The Docklands Residential Update, July 2017

The Dublin Docklands micro-economy continues to thrive.

The new Central Bank HQ on North Wall Quay has brought 1,700 employees to the area, and significant job announcements made this year will add additional numbers to the local workforce. South Docklands has received a great filip with the announcement that investment bank JP Morgan will buy 345,000 square feet of office space at Capital Dock on Sir John Rogerson’s Quay and, with this, will bring 500 additional jobs.

Despite the now chronic shortage of housing, a mid-year report (July 2017) from estate agents Owen Reilly informs of a strong Docklands market.

Sale transactions continue to affirm Dublin Docklands as the city centre’s prime residential market; against a backdrop of low stock, the firm's transactions highlighted very fast sales in the one and two-bedroom categories, mid-year price inflation of 9.4%, an average price per square metre of €6,604 (€614 per sqft) and, notwithstanding the effect of the 2016 rent cap legislation, the firm has continued to see rent inflation in the one and two-bedroom categories. Attesting to the market potential and strong rental sector, 68% of the firm's buyers were investors. The next generation office and residential development planned last year is now in evidence throughout Docklands – most prominently on North Wall Quay and at Grand Canal Dock. Meanwhile, plans for a new urban quarter at Poolbeg in the south east of Docklands have been further advanced to provide for the fast track planning of 3,500 homes.

Please click here to view the full report.

Article Published: 31/07/2017