55 Mount Pleasant Avenue, Rathmines

Did anyone see this listed for sale?
When I do a Google search for it it says it was on property.ie guiding 440k but has been removed. It seems it went on sale and sold almost immediately.

Not a mirage -

Here’s the link to the cached page webcache.googleusercontent.com/search?q=cache:F4UDzdaoXwgJ:www.property.ie/property-for-sale/55-Mount-Pleasant-Avenue-Upper-Rathmines-Dublin-6/517433/+%2255+Mount+Pleasant%22&cd=1&hl=en&ct=clnk&gl=ie&client=firefox-a

But it does say it’s gone now - there is another Ranelagh red brick terrace at 475k though myhome.ie/residential/brochure/7-chelmsford-avenue-ranelagh-dublin-6/112048- reality is slowly seeping in. But I would think the long term price of a place like this is 250-300k i.e. it can be purchased by a couple who earning around 60k each (2.5 * 1 salary + 1.25 * the other + 10% deposit ) .

I’d be very surprised if that Ranelagh house ever goes for as low as €250k. But I guess we’ll find out!

Fwiw, it has been on the market a very, very long time and I think has now had 2 price drops.

Larry

A very high earning professonal in Ireland makes about 150k to 250k a year. Houses in Ranelagh will not do, on that income.

Back to reality

Ranelagh will settle back around 200k, tallaght at about 45k.

It will be wonderfull

Ollie

You would be surprised what some high-earning professionals actually earn in Ireland. A hospital consultant gets paid the guts of €200k for their public hospital work alone. High earning consultants can expect to earn over €500k per annum (some almost twice that). Many barristers, partners in law firms and dentists would all earn above €200k per year. There is still a lot of money being earned in Ireland.

Indeed many middle managment in my line of work are earning in excess of €130K and they are not what I would call professional mor Lucky Bas!*&^%.
If house prices are to reduce to the levels bandied about here wages will will have to reduce significantly and quickly.

I agree johnboy but there aren’t an awful lot over 200k. The following quote from sharper thepropertypin.com/viewtopic.php?f=4&t=29581&p=375558 suggests that the ‘very rich’ demographic is very small - I would guess that it’s less than 40000.

These aren’t the people who buy the 3 bed redbricks in Ranelagh - they’re going to prefer Temple road, Palmerston Road etc where they can park the Jag and the Mini in the drive not on the street and have a 100 ft garden. They are the kind of people who buy ‘real’ trophy houses.

Before the Tiger the Ranelagh demographic was the steady senior civil servant, two teachers without children etc it then became Estate Agents, PR bunnies, Media people, etc generally from a rural background who really thought they had ‘made it’ by getting a house near where the ‘posh people’ lived and where their kids could go to the local school with the people that they aspired to be.

The Ranelagh Demographic has been one of the hardest hit by the bust so I really do believe that the potential purchasers are people in the 60-80k salary bracket and the only thing that will keep prices up is what banks are willing to lend. Thats at about 4X joint salary at the moment but it is declining steadily, as are the salaries of the demographic. I think the banks want to get back to the old formula - which equates to roughly twice joint salary - as soon as possible but not so quickly as to expose the real losses inherent in Nama.

I wonder will it be possible for the likes of high earning consultants/dentists… (who by and large get paid by the public purse) to maintain their grossly inflated salaries over the long run given that there will be extra scrutiny on our finances from the EU. I suspect reality will eventually hit home for the government here and they will have to act on this cost.

If the IMF ever come in I suspect this would be decided on before they go for their 1st coffee break

Not too sure about the others but my friends in private health and dental care are not too concerned. The more the axe is swung at the health-care budget, the more work there is for the private sector. In the extreme many would probably ditch their public contracts altogether and work purely in the private sector. This might have some effect on consultant fees.

Ahhhhhhh… but then they would have to pay for all their equipment and get their own medical staff and pay proper insurance and declare all their income and…

Hmm, and I thought they were just doing it becuase they wanted to help people…

Thanks for that. They must have got close to the asking as it sold very quickly.
Agree that these are not the houses for hospital consultants. I think when they madness finally abates the likes of these should be available to those on quite modest incomes.

7 Chelmsford Avenue has a floor area of <75sqm and only a “courtyard” instead of a real garden… They have packed a lot of rooms into a small footprint.

Assuming the build quality was ok I would prefer to live in a (decent) apartment with designated parking than that. HOW can anyone even think it is worth €475k??? I will expect places of this size (not to confuse them with the bigger red-bricks in Ranelagh) to settle for less than €200k.