25 Gainsborough Lawns, Malahide (-175k, -23%)

Old price
770k … cd=2&gl=ie

New price
myhome.ie/search/property.as … earchlist=

I remember that house was on sale since summer 2006 , amazingly they reduced price just now.
Recognized by ancient Merc:))

Now 715,000


24, 25 & 26 are all for sale, with 24 shading it at 710,000 and 26 having dropped it’s price from 730,000 to 715,000

Number 25 is now down to 700k


Back up to 725k

And down to 695k


Now 670k

According to this number 26 went sale agreed at 715k in Jan.

Now 650k, and possibly on the market for 2 years.


Now 620k


Gainsborough Court has already dropped to 575 (its here on Price Drops), and someone who once lived there (sold at 750) tells me Court is one of the nicer streets/houses.

yep I so want to spend 600,000 to live half way between Swords and Malahide in a tiny house with almost no garden.

Still a long way to go. Tax is going up incomes going down and property will have to suck in that waistline if it wants to get sold.

Now 595k


I notice a lot of those please came off the market unsold. There are only 7 for sale as of today.

Anyone know how much they were new and how old they are?

Maybe they’re at original cost now and owners can go no lower…?

Cannot remember exactly (a friend bought a house in this estate off the plans) but they were definitely purchased for a price less expensive than they are now advertised. So the owners are not in negative equity. The recession is only really taking hold now so prices in general will drop further and I believe they will start to drop faster also.
David Mc Williams, economist recently said on RTE radio ‘Buying a house now is like catching a falling knife’!!

Gainsborough phase 1 was back in '99. They listed for £220k, and were up to £310 in '01.

Hmm, I think if you put inflation annual growth at 4% for the last 10 years it would make them about 325k in todays money…??

That’s a ridiculous statement. Can you back up “Still a long way to go” with any facts? I’m not saying that these houses will rise or fall but I would like to understand where you get your information.

Mayway - Despite your join date I see that you’ve made a total of two posts, both of them today, both of them in the North Dublin forum, and in both you criticise other posters for giving their opinion. Do you have a vested interest?

Ok. Let’s put it this way. What is the average household income in Gainsborough? It is not outlandish to suggest that these homes should sell for between 3 and 4 times household income in a deep recession. Perhaps less.

Or, to look at it another way, what is the rental value of these properties? What sort of (net) yield would you expect if you bought this as an investment? Then work out the property value and remember that rents are falling dramatically.

I accept that answers to the above are subjective (that is what makes a market). However, in my opinion and considering the deep recession we are entering, the “fair” value of a Gainsborough property could be considerably less than 600k.