For question (i) you can take your guidance from the ‘Usjes’s rule of thumb for valuing property in Dublin’ ™:
In Dublin => worth <= 1,000,000
North of the Liffey => worth <= 500,000
Outside the M50 => worth <= 250,000
So this one is worth about 500,000 being a mid-range Southside property.
As to what it will achieve, I can see it making the AMV purely due to its location (within pi$$ing distance of Blackrock College) and my assumption that there are still enough buyers out there with more money than sense.
Remember winning the lottery MIGHT make you a millionaire, if you were even to pay 500,000 that would be half your fortune gone before any refurbishment or extension. Only in Ireland. But as I say, I suspect there are still enough of our criminal (sorry I mean ‘professional’) classes who probably managed to squirrel enough of their ill-gotten gains away before the $hit hit the fan, so who knows.
This went for €990k at auction. Lots of people bidding well above the AMV, not just a battle between two bidders. All of the lurking buyers of SCD were there and there’s plenty of money around when the site and property warrant spending it.
(Note to the usual “only worth 500k brigade”: - keep it to yourself, the market has spoken for you.)
Thought so. Reflects what I have been hearing on the ground recently. This was never a €500k house. I thought around 880k would take it. Really is a home for life, partner type, place. Right side of BR, good schools etc.
Need 200k put in but, relative to 2006, huge value.
EDIT: Did any of the pinsters take it? Would be interested in someone putting a date in the diary for pints in Feb. 2013 around Blackrock!
Not surprised. There is still a lot of old money in those parts and supply for decent family homes isn’t exactly flooding onto the market. I still think that paying 990k was too much, and it will decline in value in a few years.
990k for the house and another 100k to modernise it. I’m not sure if this really makes sense but obviously it did to the bidders. If I had 1.1mm to spend on a house I think I could get a very good large period house for that. Each to his own though