8 Templeroan Drive, Knocklyon, Dublin 16 -56k (10.27%)

daft.ie/searchsale.daft?id=445191

Semi-Detached House
4 Bedrooms, 2 Bathrooms
09 November 2009
* Price changed: from ‘€545,000’ to ‘€499,000’ [Found by n/a]
27 October 2009
* Price changed: from ‘Region €545,000’ to ‘€545,000’ [Found by n/a]
29 May 2009
* Price changed: from ‘Region €555,000’ to ‘Region €545,000’ [Found by n/a]
30 April 2009
* Initial entry found.

Overall Floor Area: 126 Sq. Metres (1,356 Sq. Feet)

BER Rating: D2

Now asking 435K

daft.ie/searchsale.daft?id=494743

I let a house close to this estate about 5 months ago.
Its went for €1,200 pm.
Granted, not as nice.

Nevertheless, €1200 x 12 = €14,400 pa.
€14,400 / €435,000 = 3.3%

Lets be very generous and say it would achieve €1,400 pm.
Thats still only a 3.86% yield even before we include any other costs.

Mr. A. I don’t get this way to put a value on a property. Maybe I just have a mental block but why would a valuation based on yield be used when as far as I can tell nobody is buying for the purpose of generating a yield?

p.s I’ll be depressed if you tell me there isn’t a more sensible/less crazy way to value.

I asked Ronan Lyons that specific question in a recent Daft thread. Here’s the Q&A:

viewtopic.php?f=4&t=27387&start=30

Back up to 465. Makes sense :slight_smile:

I’m guessing there must be some Sale Agreed’s in the area emboldening the seller. The map shows about 25 properties for sale in Knocklyon and prices look sticky as hell.

A couple of 3 beds in Woodstown at €385k
daft.ie/1498789
daft.ie/1499961

And a 4- bed for €450k
daft.ie/1484808

In Templeroan an admittedly fine 4 bed, but at a whopping €520k:
daft.ie/1463296

And incredibbly, a 3 bed in Woodfield at €515k!:
daft.ie/1411741

The brochure reads: “REDUCED TO SELL!! REDUCED TO SELL!! REDUCED TO SELL!!”…so it was more than that. Wow.

Anyway, all those houses need either people with significant equity and/or a whole bunch of €80k-€100k household incomes to sell. Sorry, I just don’t know how those 25 or so properties can possibly shift on those terms. I just don’t think there are enough of those people about any more.

yep woodfield was more

irishpropertywatch.com/salesSearchResults.php?Address=136+woodfield&Beds=any&Type=any&Region=any

There are plenty of houses around there for sale for more than 12 months.

They’re not really participating in any sort of market, best ignored.

€450 now
myhome.ie/residential/brochure/8-templeroan-drive-knocklyon-dublin-16/204024