It is something of a surprise in an uncertain property market to see developers increasing prices when competitors are cutting theirs to generate sales.
Bucking current trends, the large Northwood development at Santry Demesne in Dublin 9 is bumping up the prices of all its apartments when it reopens its marketing suite today.
Last February, all 174 one, two and three-bedroom apartments in the first phase were sold off the plans within a week, making it one of the most successful schemes lauched this year.
Encouraged by the early response, mainly from first-time buyers, the developers have announced a new range of prices for the next phase, Temple Lawns, which will have a particularly good orientation. One-bedroom apartments with 510 sq ft will now be priced at £165,000 (209.510) compared to the earlier starting price of £150,000 (190,460).
Two-beds of 700 sq ft-plus which sold in February from £169,000 (214,590) now start at £187,500 (238,080). Three-bedroom apartments from 920 sq ft which started at £195,000 (247,600) will now cost from £235,000 (298,390).
According to Conor O'Gallagher of Ross McParland, the launch of Temple Gardens last February was "priced aggressively" to attract maximum interest in the new scheme. "There was exceptional interest then. The next block is nicer, but it's a tougher market now, so we don't expect to sell out this batch as quickly." Hooke and MacDonald is joint selling agent for the development which will eventually have 1,061 apartments.
The 210-acre site in the grounds of Santry Demesne is certainly unique so close to the city, with mature oak, ash and sycamore trees and a natural lake forming the basis of a public linear park.
The original temple folly in the gardens is to be reinstated as a monument. An office park is planned in a separate part of the development.
Prospective buyers can walk around a landscaped section of the grounds to get an idea of the impressive finish of the completed project, which is jointly under construction by Scottish-based Morrison Homes and Woodford Developments. The marketing suite with a two-bedroom apartment has been fitted out for viewing purposes.
This week's launch features an entire block of 27 units at Temple Lawns. For sale are four 510 sq ft one-bedroom apartments from £165,000 (209,510) and 12 two-bedroom units of up to 790 sq ft from £187,500 (238,080). Eleven three-bedroom apartments and penthouses from £235,000 (298,390) have up to 1,280 sq ft of accommodation.
The entrance to the scheme is off Santry Road, beside Morton athletics stadium, a little over a mile from Dublin airport.
Natural light is an attractive feature of the apartments, with floor to ceiling windows giving good views of the surrounding parkland.
Each apartment has access to both private and shared landscaped areas and most have large balconies or sun terraces.
The show apartment at the marketing suite features a typical two-bedroom unit, although most apartments vary slightly in size and layout.
As with all Morrison Homes schemes, interiors at Temple Lawns have an impressive standard fit-out and an up-to-the-minute look.
In the show apartment, the L-shaped sitting/diningroom and kitchen includes a fireplace with gas coal-effect fire and a choice of maple or white Shaker-style kitchen with mosaic wall tiles. Neff cooker, hob, extractor, washer-dryer and fridge-freezer are standard fittings.
Main bedrooms have an en suite shower room and good-sized fitted wardrobes. Decked balconies are fenced in latticed steel with a timber guard rail. The parkland will be an added attraction, with jogging paths, a sculpture trail, an ornamental lake and magnificent trees, some dating from when Santry Court House was originally planted.
Temple Lawns and the previous phase, Temple Gardens, will be ready for occupation next August.
The marketing suite will be open for viewing today and Friday from 12.30 to 2.30 p.m. and Saturday and Sunday from 2.30 p.m. to 4.30 p.m.
