Whats going on in Navan pricewise?

[gurramok]

I’ve noticed alot of discrepancy in pricing especially for 3beds, all houses in the following piece!

Athlumney has spanking new 3beds at 240k dropped from 285k.
daft.ie/searchsale.daft?id=325499&search=1

Is this a case of developers getting ahead of the posse?

Then we have houses 2nd hand built during the boom coming in at a range 285k to 330k in some cases for a 3bed with discrepancy even there in prices for 3bed/4beds

The prices are all over the place even for 2nd hand boom buillt houses.
4beds at 300k in Johnstown undercutting 3beds trying to fetch same price or more.

Example 3bed search
3bed

4bed search
4bed

Note the massive range in 4bed prices, with the 300k ones on the Dublin side of Navan for that commuter advantage.

And also to note, a 2bed hse in Johnstown was selling for 120k and a 3bed hse for 150k in late 2002, i know as i was researching the area back then so some sellers can undercut others and slaughter them to get that sale.

[kerrynorth]

@gurramok

I’ve noticed alot of discrepancy in pricing especially for 3beds, all houses in the following piece!

Athlumney has spanking new 3beds at 240k dropped from 285k.
daft.ie/searchsale.daft?id=325499&search=1

Is this a case of developers getting ahead of the posse?

Then we have houses 2nd hand built during the boom coming in at a range 285k to 330k in some cases for a 3bed with discrepancy even there in prices for 3bed/4beds

The prices are all over the place even for 2nd hand boom buillt houses.
4beds at 300k in Johnstown undercutting 3beds trying to fetch same price or more.

Example 3bed search
3bed

4bed search
4bed

Note the massive range in 4bed prices, with the 300k ones on the Dublin side of Navan for that commuter advantage.

And also to note, a 2bed hse in Johnstown was selling for 120k and a 3bed hse for 150k in late 2002, i know as i was researching the area back then so some sellers can undercut others and slaughter them to get that sale.

I think it reflects the far greater ability of the developers to take a hit on price than individuals. If they bought the land a number of years ago they can easily take the hit on price and still come out ahead. Wheras the individuals who bought at bubble prices in the last few years cannot compete pricewise unless they are willing and able to take the hit and walk away.

[yoganmahew]

@kerrynorth

I think it reflects the far greater ability of the developers to take a hit on price than individuals. If they bought the land a number of years ago they can easily take the hit on price and still come out ahead. Wheras the individuals who bought at bubble prices in the last few years cannot compete pricewise unless they are willing and able to take the hit and walk away.

It depends, I suppose, on whether the developer has bought more land at current prices - the cost of houses built on a piece of land doesn’t reflect what the land was bought for, but rather where land prices are currently. Any developer smart enough not to buy in the last few years has an advantage over a developer who has hocked his future into current land prices.

[Alan_Dick]

Tell me about it. I live in Navan - on the northside of the town - there are a lot of houses for sale in my estate. They would have fetched 317k two years ago. Not sure what they’d make now.
Sure Podge and Rodge had a spoof advert for Power City on their show a few weeks ago. “Buy a hoover in Power City and get a free three bedroom house in Navan”. Says it all really

[The_Unwelcome_Guest]

I think the only solution for Dublin North might be a tactical nuclear strike on Balbriggan, no idea what’s going to happen to Navan, Ashbourne, Trim, Dunshauglin, Duleek, etc except that the only way is down.