A lot of talk about the market firming up, but in this area any houses I’ve seen sell recently are going for not much more than they did this time last year…when I say not much more, I mean 5% more …
Which is why this one is a curiosity.
48 Iona Villas sold this time last year for €410k. It was a five bedroom house with the garage developed into living space, and extra bedroom added upstairs over the garage. It was in reasonaly good nick, for example new UPVC windows. Also, southfacing.
47 Iona Villas is now on the market…its the ‘other half’ of the semi-d. Its smaller…4 bedrooms. The garage hasnt been converted though there is an extension out back.
Havent seen it yet, but clearly the place needs a lot done to it to get it to modern acceptable standards. I would guess a €100k upgrade minimum…new windows, new insulation, new GFCH, new kitchen, walls knocked down…all the usual.
It does have a larger garden, but vis-a-vis its neighbour, 47 is a smaller house and condition not nearly so good.
Asking price…€575k. 48 sold 12 months ago for €410k. Has the market really picked up by 40%?
The last house that sold in this estate was a 3 bed for €325k, and that was south facing with a decent garden.
Prime number might be a draw? it’s a clear benefit of 47 over 48.
But seriously, I’d looked at that house online too, but couldn’t see why it was asking so much. This house on Lindsay Road is asking 10k less, but would normally trade at a premium to the Villas. myhome.ie/residential/brochu … -9/1614050
So my non-expert opinion is that they’ve over-done it with the asking, and I don’t expect them to achieve (or else lots of other people are way under with their askings). Then again, market is a bit mad so who knows, they only need one greater fool to make it happen (or preferably 2 to bid against each other).
I seem to recall that the house next door had a €600k asking price before eventually selling for €410k.
Its a pain for buyers…if the seller thinks it will get that much, then you have to go through the whole rigmarole of “we think its worth this much…its not…we think it is …its not…we think it is…its not…” and a house that should sell in two months instead takes six months to sell.
Perhaps the value is that the number is so far relatively insignificant… “room for the owner to put their own stamp on a prime numerology asset, with ample scope for workings both in the ritual and chaotic traditions”.
Assuming that it needs €100k in work, I think an offer €150k below asking price would be the only way to make it anything like feasible.
Is there a back garden at all, or just a side garden?
One thing that is good is that the stock on Dublin 9 seems to be improving a little bit over the past 6 months. The expensive houses are taking a while to shift, but there is a bit more turnover, which I guess is good for buyers and sellers.