28 Delaford Grove, Knocklyon (-325k, -45.5%)

Was 715k then 699,500

link

Now 649,500

www5.daft.ie/searchsale.daft?id=237550

This house requires a monthly disposable income of €10,000 to finance (post price drop, it is a motgage of c. €3k pm) and an asking price that would require a joint salary of over €150,000 to secure a mortgage on in the first place, assuming 4x salary.

[Edit by Jost: lets not get personal about the house or area]

Jost,

Fair enough. But if I may, I’ll rephrase what I originally said in more neutral terms, because I think the point is a reasonable one to make: This house is not a redbrick 3-up-2-down in Sandymount. It is a semi-detached in Dublin 16.

Ed: And fwiw, I grew up in these environs so do not mean to sound superior or disrespectful of the area.

Absolutely agree. This is a working class area. Maybe the old man would be a warehouse manager(40,000) and the old lady would work part time in a shoe shop (10,000).
With a 50,000 combined salary, this house needs to be :open_mouth: . Bugger, these people simply can’t own a home. This has to change.

Yes BB, that was precisey the kind of anomoly I was trying to highlight. And while I don’t agree that this is a working class area (“old” Knoclyon is definitely solid middle class), it doesn’t really matter what name we attach to it - the point remains that even for your average middle class couple, €150,000 is an absolutely massive income. And until these absurdities leave the market, we are not done with price drops.

I made a similar point about a genuinely working class area, Walkinstown, in the thread below. A modest terrace for €400k, and thus requiring a c. €100k joint salary to afford it…in WALKINSTOWN for crying out loud. I mean, it is just totally, totally illogical.

thepropertypin.com/viewtopic.php?t=8184

No problem Chomp, thanks for the extra info. I certainly agree that there are substantial anomalies in the Dublin housing market, especially when you compare today’s situation to Dublin in the 80s or early 90s. There is no shortage of examples of this. Maybe this might make for an interesting thread in itself in the Sentiment Forum?

Three years on, now 485k
daft.ie/searchsale.daft?id=609283

It’ll take another three years so.

I don’t know what this would have cost in 1995/6, but in real terms allowing for the IR£ > € change and for inflation, it would have been considerably south of €200,000 in today’s money.

Back in 2008 when they were holding out for 649k they could probably have got 500k (and the buyer would have thought it was amazing value). But they’ve only taken a price that was wrong back then and dropped it roughly in line with the price reductions we’ve seen over the past three years.

I don’t know the area well enough to be precise but based on what I know about prices in my own area (Blackrock and surrounds, which would attract a premium over Knocklyon) it seem to me they really need to be pricing this at well below €400k and ready to accept a good deal less or drop when the season commences in late September.

To back up this argument, I present three comparison 4-bed semi-detached properties in the Blackrock/Leopardstown catchment area:

  1. A 4-bed semi for €465k that’s probably a bit smaller but in better condition…
    myhome.ie/…1495281

  2. Almost identical to the Knocklyon house, €495k for a large 4-bed semi in Leopardstown (that’s Leopardstown proper, not the Ballyogan or Stepaside end):
    myhome.ie/…1473606

3: Finally, asking €465k but “open to offers”:
myhome.ie/…1272187

There are comparisons even closer to home that put it to shame:

myhome.ie/residential/brochu … 14/1364823

Yes, much, much better area and far finer house.

This is now advertised at 485K daft.ie/searchsale.daft?id=609283

I thought maybe the ad was old or had not been updated… scrolled down updated yesterday!

Bonkers price. That ancient Ford Escort with the go-faster stripes and alloy wheels tells you a lot about the general area.

Does anyone else think it’s a bit weird that so few properties come up for sale in old Knocklyon?

I’d consider that to mean within the M50 to the West, inside the Knocklyon Road to the east (but including Ashton, Dargle Wood and and Elkwood), south of Firhouse road to the north, and north of Scholarstown Road to the south. I guess one could debate Templeroan at this stage.

I count 4 on Daft at the moment. Maybe it’s a demographic thing with, if I may be crude about it, original owners in the area only reaching the age of death around about now. People in their later 60’s and 70’s.

The “age of death” haha!!! :laughing: :laughing: :laughing: :laughing:
Perhaps the families try to keep the houses in the family I’ve often seen posts on here saying how great Knocklyon is and the fact that once you live there you supposedly never want to move anywhere else…

I think it is a demographics thing Larry, the local primary school was the largest in Europe when I attended it(almost 20 years ago). Most of the houses seem to have been bought by young families between the late 70’s and the early 90’s - my parents and all my friends parents being among those.

Back on the market: 390k
daft.ie/searchsale.daft?id=706918

Simply stunning no less.