Flippin' heck

The Irish Property Bubble Sell, Buy or Rent?
#1

Thought I’d start a thread on house flips. Some other threads deal with them in the context of individual houses in WIW threads for example, but I reckon we need a global thread on flips.

The reduction of stamp duty has brought about this practice here, it’s been common in the States for decades, especially on foreclosures… I’d say it’ll be even more common once (read: if) the repossessions start in earnest.

The idea of the thread (if that’s not too prescriptive) is that Pinsters can identify house flips. Might save someone a few quid. Always good to know what the vendor paid for the house at the beginning of the process rather than finding out from your solicitor when he’s examining the title that they got it for tuppence ha’penny six months ago and by that stage t’s usually too late coz the auld heart’s set on it.

Any starters for ten?

#2

Let’s start with this, Woodlands, Glen o Downs, Delgany, Co Wicklow: viewtopic.php?f=10&t=58920&p=697950&hilit=Glen+o+downs#p697950

Bought for €155k in January 2013 it appears. [edit: link propertypriceregister.ie/web … enDocument ]

Now (April 2013) for sale for €220k [edit: link myhome.ie/residential/brochu … ow/2441644 ]

Caveat emptor.

#3

This sold for circa 250k in mid 2011
Now asking 970k
viewtopic.php?f=23&t=22117

#4

Thanks live wire.

Now that stamp duty is all but gone, we’ll have more and more of this I reckon.

Good for small-time builders. Also good for areas where there might be a few derelict houses that there’ll be a bit of renewal like the one you posted.

Mental price now though!

#5

A warning the Flipper seems not to have taken notice of.

It’s a 600 sq foot house in the middle of nowhere - once the sunroom and workshop are demolished. I mean, you wouldn’t consider a decent refurbishment which would retain that kind of tat.

With a motorway running through it.

#6

Some flips that have already occurred, according to the PPR. Note:
a) I only included Dublin – have about the same again for the rest of the country.
b) I only included upward flips – there’s an equal number of downward ones.
c) Some of it is due to rubbish data on the PPR – I left out what looked like the most egregious errors.

Date         Price         Date2        Price2        Diff        Address
10/02/2011   €85,000       20/06/2012   €140,000      €55,000     1 Faughart Road, Crumlin, Dublin 12
19/05/2010   €97,500       11/09/2012   €107,000      €9,500      1 Pimlico Cottages, Thomas Street
14/10/2010   €300,000      23/06/2011   €315,000      €15,000     111 Haddington Road, Ballsbridge
04/01/2010   €425,000      21/12/2010   €545,000      €120,000    12 Sallymount Avenue, Ranelagh
26/10/2010   €220,000      03/07/2012   €230,000      €10,000     124 mount tallant avenue, terenure, dublin 6w
24/02/2010   €500,000      01/07/2011   €1,030,000    €530,000    126 Merrion Road, Ballsbridge
15/02/2010   €380,000      08/07/2011   €662,500      €282,500    131 Castleknock Park, Castleknock, Dublin 15
14/07/2011   €233,480      20/12/2011   €295,000      €61,520     13b Clontarf Park, Clontarf
14/12/2011   €295,000      31/10/2012   €311,000      €16,000     14 Homefarm Park, Drumcondra
05/08/2010   €205,000      28/02/2012   €500,000      €295,000    143 Upper Kilmacud Road, Stillorgan, Dublin
10/07/2012   €230,000      31/10/2012   €235,320      €5,320      151 RICHMOND ROAD, DRUMCONDRA
03/03/2010   €175,000      14/10/2011   €183,000      €8,000      159 Benmadigan Road, Drimnagh, Dublin 12
31/05/2011   €200,000      20/12/2011   €335,000      €135,000    15A Glendown Close, Templeogue, Dublin 6W
21/12/2012   €177,500      15/02/2013   €220,000      €42,500     17 Strand Street, Irishtown
18/08/2010   €150,000      19/12/2012   €265,000      €115,000    184A WOODLAWN PARK GROVE, FIRHOUSE, DUBLIN 24
26/02/2010   €280,000      19/01/2011   €306,750      €26,750     19  Ardmore Close, Artane, Dublin  5
06/12/2010   €450,000      13/08/2012   €480,000      €30,000     201 Vernon Avenue, Clontarf
09/09/2010   €230,000      29/11/2010   €310,000      €80,000     21 Tamarisk View, Kilnamanagh, Tallaght
13/06/2012   €150,000      14/12/2012   €160,000      €10,000     23 Corbally Avenue, Westbrook Lawns, Tallaght
19/07/2012   €550,000      01/11/2012   €685,000      €135,000    23  Northumberland Road, Dublin 4
27/01/2011   €300,000      15/02/2011   €400,000      €100,000    23 Wilfield Park, Sandymount
14/12/2011   €57,250       05/11/2012   €120,000      €62,750     26 Deanstown Road, Finglas, Dublin 11
23/03/2012   €62,500       23/11/2012   €109,500      €47,000     268 Le Fanu Road, Ballyfermot, Dublin 10
13/05/2010   €75,000       20/12/2010   €125,000      €50,000     27 Drumcairn Avenue, Tallaght, Dublin 24
14/04/2010   €81,000       05/11/2012   €100,000      €19,000     3 Ashford Place, Off Oxmanstown Road
30/05/2012   €96,916       26/11/2012   €255,000      €158,084    3 chapelwood green, hollystown, dublin 15
30/05/2012   €450,000      21/03/2013   €750,000      €300,000    3 LEA ROAD, SANDYMOUNT
06/09/2012   €77,800       08/02/2013   €196,000      €118,200    33 Alderwood, Hollystown
10/10/2011   €160,000      29/06/2012   €295,000      €135,000    33 Ringsend Road, Ringsend
05/08/2010   €234,000      24/02/2012   €360,000      €126,000    33 St. Assams Park, Raheny, Dublin 5
22/09/2011   €107,000      18/02/2013   €113,000      €6,000      38 hillbrook woods, blanchardstown
12/05/2010   €150,000      22/03/2011   €230,000      €80,000     4 Lower Road, Shankill, Co. Dublin
09/07/2010   €200,000      19/12/2011   €335,000      €135,000    4 Streamstown Cottages, Malahide
02/06/2010   €125,000      29/07/2011   €176,000      €51,000     440 Mourne Road, Drimnagh
03/05/2012   €110,000      10/09/2012   €115,000      €5,000      57   Forest Hills, Rathcoole
25/09/2012   €155,000      30/11/2012   €180,000      €25,000     57 The Way, Hunters Run, Clonee
01/07/2011   €215,000      12/11/2012   €342,000      €127,000    6 Grotto Place, Booterstown
03/09/2012   €125,000      01/03/2013   €339,950      €214,950    68 South Lotts Road, Ringsend
19/06/2012   €60,000       03/09/2012   €90,000       €30,000     7 Sundale Park, Tallaght, Dublin
18/05/2010   €150,000      03/10/2012   €225,000      €75,000     79 Sundrive Road, Kimmage
07/04/2010   €253,947      16/10/2012   €255,000      €1,052.39   8  Harrisons Cove, Skerries, Dublin
12/03/2010   €268,722      13/05/2010   €325,000      €56,278     8 Peyton Court, Stoney Road, Rathcoole  Co. Dublin
20/06/2012   €240,000      08/11/2012   €245,000      €5,000      8 The Ospreys, Barnageeragh Cove, Skerries
27/02/2012   €195,000      13/03/2013   €335,000      €140,000    84 Meadow Park, Churchtown, Dublin 14
26/01/2011   €162,500      25/05/2012   €178,500      €16,000     96 Cappagh Road, Finglas West
08/02/2011   €176,211      03/10/2011   €260,000      €83,788.56  Apartment 7 Watermint, Old Bray Road, Cabinteely
10/02/2012   €160,000      28/11/2012   €190,000      €30,000     Apartment 8 Crannagh Court, Crannagh Road, Rathfarnham
#7

@ ps200306 - could you also include the downward flips? Doesn’t really make sense to exclude them. Thanks!

#8

the 500K in 2010 was not full market value. That is the only one I checked as the ‘profit’ did look too good to be true…

#9

02/06/2010 €125,000 29/07/2011 €176,000 €51,000 440 Mourne Road, Drimnagh

Making 50k on a house in Drimnagh between 2010 and 2011 was a miraculous piece of business (no idea if there was much cash put into it in the interim) Hats off to whoever managed that!

#10

Will do. Will sort them all by flip date as well … to see if the flips are getting flippier.

#11

PS, could you also exclude the Not Full Market Value ones?

#12

Dublin up-flips, sorted by flip date:

12/03/2010     268,722   13/05/2010     325,000         56,278   8 Peyton Court, Stoney Road, Rathcoole  Co. Dublin
09/09/2010     230,000   29/11/2010     310,000         80,000   21 Tamarisk View, Kilnamanagh, Tallaght
13/05/2010      75,000   20/12/2010     125,000         50,000   27 Drumcairn Avenue, Tallaght, Dublin 24
04/01/2010     425,000   21/12/2010     545,000        120,000   12 Sallymount Avenue, Ranelagh
26/02/2010     280,000   19/01/2011     306,750         26,750   19  Ardmore Close, Artane, Dublin  5
27/01/2011     300,000   15/02/2011     400,000        100,000   23 Wilfield Park, Sandymount
12/05/2010     150,000   22/03/2011     230,000         80,000   4 Lower Road, Shankill, Co. Dublin
14/10/2010     300,000   23/06/2011     315,000         15,000   111 Haddington Road, Ballsbridge
15/02/2010     380,000   08/07/2011     662,500        282,500   131 Castleknock Park, Castleknock, Dublin 15
02/06/2010     125,000   29/07/2011     176,000         51,000   440 Mourne Road, Drimnagh
08/02/2011     176,211   03/10/2011     260,000         83,789   Apartment 7 Watermint, Old Bray Road, Cabinteely
03/03/2010     175,000   14/10/2011     183,000          8,000   159 Benmadigan Road, Drimnagh, Dublin 12
30/08/2011     146,000   25/11/2011     150,428          4,428   14 Tolka Valley View, Finglas
09/07/2010     200,000   19/12/2011     335,000        135,000   4 Streamstown Cottages, Malahide
14/07/2011     233,480   20/12/2011     295,000         61,520   13b Clontarf Park, Clontarf
31/05/2011     200,000   20/12/2011     335,000        135,000   15A Glendown Close, Templeogue, Dublin 6W
05/08/2010     234,000   24/02/2012     360,000        126,000   33 St. Assams Park, Raheny, Dublin 5
05/08/2010     205,000   28/02/2012     500,000        295,000   143 Upper Kilmacud Road, Stillorgan, Dublin
26/01/2011     162,500   25/05/2012     178,500         16,000   96 Cappagh Road, Finglas West
10/02/2011      85,000   20/06/2012     140,000         55,000   1 Faughart Road, Crumlin, Dublin 12
10/10/2011     160,000   29/06/2012     295,000        135,000   33 Ringsend Road, Ringsend
26/10/2010     220,000   03/07/2012     230,000         10,000   124 mount tallant avenue, terenure, dublin 6w
06/12/2010     450,000   13/08/2012     480,000         30,000   201 Vernon Avenue, Clontarf
19/06/2012      60,000   03/09/2012      90,000         30,000   7 Sundale Park, Tallaght, Dublin
03/05/2012     110,000   10/09/2012     115,000          5,000   57   Forest Hills, Rathcoole
19/05/2010      97,500   11/09/2012     107,000          9,500   1 Pimlico Cottages, Thomas Street
18/05/2010     150,000   03/10/2012     225,000         75,000   79 Sundrive Road, Kimmage
07/04/2010     253,948   16/10/2012     255,000          1,052   8  Harrisons Cove, Skerries, Dublin
14/12/2011     295,000   31/10/2012     311,000         16,000   14 Homefarm Park, Drumcondra
10/07/2012     230,000   31/10/2012     235,320          5,320   151 RICHMOND ROAD, DRUMCONDRA
19/07/2012     550,000   01/11/2012     685,000        135,000   23  Northumberland Road, Dublin 4
14/12/2011      57,250   05/11/2012     120,000         62,750   26 Deanstown Road, Finglas, Dublin 11
14/04/2010      81,000   05/11/2012     100,000         19,000   3 Ashford Place, Off Oxmanstown Road
20/06/2012     240,000   08/11/2012     245,000          5,000   8 The Ospreys, Barnageeragh Cove, Skerries
01/07/2011     215,000   12/11/2012     342,000        127,000   6 Grotto Place, Booterstown
23/03/2012      62,500   23/11/2012     109,500         47,000   268 Le Fanu Road, Ballyfermot, Dublin 10
30/05/2012      96,916   26/11/2012     255,000        158,084   3 chapelwood green, hollystown, dublin 15
10/02/2012     160,000   28/11/2012     190,000         30,000   Apartment 8 Crannagh Court, Crannagh Road, Rathfarnham
25/09/2012     155,000   30/11/2012     180,000         25,000   57 The Way, Hunters Run, Clonee
13/06/2012     150,000   14/12/2012     160,000         10,000   23 Corbally Avenue, Westbrook Lawns, Tallaght
18/08/2010     150,000   19/12/2012     265,000        115,000   184A WOODLAWN PARK GROVE, FIRHOUSE, DUBLIN 24
06/09/2012      77,800   08/02/2013     196,000        118,200   33 Alderwood, Hollystown
21/12/2012     177,500   15/02/2013     220,000         42,500   17 Strand Street, Irishtown
22/09/2011     107,000   18/02/2013     113,000          6,000   38 hillbrook woods, blanchardstown
03/09/2012     125,000   01/03/2013     339,950        214,950   68 South Lotts Road, Ringsend
27/02/2012     195,000   13/03/2013     335,000        140,000   84 Meadow Park, Churchtown, Dublin 14
30/05/2012     450,000   21/03/2013     750,000        300,000   3 LEA ROAD, SANDYMOUNT

Dublin down-flips, sorted by flip date:

18/06/2010     300,000   20/07/2010     277,040        -22,960   3 PEYTON COURT, STONEY LANE, RATHCOOLE
16/06/2010     310,000   06/09/2010     290,000        -20,000   15 Aubrey, Shankill
28/06/2010     195,167   31/05/2011     180,135        -15,032   19 Beechpark Avenue, Castleknock, Dublin 15
18/01/2011     300,000   07/07/2011     286,500        -13,500   10 BETTYSTOWN AVENUE, RAHENY, DUBLIN 5
18/05/2010     245,000   14/07/2011     220,000        -25,000   49 SHANLISS ROAD, SANTRY
20/05/2010     300,000   22/09/2011     137,500       -162,500   56 Woodlawn Park Drive, Firhouse
23/12/2010     500,000   23/12/2011     367,500       -132,500   30 Cabinteely Close, Cabinteely
26/07/2010     230,000   10/01/2012     200,000        -30,000   16 Cannonbrook Court, Lucan
22/10/2010     240,000   17/01/2012      85,000       -155,000   15 OSTMAN PLACE, STONEYBATTER
02/12/2011     375,000   28/02/2012     360,500        -14,500   16 Dollymount Grove, Clontarf
26/11/2010     272,500   16/03/2012     215,000        -57,500   27 Ballyowen Avenue, Lucan
15/10/2010     305,000   30/03/2012     290,000        -15,000   10 Grange Park Grove, Raheny, Dublin 5
07/02/2011     322,500   27/04/2012     307,000        -15,500   226, BRACKENSTOWN ROAD, SWORDS
24/02/2011     420,000   25/05/2012     385,000        -35,000   22 Gainsborough Court, Malahide
19/01/2011     320,000   05/06/2012     230,000        -90,000   64 St. Davids Park, Artane, Dublin  5
07/12/2011      57,750   06/06/2012      40,000        -17,750   5 Claddagh Green, Ballyfermot
03/06/2011     410,000   19/06/2012     385,000        -25,000   7 Meadow Villas, Dundrum
28/10/2010     100,000   21/06/2012      72,200        -27,800   142  THE MAPLES, BIRD AVENUE, CLONSKEAGH
28/01/2011     153,000   16/07/2012      95,000        -58,000   13 Carman's Court, Carman's Hall
10/09/2010     442,000   03/08/2012     342,000       -100,000   6 Foyle Road, Fairview, Dublin 3
20/04/2011     145,000   16/08/2012     128,000        -17,000   20  Abbotstown Road, Finglas, Dublin 11
23/04/2010     330,000   30/08/2012     321,000         -9,000   147 Old Finglas Road, Glasnevin, Dublin 11
08/09/2010     175,000   19/10/2012     140,000        -35,000   55 Monksfield Walk, Clondalkin, Dublin 22
06/07/2011     357,000   08/11/2012     300,000        -57,000   24 Oak Hall, The Hill Malahide, Co. Dublin
11/03/2010     947,137   08/11/2012     809,000       -138,137   7 Farmleigh Avenue, Farmleigh Woods, Castleknock
18/01/2011     300,000   23/11/2012     295,000         -5,000   21 Ashington Avenue, Navan Road
15/06/2011     590,000   03/12/2012     575,000        -15,000   30 Lavarna Grove, Terenure
05/05/2011     260,000   03/12/2012     218,000        -42,000   34  Glen Ellan Crescent, Swords
13/07/2012     645,000   11/12/2012     557,000        -88,000   30 Milltown Avenue, Mount St. Annes, Milltown
11/05/2010     400,000   17/12/2012     369,000        -31,000   55 NORTH CIRCULAR ROAD, DUBLIN
01/03/2010     343,500   18/12/2012     329,000        -14,500   25 Charnwood Dale, Clonsilla
30/03/2012     235,000   19/12/2012     155,000        -80,000   37 Walkinstown Park, Walkinstown
25/01/2012     315,000   19/12/2012     290,000        -25,000   77 Idrone Drive, Knocklyon
25/01/2011     176,000   07/01/2013     125,000        -51,000   408, South Circular Road
12/11/2010     290,000   28/02/2013     257,500        -32,500   27 TUSCANY PARK, BALDOYLE, DUBLIN 13

EDIT: sorry - a couple of “not full market value” ones may have slipped through.

#13

Very interesting.

#14

Great work ps200306. Thanks. Very interesting.

Anyone who spots houses for sale on daft.ie or myhome.ie and also knows of them having been sold recently and appearing on the property price register should also pop them down on this thread.

Hopefully it will be of use to some prospective purchaser.

#15

Thank you for compiling this information ps200306, very interesting!

#16

Very interesting and well done to some of them. Nice profit there if they’re buying them as PPR’s, most impressive was Lotts Road, Ringsend. Bought for €125K in Sept, sold in March for €340k. I don’t begrudge the flipper this at all as I presume they’ve put in a bit of work (and been lucky with the market).

#17

38 Harold’s Cross Cottages, sold on 29/11/12 for €131,000 now on myhome for €225,000!
myhome.ie/residential/brochu … -6/2434897

#18

Surely if a builder continuously buys houses as PPRs, does them up and sells them on, this would be seen by revenue as a business activity?

#19

31 Royal Canal Bank, Phibsboro

Sold for €150,000 (yes, full amount) as per register in June 2012.

Back on for €335,000:

daft.ie/searchsale.daft?id=712250

Them’s some fancy brown carpets they’ve put in.

#20

^^ Bloody hell. Des Kelly gave them a bulk discount on their “bedsit special” I reckon. They even carpeted the grate in the dining room fireplace. A fire hazard I’d have thought!

Still a BER of F? Did they even put in energy saving bulbs?

Also, the barbed wire around the garden wall is a nice feature. :smiley: