WIW 44 Garville Avenue, Rathgar, Dublin 6

any one care to put a value on this property - given that it will be a significant project and take around 300k to turn into a comfortable home.

myhome.ie/residential/brochu … -6/1780736

If it needs 300,000 I would say you would want to be bidding at 500,000 or less. 800k will get you something pretty nice around the corner on Brighton road or Brighton square. This is a lovely house with great features and good height in the basement. Garden is ok but quite overlooked by the return extension next door and north facing.

300k seems excessive. No mention of structural problems and it’s not in bad nick.

I have talked briefly to a QS about what I would like to do e.g. open up the basement to create a large kitchen diner - structural work involved there, reinstatement of the staircase, removing existing floors (currently at different levels), damp proofing, insulation, new French doors to the garden, making the garden room accessible from the house, new kitchen, new bathrooms (possibly making one of the bedrooms a bathroom as they are very pokey for a large house, decoration, refurbishment of existing windows, elecs and heating throughout - I haven’t had anyone check the roof but I’m taking that will need to be done too.
Also the rear garden needs alot of work including reinstatement of the access to the rear and possible a carport
I have also included a small contingency for unknown works like small pockets of rot etc. So i think 300k isn’t too far off the mark for doing it right … :question:

I agree that €300k is a fair estimate for renovating to a good standard of finish.

I think €600k should be the upper limit paid, putting the finished project at around or a little under €300 per square foot.

I guess 300k is about right, 100 euros renovation cost per sq foot for a protected building.

nice house around the corner fully finished with a great back garden is offered at 875k, you’d imagine they’d take 800,000 so I’m not sure why you would pay much above 500k for this with a north facing garden.
myhome.ie/residential/brochu … -6/1761252

If you are going to be spending 300k on a refurbish i am presuming it will be of a very high standard,i think a major selling point for the house is the front room on the midle floor, as there is porch enterance to the side this allows the room be the full with of the house with 2 windows, a great size with high ceilings overlooking the front garden and garville ave.

I don’t think the house on brighten square would be worth near the value of this after 300k renovation, I think the one on brighton needs a few quid spent on it too.

I would say the house after a 300k renovation would be worth €1.1m, alowing for the 300k and at least an other 100k for the hassle of having to do it I would say it’s worth 700k in it’s codition now,

P.s I hope the redering to the front over what would have been a nice brown brick facade is not hiding a few skeltons

sale agreed within a month of going on the market.
can only assume it rattled the asking of 800K.

myhome.ie/1780736

That’s another shocker - so it’s likely to come in at over €1m after renovation.

I’ve been estimating prices on the high side lately on account of the competitive scramble for decent houses, and thought I was being a bit toppy calling €600k for this one. How wrong I was. I’ll have to start revising my estimates upwards. :frowning:

Now, now be careful you might be accused of talking up the market :slight_smile:

I think the price was a bit expensive myself.

However historical evidence suggests that the high end of the market is the first to show signs of recovery after a property crash.

can you quote a reference for your assertion that the high end will be the first to recover?

It is beside several multi-tenant houses. It has no off-street parking and no option to have such in the future. So on-street parking will be difficult. While structurally sound, the house does need quite a bit spent on it: poor garden level layout and unfinished construction work that would need substantial rework to make it into the traditional downstairs large family kitchen. It needs replumbing (the current plumbing is a complete mess), new heating, rewiring and other work such as windows, kitchen, replastering and so on. The hall is a potentially very attractive feature. The small extension to the back beside the current first floor kitchen that provides a small terrace and stairs to the ground level is very unattractive: unsympathetic brickwork and just ugly. However, tearing it down would be expensive. The north facing garden is quite overlooked.

It ceertainly has the makings of a fine house but it will still be beside a bunch of flats over which you have no control. The adjacent house uses its larger back garden for parking by its tenants with all the noise and smell this would entail. Garville Avenue still has a high proportion of houses in flats that makes it less attractive in my view.

You could probably get away with spending 250,000 on the rebuilding/renovation work.

Until the advent of the property database, speculation on how much it sold for is pointless, unless someone has inside knowledge. The quick sale probably indicates a single strong cash bidder able to complete quickly and a vendor who wants to sell. It was an executor sale which can make the sale go more quickly as the difference between two similar bids divided N ways is quite small. Better a quick cash sale than having the house lingering unsold for months.

But good luck to the buyer. I hope they get the house of their dreams.

it does have rear access available to it

If this sold close to 800k then I clearly and lots of people on The Pin do not understand what is happening in the property market right now for large family homes in SCD. I know one estate agent that is working crazy hours these days as they can not keep up with demand, Bank of Ireland mortgage applications are up massively and I am seeing big viewing numbers any time we go to an open viewing. It seems to me that there really is a dead cat bounce going on, people are buying into the fact that we have had no new bad news to scare us. It seems like the precarious state of the public finances has been forgotten and the coming taxes are not being factored in.
To me it all feels a little 2006

Landlord is correct to suggest that the high end recovers first. However to me this doesn’t look like the high end - but one rung on the ladder below that - I.e. the 500 - 800 band.
Hence whether it can technically be regarded as a leading indicator I am not sure.

As discussed previously it is probably just a perceived standard of house falling into the price range of a certain group who had previously been priced out.

i think it is correct to say that the high end would fall the most ~80%

I know that major urban areas are the first to recover - look at Helsinki/Finland in late 1980s/1990s
Major cities in Japan flat lined after >5 years of major falling in property
the overall property falls in Japan continued for 13-14 years

still dont see any reference to high end properties - have they all correct by 80%??

Sorry to be off the point, but @johnnyone234, can you point me in the direction of your information re Finland/Japan? I am looking for information regarding other boom to bust cycles to see % falls, timelines etc but I google is not really helping me!

type ECB boom bust or IMF boom bust
OECD have a good papers too

ECB ecb.int/pub/pdf/scpwps/ecbwp1071.pdf
IMF imf.org/external/pubs/ft/wp/2011/wp11231.pdf
thing japan was discuss under the DMW thread
finland
ymparisto.fi/download.asp?contentid=11760

Sorry johnnyone234 - what I meant is that the high end properties bottom out first - I suspect thats what landlord meant as well. I don’t think any one is talking about them regaining peak prices.

Unfortunately can’t point you to a reference but have read peer reviewed studies that show that the high end does bottom and start to increase in price first.

If you think about it logically employment is a lagging indicator in recoveries, stock values and profits are leading indicators - so the high end will benefit first from a recovery.

Sale unagreed and back on at the previous asking price of 795,000.

sherryfitz.ie/resi/buy/6-bed … &ST=1&pc=1

Anyone got any insight?