Ashley House, Blacklion, Greystones, Wicklow (-283k, -32.3%)

Was 875k, 795k, 650k … id=1885681

Sold for 592k … and-70427/

Pictures still on myhome here as of today anyway:

Purchasers overpaid by about €150k I reckon. Very close to the main road and Blacklion ain’t The Burnaby to say the least!

Don’t know greystones but house looks great to me and value of sorts in the current market

So this lovely and very large period house and gardens are only worth 440k? In your dreams, chap… Yet another example of the daft, resentful hyperbole that blights the Pin.

€ 135 per sq ft in greystones with zero value for the site looks ridiculously cheap to me.

I reckon at just under €600k the buyers picked up a bargain

What’s with the obsession with valuing houses on a per sq ft basis? It’s a very easy way for EAs to do business, but not realistic. It is one house, for one family. One family has to pay for it. It’s a big house, so let’s assume a few kids (with all their attendant expenses) this is expensive for what it is.

My valuation method was €2,400 x 12 x 15. Standard valuation method. It would be hard to even get €2,400 per month in G’stones for this. This is a suburban area. Not a particularly pretty or quiet part of Greystones. Not a nice site. Small garden compared to the house. Right on the main road at a busy junction.

“Ridiculously cheap” I think not. That sounds like some of the rubbish that is spouted here by EAs!

So you reckon all houses regardless of size should be the same price???

Of course, I don’t think all houses should be the same price. Are you serious? But if you think people mortgaging themselves for up to €600k (depending on deposit or equity from another property) is a “bargain” and “ridiculously cheap” then you are wrong. For most people that property (when interest is taken into account) will cost them €750k to €850k to repay over 25 or 30 years. Yeah, a bargain. A ridiculously cheap bargain.

I’d guess the buyer for this gas a low ltv, are probably in their late thirties. Or early forties with 2 or 3 kids.
They probably had a lot of equity from one or two properties and may have saved a bit if cash too along the way (may have got lucky with company shares etc, there may even be some inheritance).

All of a sudden the mortgage might be very small or zero.

I know of a bidding war for an ordinary enough 4 bed in scd where three cash buyers bid chased the property. One of the cash bidders thought they’d be the only cash bidder, the other two possibly thought the same!. Based on anectodal evidence there still seems to be a lot of this going on.

OK cheap was poor word choice by me to use for a 600k property, but I think it was very good value.

For most people it will cost them more than 850k to repay.

But most people will never be able to afford a house like this. Houses of this size will be purchased by couples with a combined income of 200k plus. With a 100k deposit that would be about 2.5 times income or about 20% of monthly income.