Sudden price drops following the budget

Looks like sellers have decided to drop their prices further following the budget yesterday. Dublin only - I got one of my team to record changes, I couldn’t get her to do the whole country, it’s tedious. Google cache pages may be available for some of these but I don’t have time to search.

26 price drops on myhome in the past 8 hours:

Address: 10 Westway Park, Blanchardstown, Dublin 1
Area: Blanchardstown
Old Price: 320000
New Price: 315000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=279072

Address: 33 Clogher Road, Crumlin, Dublin 12
Area: Crumlin
Old Price: 381000
New Price: 370000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=287773

Address: Glenalua, Cunningham Road
Area: Dalkey
Old Price: 1750000
New Price: 1590000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=286065

Address: 74 Curlew Road, Drimnagh, Dublin 12
Area: Drimnagh
Old Price: 381000
New Price: 370000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=291891

Address: 31 Glasnevin Woods, Glasnevin , Dublin 1
Area: Glasnevin
Old Price: 410000
New Price: 398000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=295322

Address: 172 Ballymun Road, Glasnevin, Dublin
Area: Glasnevin
Old Price: 650000
New Price: 600000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=287314

Address: 24 Rosedale, Tyrconnell Street
Area: Inchicore
Old Price: 365000
New Price: 355000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=277854

Address: Apt. 18 Cammock, Mount Brown, Dublin 8
Area: Kilmainham
Old Price: 290000
New Price: 275000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=285532

Address: 64A Devenish Road, Kimmage, Dublin 12
Area: Kimmage
Old Price: 450000
New Price: 440000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=288927

Address: 6 Foxborough Manor, Lucan
Area: Lucan
Old Price: 410000
New Price: 395000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=293120

Address: 78 Rosewood Grove, Lucan
Area: Lucan
Old Price: 340000
New Price: 335000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=277474

Address: 40 Foxborough Road, Lucan, Co. Dublin
Area: Lucan
Old Price: 390000
New Price: 380000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=277406

Address: 1 Muckross Green, Perrystown, Dublin 12
Area: Perrystown
Old Price: 635000
New Price: 600000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=294202

Address: 48 Tayleurs Point, Rush
Area: Rush
Old Price: 315000
New Price: 308000
Date Reduced: 07/12/2006
Link: myhome.ie/search/property.asp?id=297075

Address: 51 Temple Court, Santry, Dublin
Area: Santry
Old Price: 355000
New Price: 345000
Date Reduced: 07/12/2006
Link: myhome.ie/search/property.asp?id=293387

Address: Apt. 6, Court Apartments
Area: South City Centre
Old Price: 750000
New Price: 680000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=295409

Address: Apt. 15 St. James’s Court
Area: South City Centre
Old Price: 340000
New Price: 330000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=293546

Address: 15 Allen Park Drive, Stillorgan
Area: Stillorgan
Old Price: 890000
New Price: 840000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=286559

Address: 55 Limekiln Green, Walkinstown, Dublin 12
Area: Walkinstown
Old Price: 385000
New Price: 375000
Date Reduced: 08/12/2006
Link: myhome.ie/search/property.asp?id=282751

Hah.

Was actually in Tayleurs Point there the other week.

It’s not too bad and there is one or two really nice developments out there, close to the sea obviously.

Rush downsides… Crap roads but could be worse… Crazy local population. :stuck_out_tongue:

Yep - Rush isn’t too bad at all - the crazy local population is an upside :slight_smile:

were the people who dropped their prices BEFORE the budget and dropped enough to actually SELL the real smart ones

Interesting find and predicted by many. Wonder how comical Austin will spin this one. These sellers at least have some financial nous and they will be some of the fortunate ones who dropped immediately after Biffo didn’t make the same mistake as he did two years ago

A couple of those are very interesting.

Address: Apt. 6, Court Apartments
Area: South City Centre
Old Price: 750000
New Price: 680000
Link: myhome.ie/search/property.asp?id=295409

Looks like a really nice pad, but wow, 10% is a huge drop in price. Reflects the vulnerability of apartments in general IMO.

And given this is D2 and a more mature development, it doesn’t auger well for newer apartments in crappier parts of town (although, admittedly, €680,000 is still upper end of most apartment developments so this one isn’t necessarily in the same marketplace as them).

On which note, this one reflects the same apartment trend:

Address: Apt. 15 St. James’s Court
Area: South City Centre
Old Price: 340000
New Price: 330000
Link: myhome.ie/search/property.asp?id=293546

What’s also interesting about this one is that there are 3 2 beds for sale in this development, priced at €330,000/€360,000/€370,000. That range may reflect floor levels or a southern aspect or whatever, but a €40,000 difference in similar properties beside one another is still incongruous looking.

Finally, this one in Drimnagh:

Address: 74 Curlew Road, Drimnagh, Dublin 12
Area: Drimnagh
Old Price: 381000
New Price: 370000
Link: myhome.ie/search/property.asp?id=291891

Two points:

  1. There is a huge amount of investment property in Drimnagh - places exactly like this. The spin was that Drimnagh was a great place to invest due to LUAS and proximity to town. Clearly though it is not bulletproof.

  2. Amazingly, this actually looks like reasonable value to me :open_mouth: . If it came down to 317, then that starts to look very “normal” indeed @ 5 x €60,000 (joint) income. At least it is in the carpark of the ballpark of value. (The long term carpark of course). And if this looks like value, it makes a nonsense of pokey 1/2 bed apartments at twice the price.

Check out the photos in the 370k Drimnagh link. It might be an nice place but it looks like they are selling a bunch of corners :laughing:

irishhousepricesfalling.blogspot.com/

Re the Drimnagh house: To paraphrase the Simpsons Q. “How do you get a picture of the inside of a house?” A. “We tape a bunch of corners together”

Re the Wilton Apt: It looks like they tried to squeeze Russborough House inside a pokey 592 sq ft apt! Ridiculous. That anyone would even consider that someone might pay Euro 750,000 for it shows that there are some truly deluded sellers out there (unless of course they were throwing in a Vermeer or two with carpets and curtains). :wink: Still a lot of steam to come out of the market.

Ridiculously expensive. For a 1 bed with only 55square metres.

One of your team ?

Nice find…Surprised the EA’s acted so fast but probably on instruction from Vendors. Apartments are looking shakey at the moment but with investors deserting the market they are notoriously vunerable to changes in sentiment.