Failed at Auction in 2006, quoting 7.5 Million
archives.tcm.ie/businesspost/200 … y17584.asp
Now 5 Million
myhome.ie/residential/search … SLHO345551
I would compare this with 62 Ailesbury Road which was finalised in jan 2013 via a bank sale.
Almost same size site and north facing garden and both in poor internal condition.
62 Ailesbury was detached and 3,175 sq ft vs. Santa Anna semi-d and 2,359 sq ft (35% bigger).
62 Ailesbury is on the ‘real’ Ailesbury road.
62 Ailesbury does not have a busy train line beside it.
There are quite a few houses being offered privately in D4 (banks are laden with them).
I think on-market houses like this (plus others in area) are used to set a marker to support private sale pricing?
Hi observer, you seem be well versed in the property game(possibly doing it for a living?), what would be the advantage for a bank selling a D4 property off market?
I would have thought that unlike a regular vendor who might value not having the neighbours nosying around, the bank would be looking for the maximum price. Presumably there is still an estate agent involved getting a cut - maybe even a larger cut for the private sale.
Hi lombardox
Used to invest but no more, still interested however and go to auctions.
A lot of upper-end houses used to be auctioned, I don’t think that seems to be the case now.
I do know of a decent amount of bank stock that has yet to come to market.
I think the banks are afraid, understandably, to put too much on at one time.
However I could be jumping ahead of myself here.
Interesting. So if your conclusions are correct the banks are selling off market (and not getting top dollar) where possible to avoid the risk of increased supply driving down prices. Doesn’t say a whole lot for their confidence in the market. Separately the number of 1m+ houses advertised on myhome has been creeping up over the last month or two (currently 186 up from 149 in the last month). I wonder will we see some drops in that bracket to get these away before the silly season kicks in.
You are right, Lombardox, the number of +1 million has gone up a bit (from a low level in 2012) – anyone know what % of new listings are bank-owned or bank-encouraged sales? I cannot tell from the adverts.
Back on the market.
Trying to get offers of up to 1.8m but no joy so far.
The train aspect is intimidating plus it is not a particularly pretty house.
I remember when it was put for +7m pre crash, but nobody took that figure seriously and it failed.
€741 per sq/ft for (ok, the less desirable side of) Ailesbury Road.
Nice benchmark to have.
I’m not so sure that benchmark is valid here as this one was all about the garden - which was pretty big by the standards of D4 (c. 0.33-0.35 acre), although it did have a DART running all alongside it (and a DART station, which means more noise from braking).
The train issue is probably one of those things that make it impossible for some but the garden is large for this part of the world.