55 Merville Road, Stillorgan (-210k, -28%)

Was 760k
irishpropertywatch.com/viewS … &Site=daft

Now 550k
daft.ie/searchsale.daft?id=5 … rch=1&ea=1
€370/sq ft

Having looked at this gaff last year I was initially pleased when I saw this drop.
However on closer inspection I got a nasty shock - they’ve cut off half their garden !
(It used to go back all the way to the hedge)

This apparent sleight of hand was exposed when I saw this on google…
dlrcoco.ie/planning/planlist/2010/Apps12.htm

XX Who needs a garden in the suburbs?

The vendors have halved the plot size while only reducing the price by 210K.
Therefore this should be more properly categorized as a price rise.

Furthermore they have the effrontery to suggest that because there is a bit of garden left to the side a purchaser could develop that !

Very strange move in this market?

Saw house first time around and put off by amount of house that is under flat roof, which would need replacing.
There is a detached house not too far away from this that has been on sale for two years, reasonably enough priced but small plot of land and, to date, no takers.
Is a vendor seriously going to plough money into another house in the back garden and have two unsold properties to offload in a depressed market.

10 cents worth of my value judgment ( but I am right).

Completely agree - the only potential buyers in this area are young families.
Top of their list is a decent garden.
That would rule out both eventual houses.

Presumably the logic is this:

  • The new house will cost ca. 200K to build
  • Sell the original house (for ca. 500K) before the new one is built but after planning has been granted for the new one.
  • Pocket the 300K and live in comfort

They’ve pulled a further stroke here that last years estate agent (ReMax Leixlip) didn’t dare do - list the house as Mount Merrion.
(meanwhile their 2 neighbours on the same road are categorized as plain old Stillorgan !)

Yep that is very cheeky alright - there is no way that is Mount Merrion.