78 Georges Avenue, Blackrock (-0.5mln, -17%)

First cut, was 3mln

irishtimes.com/newspaper/pro … 93340.html

Now 2.5mln

www.myhome.ie/1403859

€694 per sq ft, best of luck with that one :unamused:

The closest thing in the neighbourhood is probably Rue de Bac, Avoca Avenue, which caame on the market last September (around the same time as 78 Georges Ave) for €2.85m, dropped to €2.6m, and sat there for a long, long time.
irishpropertywatch.com/…349902&Site=myhome
daft.ie/1554705

(It’s discussed here: viewtopic.php?f=23&t=33415&start=0)

That property is now sold - sign went up some time around early April. No idea of the price it fetched. But in my opinion 78 Georges Ave has some disadvantages against the Avoca Ave property, on the grounds that:

  • It’s semi-detached
  • Does not offer nearly the same level of privacy
  • The road is not as desirable as Avoca Ave
  • Lots of traffic and disc parking to front of property

So my take is that a further price drop will be needed to entice in the kind of viewers who must eventually decided to buy Rue de Bac when it’s asking price was €2.6m. We don’t know what was actually paid, but that type of viewer is obviously out there, folks.

Rue de Bac is still listed on Colliers website as being for sale:

colliers.com/markets/Dublin/ … esidential

P.3

Agreed that Avoca Ave is a better road. Yes, it’s not 1 minute from the Rock Road but Georges Ave sees a lot of traffic given all the one-way-streets and people trying to get in the Frascati Centre coming from Town (I walk past this house twice a day). It’s a bit of a rat run.

It is a lovely house, though. Much better condition to the one next door which is occupied by a very elderly looking gent.

The one on Avoca Ave definitely has a SALE AGREED sign on it. Even though it is green. :open_mouth:

As per my earlier post in this thread, Rue de Bac is SOLD. Colliers website is not up to date but the SOLD sign went up a few weeks ago (I pass the house almost daily) and has now been taken down. A quick phone call to the agent’s office last week confirmed that the house is Sold, not Sale Agreed; the Internet is not always an accurate tool for research (many EAs are slow to update their websites) and resorting to the phone is sometimes a better bet.

As an active househunter myself I like to understand what other buyers are doing. The reason I cited this sale is to point out that there are still serious buyers with serious money even in this market. This buyer may or may not be making a good decision and their preference (including house colour :slight_smile:) may be different to yours and mine - but transactions make the market, and the fact remains that this transactions has taken place at a heady level.

Took a long time but its now sale agreed: myhome.ie/residential/brochu … in/1403859

I very much doubt they got within shouting distance of the asking price.

Interesting though it went Sale Agreed without any public price drops.

My sources tell me that in this case, at least one interested party was acting through an agent, which is not unheard of at the pricey end of the residential property market, especially (but not exclusively) in the case of international buyers. Negotiations may be long and drawn out (by the buyer’s agent). Public price drops are not so relevant as the EA tends to take a more proactive approach of communicating with the agent of the potential buyer than they do with the great unwashed (i.e. you and me) and the final price negotiated may be significantly less than the one last advertised.

Savills, Knight Frank and Colliers are the main agents in this sphere in Ireland, although SF have been trying to get a bit of this action too.

Thanks, sharper. Haven’t much experience at that end of the market. :wink: