-bed homes in need of refurbishment now coming on the market as low as 330,000, it's feasible for the council to consider buying these properties, which are generally in very central locations close to shops, schools and local transport, and therefore ideal for young families.

"Yes we are definitely getting back into that market, " says Paul Finan, spokesperson for Dublin City Council.

"But what we are not doing is getting involved in bidding. We send a valuer out to a property, and make what we consider to be a fair offer, but if the vendor says no, we don't up the offer. We just walk away.

"We would have an upper price limit of 450,000 but we would rarely spend that much, and in fact would tend more towards the lower end of the market, where houses are in need of complete refurbishment, as we would have to remodel them to Dublin City Council standards anyway, " says Finan.

One buyer who recently sold an exCorporation house in Finglas said Dublin City Council had completely gutted their home, despite the fact that it was in good condition, had central heating, electric showers etc, because they must be able to stand over the refurbishment work.

Dublin City Council has a policy, however, of not buying too many homes in any one street, usually not more than four, and never next door to each other. They are not obliged to inform neighbours on either side of the property they purchase, and say they don't usually have any objections raised.

While they usually source their own properties via estate agents, vendors can approach Dublin City Council if they are interested in selling, although unless the property is in poor condition, chances are you will get a better price on the open market.

The largest social landlord in the Republic, Dublin City Council currently accommodates 25% of the 100,000-plus local-authority households in the country. The very first record of social housing in Ireland dates back to the 1866 Labouring Classes Lodging Houses and Dwellings Act, provided mostly by voluntary and charitable bodies, although between 1922 and the 1990s, Dublin City Council built around 330,000 localauthority homes.

TWO TO VIEW: EX-CORPORATION HOUSES UNDER /400,000

NO 12 BALLYGALL PARADE, FINGLAS EAST, DUBLIN 11
Price: 362,000
Agent: Mason Estates Finglas 01-864 4111
The details: This end of terrace, ex-corporation three-bed within walking distance of Finglas village, has been given a thoroughly modern makeover by its current owners . . . fab new kitchen, gorgeously dark wooden flooring downstairs, built-in wardrobes in bedroom and Frenchstyle fireplace in living room. The property further benefits from a large front garden with off-street parking and side garage

NO 107 ST ATTRACTA ROAD, CABRA, DUBLIN 7
Price: 335,000
Agent: Mason Estates Phibsborough 01-830 4000
The details: While in need of refurbishment, this two-bed, end of terrace ex-corporation house has potential, not least because of its close location to Phibsborough. There is a front and rear garden and its rooms are just waiting to be given a modern new look. At 62sq m (667sq ft) it's a bit of a tight squeeze but accommodation includes an entrance hall, living room, kitchen, downstairs WC and two bedrooms upstairs.




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