Is there a shortage in the market of three-bed houses in North Dublin?

June 2013

Question

My partner and I have been out bid twice over the past four months on three-bedroom houses in north Dublin. There seem to be a lot of people actively looking but not too many houses for sale. What is happening in the market?

Answer

Three-bed family homes have always been the cornerstone of the Irish residential property market and the competition that you are experiencing reflects this.

At the beginning of the year, there was a shortage of family homes for sale in Dublin but the situation has improved a good deal over the last three weeks with a selection of properties coming on the market across the city.

Buying a house is probably the biggest purchase most of us make and for many the search for the dream home can take some time.

There may also be some setbacks or disappointments along the way. What you can do is ensure that all the matters under your control are in order.

So if you are intent on buying now, there are a number of steps you can take to ensure you will be able to move quickly should a suitable property come on the market.

Start your research now with the various property portals and view all properties with potential. If you find one that is right for you, make an offer immediately. Make sure you are fully mortgage approved and ready to go and that you have a bank valuer and building surveyor on standby so that they can inspect a property for you within 48 hours of your call.

You should also advise the relevant agent/s that you have the ability to make a quick decision.

Hopefully before long you’ll find a suitable property and you will be in a position to close the deal.

John Craddock is a chartered surveyor and member of the Residential Property professional group of the MediKids