They were looking for 1,850,000 in March 2006
Then 2,400,000 in January 2007
Then 1,950,000 in June 2007
Recently listed at 1,750,000
Now 1,500,000
www5.daft.ie/searchsale.daft?id=325558
Goodbye 2006, we hardly knew ye.
A reliable test for the market indeed. That’s a substantial drop.
It’s quite possible that it will still be on the market in March 2008, two years later. Consider that the house next door #104 sold for 1.01m in May 2005.
Going from 1,850,000 in March 2006 to 2,400,000 in January 2007 … either the owner or the agent was completely out of touch with the market.
Incidentially, why does someone think it will sell at 2.4 if it failed to sell at 1.85 ? Madness.
Its like an anti-sale !
More to the point. If the media reports are factual (a big ask I know) but just if, it say:
March 2006 3 bed Terenure Road West = €1.85m
January 2008 larger 4 bed Terenure Road West = less than €1.3m
Not only are we lookng at equivalent 2005 prices, we are probably looking at equivalent 2004 prices.
2001 is still in our sites Crash.
Available again at 1,299,950. It had been 1,499,950 for a while.
In the last couple of months this property has gone from “For Sale” to “For Rent” and about a month ago went “Sale Agreed” now it’s back to “For Sale”. I noticed it’s been sitting empty half a year, possibly longer.
And we have it at last, a 50% drop.
Now 1,199,950
And I’d just like to reiterate
So did the market pass the test?
So if number 3 was a similar property that is a just over 35% drop in actual sales prices.
Big hallway, nice kitchen, large garden, 5 bedrooms, garage…that’s a decent spec, and in fairness the house seems to have a lot more character than many such properties. On the downside, Terenure Rd. West is busy with traffic all day.
One way or the other, €2.4m in 2007 must surely make it amongst the most overpriced houses of the boom for D6. Whether it is overpriced at €850k in 2010 remains to be seen.
Seems to have lost 450 sq feet somewhere in the last couple of years!
It’s overpriced alright . If you were earning circa 200k a year would you buy it ?
Doesn’t look that bad relative to quite a number of other properties currently on the market.
Can you list better properties for the same money?
Ordinarily I would say that is a nuts statement. House is worth 500k plus in a normal functioning market.
However it is now all about arrears, repossessions and lending.
Is it wrong to thing that someone with a 300k cash will pick the likes of this up at auction in the next few years?
I’m as bearish as anyone on property and have been preaching Armageddon on property to friends and family for donkey’s years, and even I find it hard to believe this will ever be €300k.
I cannot tell whether that’s a reasonable judgement given the carnage out there, or whether I, despite all my bearishness, still cannot fully suppress the residual belief that a house of this kind must be “worth” (lol) well over €300k. Maybe I am still as susceptible to bubble time thinking as anyone.
Parents bought a house in D6w in late 1970s for ~£IR30K (not as nice a house or area).
Even say this house was 40K back then, CPI’d and converted to euros, that would be ~€200K today.
Now 795k
Looking at satellite images the back garden has been significantly reduced in size due to the construction of another house.
Offers in the region of €700??
Sale agreed.
Wonder how much for.