Fairlawn House, Dalkey (-€4.85m, -77.6%)

there are two lisney for sale signs on it in streetview if you look for it on googlemaps.

Must’ve been a lot of half munched cornflakes flying around Dalkey kitchens when that front page was opened up.

Can’t see much on Google StreetView:
but you can on Bing Maps
bing.com/maps/default.aspx?v … 2274&sty=b

That is some serious house.

the creditors of a particular media commentator must be feeling antsy too

Puts a lot of the 950k 4 beds to shame. “Worth” €1.4m today. 900k in 2 years time.

You can still see the pictures through the cache, if you click on what you can see of the picture on the snapshot the photos come up. ; webcache.googleusercontent.com/s … .google.ie

What do you think the implications of this price revelation will be on something like this-which i have had my eye on for a year, but am still about 40% off asking…

myhome.ie/residential/brochu … lin/219499

I’d love to say that it will cause big ripples in the prices for local houses, but my gut feeling is that it will have absolutely no effect. This is based on the way that certain houses sell quickly when they are priced like value for an area (and look like they will set a new level for that area), however other houses within the area don’t seem to learn that this is the going rate now and languish on the market for a long time at the wrong prices.

I think it will have a big effect on houses over €1million. It has become difficult to achieve over €2 million for these larger upscale houses where they previously were looking for in the region of €4 million.
I suggest the new price level on these houses is now down at €1.5 million - based on this Dalkey deal and what’s going on with massive price drops in Shrewsbury/Ailesbury Roads. It will not impact anything under €1 million.

three-odd years is an awful long time on the market!

Not to mention the listing (apparently even covering the interior) and the fact that it’s not been touched since 1905 when built… that’s a fairly good price tbh.

Like I said,

It’'s the top of the market south dublin mansions that were most overvalued so they will be the ones most to fall.

Still a hell of a lot of cash to pay for a gaff.

I see as this as one of the big events in the property market. It is similar to the events like Sorrento Terrace achieving 20mm+, Sean Dunne’s wife paying 53mm for a house on Shrewbury Road, remember the first estate of new houses in Foxrock/Cabinteely that were all launched at over 1mm euros? Well this is that process in reverse. Public psyche is changing

Note, this house is on an acre. Sell 2 quarter acre sites and you could get 250k for each one. So net you but this house for 900k. I see this as a big deal and I also wonder how the price was published as it was not in auction?

Sorry guys, but I think you are in danger of getting carried away with the impact of this place on property prices.

Look at the sale in October of Prince Patrick in Knocknacree Road in Dalkey (4,000 sq foot house with cottage on half acre) for €980k - we thought this was going to cause big ripples on house prices in the area but did nothing, so I don’t really see this as doing much either. It’s sold now and will soon be forgotten about by sellers who will still think their houses are better and worth more anyway.


Ok I agree that this and Prince Patrick may be unusual - a limited market given the listed building status and the amount of cash needed to do them up… but all the same, the price this achieved makes a mockery of all the more ordinary houses on tiny plots asking over 1m in the area? Some examples being:
myhome.ie/residential/brochu … lin/368169
myhome.ie/residential/brochu … lin/205863
myhome.ie/residential/brochu … lin/219399
Surely these ones will have to dramatically drop their prices to have a hope of selling if a mansion on 1 acre sells for 1.4m?

I too think this will be a wake up call of a kind. But also really curious as to why we have this info? with all the smoke and mirrors about house prices how come this was front page of the IT?

In whose interests was it to publish the price? The vendor or purchaser or estate agent or are there darker forces at work?

Top 5 most read stories on the Irish Times website… I hope some more people read it. Still total denial out there.

Clearly, the EA and the IT decided that it was a good idea to put a price drop of this magnitude on the front page.

Intransigent vendor, are you getting the message?

Clearly, the vendor could sue the EA if they revealed the selling price without their permission.

Not that vendor! (obviously clearly)…

The message is for all the other vendors in town holding out “for what it’s worth.” :slight_smile:

No sales = No commission = No job