# House prices in Lucan - sell investment now or hold on ?



## dubinamerica (6 Apr 2006)

We have a (now) investment property in Lucan. We lived in it for three years and it has been rented out to tenants since end of 2000. We are considering selling this which would enable us to bring our PPR mortgage right down to a small amount or alternatively reduce this and leave us this money to invest elsewhere .

Right now prices seem to be around 380K in the area.   Are there any opinions as to what may influnece increases/static prices in Lucan? We are thinking that the stamp duty threshold may impact prices moving above this price but on the other side Adamstown prices seem so high that they make other houses in the area look much nicer. Also - we've heard that there may be a rail some place in Lucan soon (along with the Adamstown stop) . The other negative is that as each year goes by the CGT percentage is increasing..    Any views would be appreciated.


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## jonnyhotspur (6 Apr 2006)

If you don't need the money, I doubt if you will do much better investment wise than dublin at the moment. Adamstown or the recent interest rate rises hasn't slowed down the price increases in Lucan. I've been looking for a house in Lucan since Christmas and you can add about 30K to the advertised asking price. The stamp duty threshold doesn't seem to make any difference. 
I've been talking to a lot of Estate Agents recently and the rental market is very strong in the area.
The DART is on its way (well it's planned) with 2 new stations due to be built in Adamstown and Kishogue. LUAS is planned but that might be a good few years yet.
If I were you I'd hold on to it.


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## dubinamerica (6 Apr 2006)

OK - that's v interesting about how the prices are going -thanks for the feedback.  Do you happen to know where Kishogue is ? I haven't heard of that area at all.   (BTW - good luck with your house hunting in the area).


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## SteelBlue05 (6 Apr 2006)

Which estate is your house in? The estates in Marys Parish or Esker Parish are deemed the "best" estates and therefore probably a good investment.

I would say keep it (assuming the rent covers the mortgage repayments). The roads are being upgraded, Adamstown will have a railway station, the proposed new technology campus at Clondaklin may increase the rents, the proposed Luas in 2012 etc will all impact positively on prices in Lucan. As Lucan prices are below the price ranges for similar property in other parts of Dublin you can be fairly sure that the prices will continue to rise. 

In the last 12 months the advertised prices for 3 beds have gone up from 290-300 to 375+....


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## Howitzer (6 Apr 2006)

I don't really understand this notion of the 2 new trainstations bumping up prices. 

For a start when these stations arrive you'll still have to commute to the station. Anyone who's lived around the sprawl that is Lucan will tell you that this on it's own could take ??? 15 - 30 mins at peak times by CAR. Impossible to walk, unless you're adjacent, and since Kisoghue will be in Clondalkin sure why not just buy there? And when you get off the train you'll be dumped at Hueston Station! Now I know you can then get a Luas from there to the IFSC but it'll be completely jammers by the time it gets to Hueston and sure you can already get a bus from Lucan, along the bus lanes, which gets you into the CC in 30 mins total!!!

No idea if it remains a good investment, though I think it's revealing that developers have started advertising developments that 'should' be Lucan as being elsewhere (Adamstowns, St Lomans is quoted as Palmerstown!)


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## Glenbhoy (6 Apr 2006)

Why does'nt Johnny buy from dub - everybody's happy and transaction costs are significantly reduced - if only you'd kept your mouth shut Johnny about the increase in prices


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## SteelBlue05 (6 Apr 2006)

Howitzer said:
			
		

> No idea if it remains a good investment, though I think it's revealing that developers have started advertising developments that 'should' be Lucan as being elsewhere (Adamstowns, St Lomans is quoted as Palmerstown!)


 
Dont think it is revealing really, Adamstown is a new district built on a greenfield with 10k homes. You hardly try to claim it as just an extra bit of Lucan!


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## Howitzer (6 Apr 2006)

SteelBlue05 said:
			
		

> Dont think it is revealing really, Adamstown is a new district built on a greenfield with 10k homes. You hardly try to claim it as just an extra bit of Lucan!


 
I would, yeah!

Look it's no more a greenfield site than any of the other estates built in the last 10 years, is directly adjacent to the Superquinn edge of Lucan, and is significantly closer to lucan village (if that means anything).

I think it's just marketing, but that propbably belongs on a different thread .....


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## asdfg (6 Apr 2006)

> The other negative is that as each year goes by the CGT percentage is increasing


 
The CGT % was reduced from 40% to 20% approx 5 year ago. It hasn't changes since.  



> get a Luas from there to the IFSC but it'll be completely jammers by the time it gets to Hueston


 
Quite often there is a dedicated Luas at heuston station for those getting on a heuston - three lines at heuston station. - I think the intension is to use this luas more often in the future


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## SteelBlue05 (6 Apr 2006)

Howitzer said:
			
		

> I would, yeah!
> 
> Look it's no more a greenfield site than any of the other estates built in the last 10 years, is directly adjacent to the Superquinn edge of Lucan, and is significantly closer to lucan village (if that means anything).
> 
> I think it's just marketing, but that propbably belongs on a different thread .....


 
So what is your point?


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## Howitzer (6 Apr 2006)

asdfg said:
			
		

> Quite often there is a dedicated Luas at heuston station for those getting on a heuston - three lines at heuston station. - I think the intension is to use this luas more often in the future


 
Didn't know that, makes sense. 

My point was that it'll still be quicker to get a bus, along the QBCs from Lucan to somewhere in the centre, rather than commute to train - train to hueston - Luas to centre.


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## SteelBlue05 (6 Apr 2006)

Howitzer said:
			
		

> My point was that it'll still be quicker to get a bus, along the QBCs from Lucan to somewhere in the centre, rather than commute to train - train to hueston - Luas to centre.


 
What is your point about Adamstown being in Lucan or not and what difference that makes?


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## Howitzer (6 Apr 2006)

SteelBlue05 said:
			
		

> What is your point about Adamstown being in Lucan or not and what difference that makes?


 
I wasn't answering your question, it does sometimes happen that when you're replying on a thread the thread itself becomes updated by someone else.

My point on Adamstown was that I thought it was just marketing, I made that clear from the start. It's not the biggest point in the world and I'm sure one that's been hashed about before on other, more appropriate threads.


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## SteelBlue05 (6 Apr 2006)

you said... "its revealing that developers have started advertising developments that 'should' be Lucan as being elsewhere (Adamstowns, St Lomans is quoted as Palmerstown!)" 

Revealing in what way?


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## jonnyhotspur (6 Apr 2006)

Here you go dublinamerica. As Howitzer says unless your property is south of the Benny Hill it would be a long walk to get to Kishogue.


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## Howitzer (6 Apr 2006)

Previously developers, through whatever means, sought to have estates added to the Lucan postal area for marketing reasons. They could then add a few grand more onto the price. The opposite now appears to be the case.


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## SteelBlue05 (6 Apr 2006)

Howitzer said:
			
		

> Previously developers, through whatever means, sought to have estates added to the Lucan postal area for marketing reasons. They could then add a few grand more onto the price. The opposite now appears to be the case.


 
I though it was the Government or the South Dublin County Council that planned Adamstown rather than some developers.


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## Howitzer (6 Apr 2006)

Cynics might suggest otherwise. 

St Lomans then. Palmerstown?

My point boils down to the fact that I believe Lucan has lost a lot of it's appeal, certainly for owner occupiers, that it has a reputation as being an urban sprawl. And that developers recognise this by categorising their new developments, where possible, as being somewhere else.

Prices are indeed increasing quite markedly, which completely goes against what I'm saying, so I guess you pays your money you takes your chance.


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## jonnyhotspur (6 Apr 2006)

Howitzer said:
			
		

> My point boils down to the fact that I believe Lucan has lost a lot of it's appeal, certainly for owner occupiers, that it has a reputation as being an urban sprawl.


I beg to differ with you here Howitzer. I probably didn't make myself clear at the start. I own a house in Lucan. I am trying to buy another one as an investmet property. Meself and Mrs H moved here 6 years ago from city center and love it. Getting married in May and plan to raise our children (if I have any lead ) in Lucan. We have the utmost confidence in the area.


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## Howitzer (6 Apr 2006)

I also live there. Opinion, that's all.


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## SteelBlue05 (6 Apr 2006)

Howitzer said:
			
		

> My point boils down to the fact that I believe Lucan has lost a lot of it's appeal, certainly for owner occupiers, that it has a reputation as being an urban sprawl. And that developers recognise this by categorising their new developments, where possible, as being somewhere else.
> 
> Prices are indeed increasing quite markedly, which completely goes against what I'm saying, so I guess you pays your money you takes your chance.


 
I'd disagree with that too, I have been living there for 3 years and think it is great. There is very little anti-social stuff going on, nice parks, nice estates etc. On the contrary I think Lucan was underrated and now people are beginning to see its appeal and therefore the prices have been going up quite a lot in the last 12-16 months.


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## Theo (6 Apr 2006)

SteelBlue05 said:
			
		

> I'd disagree with that too, I have been living there for 3 years and think it is great. There is very little anti-social stuff going on, nice parks, nice estates etc. On the contrary I think Lucan was underrated and now people are beginning to see its appeal and therefore the prices have been going up quite a lot in the last 12-16 months.


 
As someone who grew up in Lucan for the best part of 30 years, it is pleasing to see SteelBlue's note.  I was saying this for years to the D4 crowd i went to college with, i was duly dismissed, and now years later most of them have bought houses in the area.  Ha ha!


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## sun_sparks (6 Apr 2006)

um a rather gobblydooky message was posted by me. Running out now and will repost later!!


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## dubinamerica (6 Apr 2006)

Thanks for the feedback - I've just been trying to make out the map on the south dublin co. council - is the Kishogue train station going to be near the back of Foxborough estate ? If so would this be really catering for Foxborough, Earlsfort, Rochfort, Griffeen etc residents ? i.e. those estates built during the late ninties ?  Any idea when this train station would be up and running ??   I noticed a big increase in house prices in the area over the last year and thought they may stagnate around 380K now (mind you I had also expected them to stay at the 317K) because of the stamp duty limits but I would think that people will want the flexibility of a train station.   Also - is the Luas or Metro going to be in addition to this commuter train?   Trying to keep track of these transport initiatives is making my head spin !!


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## dubinamerica (6 Apr 2006)

Sorry - just noticed the date of 2012 posted for the Luas in an earlier posting - again any idea as to location of this - is it even at that stage yet ??   On the CGT front , we lived in the house for a few years before renting so as each year goes on we would be paying a higher percentage of the CGT (right now we'd have to pay say 5/9ths , next year it will be 6/10th , following 7/11th and so on of the 20%) . If prices stagnate we'd have to pay a bigger chunk of profit out.. (not sure if I'm explaining it that well). On the v. positive side we have a sitting tenant and the rent covers mortgage payments.


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## Howitzer (14 Jul 2006)

Lucan now encompasses all of Dublin west of, and including, Chapelizod. Adamstown also subsumed into the belly of the beast. Tomorrow, the world!

Todays Indo (free registration required).


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## sun_sparks (14 Jul 2006)

Yipee - it means I'll be living in "old Lucan" now!


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