6 Georgian Village, Castleknock (-1425k, -57.6%)

Was 2475k, 2225k

Now 1995k

Still grossly overpriced

A 5-bed detached in Castlknock for the guts of 2 mill ? - get real folks !!

Anything north of 1 mill. is still too much !

600 a square foot is about max these days - so, 1.2 million max

myhome.ie/residential/brochu … -15/107272


myhome.ie/residential/brochu … -15/219277
2100 sq feet, €619/sq foot


1.15m here

But still 1.3m here
myhome.ie/residential/brochu … -15/219277

Wow, is that what a kitchen in a €1.1m gaff looks like?

good point - I thought the pics from the kitchen and garden were from the wrong house as they both look terribly wrong for that place.


Looking for 1,050,000 now.

Insane in the membrane.

Ugh. Pseudo-Georgiana…

A tired house needing considerable investment to create a complete refresh.

Also, a mildly interesting example of house whose price has always been behind the curve where price drops have lagged rather than lead.

The price drops from the original price of €2,475,000 were:

€2,225,000 Sep-08 €250,000 10.1%
€1,995,000 Jan-09 €230,000 10.3%
€1,850,000 Dec-09 €145,000 7.3%
€1,595,000 Feb-10 €255,000 13.8%
€1,300,000 Oct-10 €295,000 18.5%
€1,130,000 Nov-10 €170,000 13.1%
€1,100,000 Mar-11 €30,000 2.7%
€1,050,000 Aug-11 €50,000 4.5%

This is a history of small price reductions that have an aggregate change so far of 57.6%.

How much more of a reduction will it take to sell - a further 10% to €850,000, which would represent an aggregate reduction of 65.7%?

What sort of drop would have lead to a sale in Sep-08?

For example, if the house sold after a 25% drop to €1,856,250 and the resulting money was invested with a very modest 4% net return, this would now be €2,088,029, 198.9% of its current notional sale price, which will not be achieved.

A 30% drop to €1,732,500 would still have a value of €1,948,827 now, still 85.6% greater than its current alleged price.

How many houses currently for sale at unrealistic prices will follow this example?

This house’s continuous drops tend to indicate some willingness to sell. So what leads to people ignoring the obvious and now making the one big cut to achieve a sale. There have been 8 drops so far. When would you expect a reasonable person to get the message: after the fourth drop, after the sixth?

Who is being unreasonable: the estate agent or the vendor?

Bird, hand, birds, bushes, etc., etc.

They got 750k on 31/05/2012. Good example of a place that if priced low at the start could have netted the sellers an extra couple of hundred grand or so.