WIW: 31 Dundela Park, Sandycove/Dalkey, County Dublin

What this should go for today (and what it will ultimately go for when we bottom out). I’m less interested in this particular house, and more in the fact it is a house with the space to have potential extension, and is in a nice area near Dalkey/Sandycove.

myhome.ie/residential/brochu … in/1475691
€645K, 116sq mt, about €516/sq ft. (Was sale agreed at one point, doesn’t seem to be any more)
Huge garden though, and good room for expansion: photos.myhome.ie/media/1/9/6/147 … c5-2_l.jpg

I’d price it at 400/sq ft = €450K today, with another 20% off for €350K at the bottom.

Dundela park has always seemed like a nice family-friendly neighbourhood, equi-distant from Dalkey and Sandycove… Close-ish to the DART too.

:smiley: Just for context (and FWIW) and as I have posted previously (standard disclaimers applying, E&OE etc )

I was the underbidder on one of these closer to CP Road in late 1996. In post auction negotiations it was offered at £130K, I made a final offer of 122K ish but couldn’t bridge the gap. My recollection was that the 2 year period following was when inflation really kicked in.

Was mentioned on another thread here.

I went to see this house before it went Sale Agreed.

You’re right in that it has super potential to expand, and is also in a super location.
Needs a full refurb so the time to extend would be while this happens.

I’m sure this would/will sell for somewhere in the €500s.

Assuming the owner wants a total of 2000 sq ft / 185 sq m, that means adding a further 70 sq m at €1,500 per sq m - that’s €105k. Throw in €115k to refurb the existing 115 sq m and you’re at €220k. Could be done much more cheaply but when I suggested these figures in a discussion topic on build/refurb costs on the pin a few weeks ago, I got a lot of responses suggesting they are accurate enough. viewtopic.php?f=10&t=40362

€400 per sq ft seems way to high to me. Let’s call it €4000 per sq m (almost as much) and you get €800k value post-refurb and extension, bearing in mind it will no longer be the house but a much bigger one. With a 20% fall, this becomes €640k value for 200 sq m. But it’s east-facing so won’t command the best prices in the area, and I think the above €/sq ft figures are a little too generous.

Taking the refurb and extension costs into consideration, I can’t see the place fetching north of €500k myself.

I have to say I think 115k for a refurb seems steep to me!

Kitchen/bathrooms/carpets/floors/painting… sure Des Kelly will carpet three rooms for 300 quid!

Adding to your ‘to do’ list, I’d also be covering windows, insulation, internal & external doors, wiring and possibly heating.

But it’s all a question of what level of quality and finish that you want. I’m sure it could do be done for less than half the price. If you want a family saloon car you can drive away with something fairly new and very reliable for well under €10,000, or you can buy new for a serious multiple of that price.

As far as a house refurb goes, €1000 per square metre represents the quality end of the market but it’s not a CT luxury overspend either. It’s what I’d put into a house in this address.

It’s worth looking at that other topic link I put in above for a wide range of views on refurb & build costs, but perhaps most telling of all is when you start getting a builder or architect to come up with prices that reflect what you want.

Yeah, I think I saw that alright.
Also, I will admit to being a refurb-virgin. I’ve had work done on the house, but nothing on any scale. :slight_smile:

Not worth more than €400k.

£130,000 in 1996 = €238,000 today.

anthonykelly.com/inflation.html

I can corroborate your recollection too since my brother bought at around that price level (£115,000 if memory serves) in D6 at the same time and equivalent houses nowadays are also c. €600,000.

Even allowing for variables that might structurally increase values - population rises, differences in IR’s, higher wages etc. - that is one hell of a disparity between 1996 and 2011.

Agree that there appears to be a disparity. Not sure that it would appear all that significant if the other factors were taken into account.

Taking a potshot at higher wages for example, in one particular line of work I’ve been in, people with about 5 years’ experience were paid the equivalent of around £25k back in 1996 (about €45k inflation-adjusted today). But nowadays they would earn around €70k. That alone is 62.5% higher earnings for them.

I’m sure some sectors have risen more and some less than others. In one large firm where I worked in the late 90s, where we had a wide range of jobs ranging from unskilled labour to top management positions commanding 7-figure sums, we were seeing pay in many roles increase as fast as house prices - it was the only way we could attract and retail staff. Sure, pay has fallen since 2007 - but I’d be surprised if it’s fallen at the same right as house prices.

Of course, that’s anecdotal. Anyone who can find reliable statistics might be able to further enlighten us. The only stuff I could find on CSO didn’t span a sufficiently long time period at either end.

Sold for €570k