Maudabawn, Cootehill (-55k, -18.6%)

Was 295k then 275k


then 260k


Now 254k

Built out of wood. I quite like it.

Timber… :stuck_out_tongue:

A house like this pre fab (top modern spec) from Germany would cost to built about what 60-80K of course site cost not included!

Add 100k for site =180k + 32.5k(18% profit and overhead)=212.5k (the true value of the property new).

What then as land prices fall, this only redoubles te fall.

So it coudl be true to say that the fall in a house price is made of of two things, Fall n Land Vlue + Value in Assest class = true value.

So we shoudl be watcing land values cosely as well

Circa 2 acres for only 12K

I haven’t noticed an Acre being less than 50K in a long while. This may be an outlier or have other mitigating circumstances affecting its price but it looks like someone who might want a few bob quick and aren’t too bothered about the hold to speculate since this is jsut a parcel they have hanging round. I could be wrong.

Worth comparing to the rest of the properties/land

Hard costs are a constant for the most part, ie. material labour etc (with the exception of inflation).

The variables are 1. land value 2. profit and overhead or the % return on investment a builder is willing to accept in exchange for his service and investment.3. The cost of money is also a variable.
Therefore imo. land + construction cost + % overhead and profit is what should determine the price of a new construction. The value of a second hand hse should be a deprecicated multiple of that.
If the price of new construction falls then it can be deduced that the price of land and or profit and overhead is what has fallen. Usually the lowering of intrest rates has the effect of increasing demand thus driving up price.

The one constant variable which I will not get into (as the value/cost thereoff is impossible to determine) is our ingrained need to be land owners which some suggest is a direct result of our sordid past as tennants of the English ruleing class.

Now 240k

Getting close to your true value murf.

Noticed this in the description:

Is it a repo firesale?

Now 239k