Hey all, been lurking around for a while unreg… would like to get opinions on what users feel a 4 bed semi and also a 4 bed detached house in Templeogue is “worth” i.e. what will its price be once the market has reached stability. Talking about houses with decent size , in good condition and desireable areas (beside schools etc)… cheers!
Find similar houses that are for rent.
Take the monthly rent and multiply it by 12 to give you the annual rent.
Multiply this annual rent x 14 to give you the value of the property that would make it a worthwhile investment.
That is what it is “”““worth””“”.
You need to be more specific. Templeogue is quite big. It covers parts of Tallaght, Knocklyon, Templeogue village, and other areas.
Hey lads - I’m talking about houses in ‘central’ templeogue, not periphery. Areas like cypress grove road, templeville rd.
The rental mechanism of valuation would indicate:
Templeogue 4 bed Detach 260k
Templeogue 4 bed semi detach 235k
But this would (to my mind) imply that:
Firhouse 3 bed semi 120-150k
Apartment in city west 35-50k
Out of Dublin…very very little
Dos this not seem unrealistic???
Cheers for replies
Those prices may seem ludicrously low, but when you consider the basket case of an economy we have, they may not be that unrealistic at all, going forward.
Why would it imply those prices for firhouse and city west?
Your post implies that you can find an apartment to rent in CityWest for 208 euro a month? Or a 3 bed in Firhouse for 715 a month?
I think ultimately a 3 bed semi in Firhouse (Monalea, Carrigwood, Kilkee, etc, etc) will fall under 200K alright.
Gaffs on Cypress Grove Road etc for under 300K? Why not? Those houses were asking less than £300K back in 2000. It’s not that long ago, and it’s where we are headed.
…when you consider a Firhouse 3 bed semi detached rents for the same as a 2 bed citywest apartment the rental method of predicting worth doesn’t really hold up
What method would you suggest?
Here is comes hahaha…
I’d multiply my waist size by my shoe size and multiply it by the number of responses this post gets…
Seriously though, I’m not sure there is an easy calculator to determine value. What I do know is that house prices appear to have dropped (in areas I have been looking) over 50% from peak…
Well here’s another valuation method. All asset bubbles unravel entirely. The Irish property bubble started in 1998 (possibly earlier).
So prices are going to go back to where they came from, allowing for some normal inflation levels.
Houses in the areas you are talking about (Templeville, Cypress Grove, etc.) were all well well south of 300K in 1998.
I dare say economic times were a lot better in 1998 than they are now, so fuck knows how today’s terrible economic climate will ultimately affect pricing in that area.
How is that for a valuation method?
They seem unrealistically HIGH to me . . . .
Fair enough…Doesn’t supply and demand factor too- drive around templeogue and nearly all houses are sale agreed/ sold, and some of the the ones with for sale signs still up are also sale agreed!
There’s ample supply, there are literally thousands of houses in Templeogue.
I think the areas of Templeogue you mention will be a bloodbath over the next two or three years.
Sold is one thing as in the property has been purchased but sale agreed means nothing at all absolutely nothing until followed by SOLD so I would temper my thought s with this in mind the next time you drive around Templeogue.
The idea a house in areas discussed being 260 could be an 80% drop from peak- I haven’t heard predictions like this from anyone …
Also, how are houses being purchased currently as valuations have to be conducted to get a mortgage…surley these valuers would have to say the house is worth less than purchased and the mortgage application would fail???
Professor Morgan Kelly made predictions that property prices could/would fall by up to 80%, you know the guy who advised on Future Shock where we where shown as a nation of naked swimmers when the tide went out. We are not there yet but who knows where we will end up with the destruction of jobs,wealth (as in wasted money buying too expensive properties) etc etc.
I dont think Mystic Meg could predict where there country will be in a few years time except deeper in the shitter.
I used to be a 50% man but now I’m 100% in the 75-80% camp. Lop half off the advertised price of every house in D6W advertised on myhome.ie to get its true value. Out of the first 10 pages listed I can’t see a single example where this doesn’t apply. (Some may even need a bit more.)
Er, the same estate agents and valuers are used by the banks as are used by vendors.
The bank don’t employ their own team of independent valuers, they will get a local Estate Agent to do the valuing for them.
In a lot of cases, it’s actually the same agent who’s selling the property.
As pointed by another poster what you are saying here isn’t really happening. When I sold my house I knew for fact that the purchasers had only 10% deposit. I would not have bought my house at that time for the money that I sold it, neither would have the majority of people in the country. But the valuer came, saw, and approved, and lo and behold the sale went through. If the valuers were being prudent enough there would be close to no mortgages being approved at all. And there is a few obviously, not as many as during the boom but not a tiny amount either.