Prices in Dublin 4 much lower than 2014 for €1m houses

property-market-sentiment

#1

Looking at repeat sales of the same property is the only way to gauge the market now where minimal properties are being bought.

Daft asking price data is irrelevant nonsense (agents and portals hide price drops and properties sell well under asking)

https://propertypriceregisterireland.com/search/address/st_albans_park/

2014 - 38 St Albans Park, Sandymount sold for €1.491m

Aug '20- 38 St Albans Pk, Sandymount sold for €1.25m

DOWN more than 15% since 2014

In 2011 - 52 St Albans Park put on market for €1.1m. Sold for €840k.

In 2020 - 52 St Albans Park put on market for €1.1m. Sold for €990k.

Up JUST 17% since 2011


#2

And 82 St Albans Park, put on the market in 2018 for €1.3m.

Sold after lockdown for €940k


#3

Good find on this. Very telling the drops as sometimes if you check the delta in achieved prices doesn’t tell if you if much was spent on doing it up in the intervening period.

If the 1m+ market in Sandymount has dropped then it is probably safe to assume it has basically everywhere else.


#4

My own view is that the collapse in volume is the true indicator of the current state of the market.


#5

I have seen enough activity (at levels quite below this) to indicate that there is still substantial demand out there but that lack of supply is forcing bidding wars. Whether there is any increase in supply is the big determinant for me as to where to market goes. If it remains muted I can’t see any major drops in the sub 650 range at least.


#6

Sandymount is at/below sea level and wonder if that factors into pricing. I looked at buying in Sandymount but went elsewhere due to likelihood of increased flooding etc in the coming decades. Wouldn’t surprise me if other purchasers had a similar view.


#7

But those factors have always really being there in Sandymount so I am not sure they can be used to explain why these expensive places there have come down so much.


#9

Interesting insight. Any idea why such a transaction would take place? Handing it to a son/daughter?


#11

I thought there was something on the PPR which indicated if a sale was not the full market price. I note that for No 38 the PPR indicates that it was the full market rate. Hopefully this is an accurately inputted field in most instances as to have to go to and cross reference against the land registry will make this sort of analysis more time consuming ( I understand why it needs to be done though)


#13

Buyersagent - No 38 is listed in the PPR as having sold for the full market price.

The other 2 examples confirm prices have fallen very heavily since the end of the lockdown.

Prices rose more in 2013 - 2014 than the total increase in the prices of No. 52 from 2011 to date.

No. 82 selling for almost 28% less than it’s asking price in 2018 further evidences what is happening in this price bracket.

As does news of price cuts to high end property developments in Dublin and Wicklow (Even though media in this State seem intent on promoting the fallacy that prices are and will continue to rise despite all evidence to the contrary.)

All evidence supports the point I have made. Your handle suggests that you may be involved in the buying process. Whether or not this is the case transparency is key to buyer confidence. Highlighting price rises while hiding price cuts (as agents and portals do as a matter of course) and dismissing evidence of price falls erodes buyer confidence.


#15

I suspect the amount of properties being sold by the council or included in the Affordable House scheme are close to zero in areas like this. Apart from transfer between parties within a family I struggle to see how many others could fall into this bracket, so on balance it is probably fair to assume if the PPR indicates the sale as being ‘Full Market Price’ then it actually was (of course there will be outliers but as in any statistical analysis outliers are generally discarded).


#17

@buyersagent - Again you provide no evidence of your claims and now dispute the validity of the PPR which clearly shows another property on this street selling for 28% less than its 2018 asking price.

Glenveagh would not be publicising price cuts to its high end developments if demand at this level had not collapsed.

@Spectator1 So you have nothing to add except to make false and unsubstantiated claims questioning my integrity? That is proof positive that you have lost the argument here. This site is to discuss property prices, nothing more. I you wish to continue in this vein I will make a complaint to the site administrator.

Isn’t it depressing how evidence of property price falls is dismissed - and the messenger’s integrity and motives are questioned.


#18

There is probably no one here who would like prices to drop more than myself but apart from some limited ones at the higher end (i.e. outside of 95% of the whole buying market) it is fair to say prices have risen in 2020.


#19

That is not the case. House price inflation from 2010 to 2019 is known (cso.ie), therefore we can calculate the figure this house would likely have achieved in 2019. We can also then calculate property price inflation (or deflation) from 2019 to 2020 by comparing the price actually achieved in 2020 with what is likely to have been achieved in 2019.


#21

The data I have brought forward is clear and shows very significant falls in the price of high end property in D4, -28% relative to asking price in 2018 for example. My motivation is to shed some light on something which the media in this State does not want to discuss.


#24

I have reported your post. You can expect the admin to be in touch regarding your false claims and personal attacks.

It is sad that you and others attempt to bully someone who has joined to make reasonable observations on the property market. But it perfectly illustrates the vested interests in the market which attempt to dismiss even PPR data and then bully and make false claims against the person making the post while claiming I have “disparaged” others - I have only discussed house prices you made false personal attacks against me. I have not presented any misleading information - I have discussed 3 repeat sales on 1 street. Another poster claimed one of those was an interfamily transfer - without proof. Regarding the other sales they could only suggest, again with no evidence whatsoever, that the PPR was incorrect.

Please do not make any further false claims regarding my entirely legitimate comments.


#25

Please see my post below in reply to your friend.

Nothing I have posted has been debunked. No evidence has been provided. It is you who insists on making false and unevidenced attacks regarding both myself and the PPR data I have presented.


#37

Buyersagent doesn’t claim to have information on the 1 sale, everyone does. Spend a fiver and look it up for yourself.

Summarizing the points made in this thread on the 3 properties you have mentioned:

  1. 38 St Alban’s - connected parties, not relevant
  2. 52 St Alban’s - a 17% increase since 2011 is not insignificant given the market bottomed out in 2013
  3. 82 St Alban’s - a closed sale below asking price is again not relevant to dropping prices

Beyond anything, take a sample of 3 properties is a poor way to gauge an entire market. Best of luck buying your bargain house, seems like now is the right time…


#39

A closed sale [28%] below asking price [commonly achieved in 2018] is not relevant!!

A 17% increase since 2011 is not insignificant given the market bottomed out in 2013!! I’ve some Math for you ->

Calculate the difference between 2011 and 2019 prices in D4. Then you’ll be able to work out how the price has changed since 2019 for this property!


#43

I believe St Albans is prone to flood. I heard first hand from an estate agent in the area that homes here take time to sell because of this. Since insurance companies started using flood maps and similar tools, obtaining flood cover on houses here is near impossible. Most banks won’t allow drawdown without home insurance covering all perils in place. So that just leaves cash buyers. I sold up in sandymount and decided to move away for just this reason (despite loving the area). All it takes is one major flood event there for house prices to dip even further.