1 Oaklands Drive, Sandymount (-75k, -8%)

price-drop

#1

PPR - 870k - 22/10/2020

Asking Price - 945k


#2

Asking price drops in the region of around 8% have been clearly observed on the margins (ie in commuter belt areas) since last Spring.

Wider market prices are generally set at the margins and tend to filter into the centre over time.

Many of those commuter belt properties remain for sale at the initially discounted rates ie the absence of any activity is likely a better indicator of where the market is at currently than the still sticky initially discounted asking prices.

Above would suggest that similar drops may be beginning to filter through to the centre ie SCD.

Im still expecting significant discounts to appear by around Easter leading into the summer. Lets see what happens…


#3

I would have thought with the increase in people WFH the commuter belt would have become a more attractive alternative than it was previously.

Regards the price drops filtering back in towards the centre it will be interesting to observe. I think many in the likes of Sandymount were simply just too expensive and the drops were necessary or they would have just sat on the market for a lot longer.