WIW - 22 The Crescent, Rockfield, Church Road, Blackrock

myhome.ie/residential/brochure/22-the-crescent-rockfield-church-road-blackrock-co-cork/423833
Any Ideas on what this is worth please?

I wouldn’t pay more than €150k for it.

In relation to what it IS worth right now then I estimate that the seller is likely to get a buyer either with funds of their own or funds approved from a bank or othe source (e.g. parents, deceased relative etc.) to a value of about 250,000 or so for the property without too much bother at all and probably a bit more too (up to around 270K).

Let’s say that it could and did sell for the 270K. Then I don’t expect that the value will hold over the coming years. I foresee 5 more years of decreasing magnitude ongoing reductions in prices through until 2016. I had been hopeful that we could have been back on the road to common sense but FF and Grees and the Indos, the senior Civil Servants and the bankers seem to have done enough damage and the new government seems to be continuing to play the game thus far.

So that’s 20 years of stupidity in Ireland from 1996 through to 2016 and I’m becoming an old man in amongst all of that while my personal dream of having a detached proper size house is being destroyed.
(/End of rant)

Anyhow, by 2016 the value will then be down to about 180K or so (if we’re even still in the Euro at that stage).

Don’t buy just now, keep renting.

In the year ahead if you can rent for about 12K then based on this house you won’t be loosing anything. Renting makes you Money!

it will sell for around 250k, whats its worth is an entirely different thing.

in the examiner this morning there is a similar house in Fernwood (top of the Sarsfield road just beyond the funerlal home)1200 sq feet 4 bed semi
myhome.ie/residential/brochu … ty/1273659

for €210k ok its the other side of the city but has the CUH, CIT and at a push UCC relatively close

IMO the blackrock house is a far better location than fernwoood

I wouldn’t pay 250k for the blackrock house but I feel it will make that price.

I don’t know Cork at all, but I’m of the opinion that you can go ahead and buy that semiD house right now for 350k or you can wait a few years and get the other half as well for the same 350k.

I may be wrong, but that’s my tuppance worth.

Also the garden looks to be in total darkness, with the sun shining on the front of the house.
If the garden is north or east facing, the kitchen will be cold and dark most of the day, you will only get sun in the garden for a short time depending.

myhome.ie/residential/brochure/22-woodvale-road-beaumont-blackrock-cork/345269

for comparitive purposes…which looks better value?

Roughly same location, one a 3 bed , the rockfield one a 4 bed?

Thanks for all the replies…beginning to think it might prove more prudent to hold off for a year or two!!!

Easily the most frustrating desicision ever…

Just for the sake of comparison, both of these ones in Bishopstown are asking 5K more than the original one you mentioned
daft.ie/searchsale.daft?id=583366
daft.ie/searchsale.daft?id=481352

Of the two, I would prefer the one on Firgrove Lawn but I would be very wary of the potential subsidence issues in this area due to the limestone bedrock.

Not really . The country is under the control of the IMF and the EU . The banks are are even more fucked than could ever have been imagined . A weak FG leader is now in charge and with a strong mandate ( the guy is breathless everytime that he is interviewed ) The Euro is on the verge of collapse and the oil rich Middle East is now into a revolution a day .

Irish property is in suspended animation . Nobody is marking to market as they are hoping that they can ride out the storm and wait for some kind of recovery .

There is simply not enough money to back up this fiction . Wait until things get really bad before you buy a house . And not that house as it looks tiny and as a new or even newish build it will have been built to poor standards .

Seriously lad! You’re not even trying!

Sweet Jesus - a quick search for 4 bed semis in Blackrock/Ballintemple/Ballinlough gives:

daft.ie/1576381
18 Skehard Lawn, Blackrock, Cork City Suburbs
€255,000
Semi-Detached House
4 Bedrooms, 2 Bathrooms

daft.ie/1542633
73A Gate Lodge, Blackrock, Cork City Suburbs
€245,000
Semi-Detached House
4 Bedrooms, 3 Bathrooms

daft.ie/1470499
76, Gate Lodge, Castle Road, Blackrock, Cork City Suburbs
€260,000
Semi-Detached House
4 Bedrooms, 2 Bathrooms

daft.ie/1454167 - (My personal Favourite - offer €200K)
20 Clanrickarde Estate, Boreenmanna Rd, Ballinlough, Cork City Centre
€245,000
Semi-Detached House
4 Bedrooms, 2 Bathrooms

And a project for the ambitious:

daft.ie/1575301
No. 2 Allevard, Blackrock, Cork City Suburbs
€280,000
Semi-Detached House
6 Bedrooms, 3 Bathrooms

The only justification for the value on some of the houses in the Blackrock/Mahon area was the bridge that was going to be built, linking up both sides of the river - but that’s never being built.

Much better value out there already - the original house will probably sell for €150K in 4 years.

What goes up,

The properties mentioned by you above are not really comparable due to the difference in location…There is a big difference between Blackrock and Mahon area! Take it as local knowledge…Believe you me i’ve seen every property of note in this area for the past 2yrs…including the one in Clanrickarde which is posibly the biggest pile of crap i’ve ever seen…

the ambitious project you refer to would in all probability cost in the region of 250k…obviously not first time buyer property

As for your contention it’ll be worth 150k,thats debatable…time i will tell i suppose… my view is that, when inflation is taken into consideration, it wont go that far. But nobody really knows whats ahead

and the bridge that was supposed to be built but never built…there is the small matter of the Jack Lynch tunnel,put in place some years ago.

inflation eh :laughing: This is 2011, food, energy & essentials will inflate in price, cars & property will deflate, with the exception of agri land IMO

Also, your abilty to service that debt will be harder as you pay more for essentials :wink:

The justifications that exist in your head for buying this house are no longer valid, keep your money, rent & enjoy the ride, it’ll be an intersting one 8DD

Fair enough.

I didn’t realise when you were asking what it’s worth that you were really asking what it’s worth irrespective of the rest of the houses on the market.

For someone who claims to have the local knowledge, the fact that you seem to be ignorant of the proposed bridge between the marina and the Lower Road would make it appear that there may be gaps in that vast local knowledge of yours:
peoplesrepublicofcork.com/fo … p?t=158123

The Atlantic Quarter Development was supposed to transform the Marina:
boards.ie/vbulletin/showthre … 2055566557

But it’s stuck in limbo - and frankly never going to happen now:
irelandafternama.wordpress.com/2 … docklands/

As for there being a huge difference between Blackrock and Mahon - true, but you don’t seem to understand that the market is the market. Blackrock isn’t going to somehow magically retain astronomical prices just because* it’s different*!

The key to keeping value in Blackrock isn’t buying a new Wendy house - but buying into one of the old estates, near one of the good schools and bringing the house up to a modern standard. Most of the people selling in the older estates will have their mortgage paid off years ago and be much more amenable to getting a good price for it - as opposed to a Celtic Tiger Canny who so underwater they have to get “what it’s worth”.

Anyways - good luck with your house hunting and your local knowledge - you obviously have all the answers and should have no problems.

prices in the areas i mentioned above were always higher than the example you mentioned so my question as to whats it worth was in consideration of all the properties currently on sale in the general area. There was, is and always will be a price differential between Blackrock and Mahon. To see that you’re actively comparing them would suggest you’re not from Cork and you dont know the area at all.

Eh if you look at the dates of these post you’ll notice they are from 2009…

Property prices in blackrock were already high well before any birdge was ever considered so your point doesn’t make any sense.

Prices in blackrock have in general gone down between 35% and 50% depending on the location…so clearly the market is dictating that. as previoulsy stated Mahon is and bears no comparison whatsoever, even at the height of the ‘boom’ it wasn’t a desirable location to live You’ve obviously never been…

Rockfield was built in 1991 predating the construction of ‘Wendy houses’ The other house i mentioned is exactly what you refer to in terms of being in a mature area with schools etc…

The vendors of both properties would be in the position of having their mortgages paid.

I do have alot of research done, with a bit more to do. I’m thankful for all the insightful advice form people who have posted replies but i have to challenge fundamentally flawed comparisons and sweeping statements regarding the role of bridges in boosting property prices. :unamused:

WaryFTB I have already asked you once to put the full address of property you are enquiring “What’s it worth?” in the title of the thread. Please do so in future or the threads will be deleted.

For somebody who is seeking info on the market - you come across as someone who already has a vested interest - almost as if you’ve bought already.

The place you linked to is an average semi-d in an average part of Blackrock - some places in Mahon would actually be a lot nicer.

Good luck selling… ooooops! I mean buying into the average dream.

Hahaa…you do a nice line in comedy my friend :smiley: I can try get you a gig in the Opera House…Clearly advice on property isn’t your forte!

Thanks though. Really.

You’re welcome!

Hope the house works out and that you aren’t forced into the dreadful plight of having to slum it with the Hoi Polloi in outer Mahon.

Truly a fate worse than death.