WIW 5 Merton Park, South Circular Rd


On the market for 120k, but already has an offer of 130k. It’s a great location and a nice size, but it would cost at least 80k to renovate. Is it worth it at this price?

I wouldn’t say it’s a “great location” - but it is a decent location. And it’s small - about the size of a decent sized 2 bed apt.
This house isn’t really suitable for a family - too small, no off street parking, no proper garden, etc. Probably has the potential for small (<40 sq m) extension to rear. €80 - 100k should do a good job on renovations.
I’d guess it will sell for closer to 150k - will be interesting to see though

Offer of 160k already and still lots of interested parties according to EA

This is now at 166. 10 interested parties remaining. Depressing as hell.

Wow. Will go higher then. This seems to be a tactic of sellers (or EA’s) these days - advertise the property at a “low” price to garner interest. If you can get a few parties interested, bidding can get out of control. For example, if this property had been advertised at 180k, they probably wouldn’t have a bid of 166k on it already.
Similar story here, this property will obviously sell for much higher than 320k:
myhome.ie/residential/brochu … -6/2486804

Only if you are a buyer.

And there was me saying to my OH, “why didn’t they put this on at a higher asking price?” Your theory makes perfect sense. I am sorry I was sucked in by their ploy. Oh well, I’ll know for next time.

Guys, isn’t that just the way the market works? It’s worth whatever people are willing to pay?

Absolutely. It really annoys me when I see people on this forum blaming EA’s for increasing the asking prices on properties. The seller sets the price, and the market decides what to pay for it. Simple.
However, I do think certain properties are pitched at “low” prices (whether intentionally or not), and this does seem to increase interest. For example, if the seller of this particular property had set an asking price of 250k, there probably wouldn’t have been much interest - and it might not have received any bids. At 120k, it gets a lot of parties interested. You just need to get 2 interested parties, and bidding can get out of control. I think you’ll agree, this property was never going to sell for 120k!

For sure - it’s up to the buyer to set their limit, and you can expect the vendor to want to get as much out of a sale as possible, and to try any way (within legal limits) to get it. Obviously.

And yep, 120k is ambitious. I’d put this down for ~80/90k, probably the lower of the scale given the work required.

I meant 120k was way too low. Already has offer of 166k.

Lucky vendor!

Great location ? No.

Decent location ? V debatable.

Convenient location to town. Yes !

This house is located between donore avenue and clanbrassil st.

Fwiw etc etc.

Looking to scare off the other interested parties terof?

No not trying to scare anyone off. You are reading too much
into my post.

 Have not seen house, so can't add anything there. It is very close to town and in

that respect convenient.

However i do find it an oppressive area to walk through.

I know that is subjective and many place are like that but anyone looking at this place
should walk from wexford st or the green to this area. Walk dont drive. Get a sense of the place.

Only my 2 pence worth.

If there is any genuinely dodgy area in the vicinity of this house it would be located around St. Teresa’s Gardens; a walk in the other direction, passing through Blackpitts, New Street and Kevin Street shouldn’t pose a problem to a normal individual.

Anyone know what the latest is on this house? I’m curious to see how high it goes.

Was told the other day ( by Finegans) that there was an offer of 175K on it at that point… Could even be higher now… :sick:

192,000 now, according to EA.

it’s 217 now!