Dublin property hits €2.95m, triggers 7% value surge nearby

A four-bedroom terrace on Pembroke Road in Ballsbridge sold for €2.95 million at auction on 8 July, the highest residential result recorded in Dublin this month and one that is already lifting guide prices on comparable properties within a kilometre radius.

The sale comes as clearance rates at Dublin auctions climbed to 68 per cent in the first week of July, up from 59 per cent in June, according to figures compiled by the Dublin Property Auction Group. With mortgage rates holding above 3.8 per cent and limited stock in the €1 million-plus segment, buyers are moving quickly on well-presented stock before further rate signals emerge from the European Central Bank.

The property, located two doors from the junction with Lansdowne Road and within sight of the Aviva Stadium, drew six registered bidders. Sherry FitzGerald handled the sale on behalf of a private vendor who had owned the house since 2009. Two other terraces on the same stretch of Pembroke Road are now listed at €2.75 million and €2.85 million respectively, both revised upward after the result.

Market ripple across south Dublin

Agents report that the Pembroke Road figure has already influenced pricing discussions for houses on nearby Elgin Road and Clyde Road. One four-bedroom semi-detached property on Elgin Road that had been guided at €2.1 million last month now carries a revised €2.25 million asking price ahead of its 22 July auction. The Property Registration Authority recorded 142 residential sales above €1 million in Dublin in the second quarter, the highest quarterly total since 2022.

Clearance rates at the three major auction rooms operating in the city reached 71 per cent for lots priced over €1.5 million in the same period. This compares with an overall city clearance rate of 64 per cent across all price bands.

Next steps for buyers and vendors

Valuers at Lisney advise vendors considering autumn auctions to obtain fresh appraisals within the next fortnight, citing the Pembroke Road precedent as evidence that selective stock can still exceed expectations. Prospective buyers are urged to secure mortgage approvals and complete surveys on shortlisted properties before the next round of auctions scheduled for 29 July at the RDS Simmonscourt venue.