25 Mount Merrion Avenue, Blackrock (-155k, -12.4%)


Was 1.25m
irishpropertywatch.com/viewS … ite=myhome

Now 1.095m
myhome.ie/residential/brochu … ock/359112


Was just about to post this one.

Similar looking house a couple of doors down was 2.9mil in 2008 although dropped to €1.5mil before it vanished.


Now sale agreed:



Doesn’t look like it is sale agreed anymore!


Quite a few in the area seem to be back on in the last while, St. Thomas Road, The Rise, Woodbine Road, Eglinton Road, all need some sort of word - money to buy, but none to renovate, decorate!


I’m not terribly surprised if the sale fell through; as with any period house of its age, a thorough survey of this property would doubtless reveal some renovation and maintenance requirements. Many buyers of period houses fall in love with the idea of owning such a house and close their eyes to the hidden costs. Nothing wrong with buying this kind of thing if you have the additiional funds for initial repairs and a sufficient income to afford relaitvely high ongoing maintenance and heating costs on top of the mortgage.

This is tough on the vendor as the guts of a year has passed since the house first went to market and they’ll need to make an appropriately deep cut in asking price. This price bracket has seen - and continues to undergo - some of the most dramatic declines. Unless they renegotiate with the original bidder (sometimes happens) I expect to see either a swingeing price slash or prolonged stay on the market.


Sold for € 1,215,000. Just appeared on the Price Register.

Bringing it close to the 1.25M asking before a hefty drop in November 2010. I wonder if there was much work done? If not, that price sounds about right - thanks to the Central Bank, we are never going back to 2006/07 but we are on a 2010 plateau unless/until Brexit strikes.