Farmleigh Woods, Castleknock D15...a good place to stay?

questiongirl

Recently looked at properties at Farmleigh Woods. The compound is a nice spacious area with lots of greeneries and the apartment itself is very well built. The 2-bed apartment starts from E555,000.

We haven't decided to buy but adapt a 'wait & see' policy. people told us/speculate that the housing price might fall and we're hoping to get into it at the right time. we have been keeping an eye on the price for the last 9 mths and it's still the same whereas we notice houses around the vicinity (eg blanchardstown) has fallen in price. anyone know why? is it because houses at Castleknock hold the value?

Also, is Castleknock a nice area to stay in? in term of accesibility into town, transport, local amenities, security etc?
any thoughts and advice about staying at Farmleigh Woods, Castleknock?

Thanks!

DublinDilbert

E555,000 looks like very good value to me, some might even say a bargin

To be honest its probably over priced by about 300K. Castleknock is ok, but traffic can be a real problem as there road network hasn't be upgraded, although the population has grown significantly.

Have you compared prices to other developments?? you can buy a 2 bed in waterville new for €248K... there's also plenty of units in royal canal park / rathborne, these are much closer to town also...

The_Conductor

Castleknock is a prestigious area and does have very good services and amenities in its immediate vicinity (not least the Phoenix Park itself). As alluded to above- traffic can be an issue- it is serviced quite well by bus however. EUR550k is a lot of money to spend in the current market- particularly as lending criterion have been tightened considerably (you will need to have ~60k in savings.......)

If you really liked the property and could see yourself living there in 30 years time- then just maybe. In the current market its entirely possible that the property may on the market in 6-12 months time with another large discount to the price. Then again- its also possible that someone else might grab it- though the queues have obviously diminished significantly.........

I'd think and thread very carefully........

information

smccarrick wrote: »

particularly as lending criterion have been tightened considerably (you will need to have ~60k in savings.......)

you will need 110k deposit as banks are only lending up to 80% on new apartments, from what I heard.

If you head up whites gate to the park, there is a whole estate there that they haven't even started to sell.

The bus service is poor, the 37 and the odd 38, bit of a trek from farmliegh to the train station.
Traffic would be heavy from the end of whites road all teh way to the village and beyond, so you could leave the apartment and 10 minutes later but just outside the estate.

These were way overpriced from the start, and it looks like any other estate, although location beside the park is very good.

You should check out the development at the castleknock gate, better location and I'd say price would be about the same and there not shifting either, so there is room to negotiate.

questiongirl

Hi thanks all for yr replies! agreed that prices are high but we like castleknock area. we have looked at older houses around the area but they need renovation and stamp duty applies. thus we are looking at new developments which are somehow limited ( & comparatively expensive ) in castleknock. think we will 'wait & see ' for a while esp at this period of uncertainty in the property market:)

ZYX

If you need to commute to town then I would avoid Castleknock like the plague. I used to live there and traffic is horrendous in morning. You are a good walk from train station and even then train is usually packed. Village has very little there compared to most old villages. There is no real village centre just a petrol station and a few shops. Phoenix park is great but other than that it is an pretty awful place.

Victor

Note that Farmleigh users can use Whites Gate(?) to access the park and on to the city.

BostonB

Victor wrote: »

Note that Farmleigh users can use Whites Gate(?) to access the park and on to the city.

Thats a pedestrian only entrance AFAIK.

The_Conductor

BostonB wrote: »

Thats a pedestrian only entrance AFAIK.

Its also not a public right-of-way, despite the fact that its been left open for years- though I'd like to see the uproar if the OPW/Parks and Wildlife Service tried to close it.

BostonB

OPW/Parks close the parks gates when they feel like it as it is. Regardless to the complete chaos it causes to everyone else. I don't think this gate is any exception.

I think Farmleigh Woods is overpriced for what you get, though you should get a good deal on it now. That said its a lovely location beside the park and Castleknock Village so your paying for the location & address. Traffic is woeful unless you leave early/late. Very long way from the train and the buses take forever. Though you could cycle into town in 20/30mins. If I had the money I'd snap one up, but I wouldn't stretch to buy it.

Theres no comparison between Waterville and Royal canal park / Rathborne in terms of location, prestige etc.

Oafley Jones

Offer €350K for it. It probably won't even be worth that in a few years (months?) time.

This thread highlights for me how far we've still to go in regard to the property price correction.

seahorse

Oafley Jones wrote: »

Offer €350K for it. It probably won't even be worth that in a few years (months?) time.

This thread highlights for me how far we've still to go in regard to the property price correction.

+1

550.000 for a two bed apt?! You should tell them to snap out of it. If I had that in cash I still wouldnt dream of parting with it; that's a very expensive mistake.

BostonB

Which explains why theres so few sold.

athtrasna

smccarrick wrote: »

Castleknock is a prestigious area and does have very good services and amenities in its immediate vicinity (not least the Phoenix Park itself). As alluded to above- traffic can be an issue- it is serviced quite well by bus however.

You are joking right?

Castleknock has a certain snobbery attached to it and I just have never understood why. Property is at Ranelagh prices without the proximity to the city centre. Services? What services? You have to go to Blanch for most services, Castleknock doesn't even have a 24 hour accessible ATM!

Traffic is a huge issue and as for buses...the 38 is often full before it gets to Castleknock and the future of the 37 is up in the air.

Sorry to be so negative OP but I don't think I'd buy an apartment in Castleknock if it was half the price of those you're looking at. Also have you checked the management fees - they don't come cheap!

johnnyskeleton

seahorse wrote: »

+1

550.000 for a two bed apt?! You should tell them to snap out of it. If I had that in cash I still wouldnt dream of parting with it; that's a very expensive mistake.

Just to put this in perspective for the OP, she could buy a decent 3 bed house in a decent area for this kind of money:

1) 3 bed period house in phibsboro €595k

2) 3 bed red brick recent build in Harolds Cross €535k

3) 3 bed period semi drumcondra €545k

BostonB

Do they turn the ATM off in the garage or something?

I think ye are missing the point a bit. Castleknock is close to the park (lots of events in the park) and has lots of very large houses. So it has a reputation for being expensive, hence a place to be. Nothing to do with transport links, or services. Besides it used to be close enough to town, without actually being in it for driving into the city center. Before the over development of Dublin West caused the grid lock we see now. That said even now there can be times where it can be quicker to get into city center than blanch/blanch center.

Its not about value for money. Also not everyone wants to live in the city. You can't compare living in the city with living 3 -5 mins walk from the phoenix park.

That said theres obviously better value and practicality elsewhere, if thats what you are looking for. Thats always been the case with Castleknock.

Miss Fluff

550k is in excess of HALF A MILLION EURO, this seems exorbitant for a two-bed apartment.:eek: How many units have they actually sold? You really are in a position to shop around OP and be as bold as brass in relation to what you offer initially, regardless of it's proximity to the Park and it being a sought after location, I can't see how the developers have the brass neck to try and charge 550k in the current economic climate tbh.

DublinDilbert

There's also the development at the race-course to be considered also... It's only 4 miles from town..... has access to the train and many bus routes too (37/38/39).... and the park is right on its door step too...

BostonB

DublinDilbert wrote: »

There's also the development at the race-course to be considered also... It's only 4 miles from town..... has access to the train and many bus routes too (37/38/39).... and the park is right on its door step too...

Its an ok spot but I think they are going to have a job getting bus or train from there. The train and buses are crammed full long before they get there in the mornings. That stretch of the Navan Rd is a car park at peak times.

Lots of places are near to the park. I only mentioned that because people are comparing living in the city with living outside of it. being beside the park is nice but its not why Castleknock is expensive. its because its Castleknock. End of. Farmleigh is a great site, mature trees, expensive park of Castleknock, country lane type of vibe. 5mins walk to the village, and Myos etc. But I agree its woefullly overpriced. Was overpriced even at the height of the boom. Theres a whole row of houses on that road sitting there for about a year now. Not one sold. dunno the price 2~3m maybe more. Farmleigh Woods looks like its about 20~30% occupied.

macy9

Im still curious about this place. I went and had a drive around not too long ago and couldn't understand why so many were vacant .... then the bursting of the housing bubble dawned on me. I guess Farmleigh are trying to hang onto 2006 prices! But how long can they do that for when the units are clearly not shifting [imo.]

Ive read 2 things about Farmleigh

• the sound proofing is supposed to be completely attrocious
• there have been problems with the water

Would love to hear from anyone who has purchased/rented there. Because it still looks like a really nice development.

BostonB

I don't live there, but I pass by it a lot. I think theres better value in other properties (mainly older) in the area not too far away.

Eglinton

OP, you would be insane to buy a 2 bed apartment for 550K. A quick look at daft.ie with PropertyBee shows loads of 3 and 4 bedroom houses in Castleknock dropping prices hugely over the last few months to advertised prices of 400 - 450K. If these are the advertised prices, you could almost certainly entertain the possibility of 30% lower offers on them.

Almost all new and newish apartments are of shocking quality, small, have questionable management company arrangements and are generally not owner/occupier friendly (i.e. no neighourly feel).

Irish people and apartments are not a good combination. We have no history of apartment living and all apartments built in the boom were for profiteering purposes only instead of building high quality, spacious family homes for real people.

In my opinion a 2 bed apartment in Dublin should be on sale for about 200K max with maybe a 10% premium on top for being close to the Phoenix Park.

You should not even consider paying more for an apartment than a bigger house in the same area.

If you do buy this apartment for 550K, then you will be a certified member of the "We got screwed by negative equity" club.

BostonB

Eglinton wrote: »

...In my opinion a 2 bed apartment in Dublin should be on sale for about 200K max with maybe a 10% premium on top for being close to the Phoenix Park.....

That would make any apartment on the frings of the park, no matter its location would be the same price. Theres more to it than the park. Some locations are nearer the Luas and some location are a lot rougher than others. Yet they are all close to the park. Other than that I agree with you. Farmleigh is probably the most expensive location in Castleknock. While its an excellent location it doesn't justify the high price. The build quality and the living space your getting also just justify it either.

Eglinton

BostonB wrote: »

That would make any apartment on the frings of the park, no matter its location would be the same price. Theres more to it than the park. Some locations are nearer the Luas and some location are a lot rougher than others. Yet they are all close to the park.

True enough. What I mean though is that a 2 bed apartment in an average area should be about 200K as that's probably in or around what 1-2 normal people could afford. If it's in a better area or has some distinct advantage such as the Luas, Sea View, close to park etc., you should expect it to be a little more expensive, probably circa 10%. If it's in a rough area perhaps it should be 10%+ less. Outside of these bands (particular in the upward direction!) is plain silly for a 2 bed apartment unless it's collossol or incredibily well specced out and in Ballsbridge.

who_ru

Eglinton wrote: »

Irish people and apartments are not a good combination. We have no history of apartment living and all apartments built in the boom were for profiteering purposes only instead of building high quality, spacious family homes for real people.

couldn't agree more.

JupiterKid

I grew up in Castleknock, and while it is an affluent, attractive and well kept suburb, it is also full of deeply pretentious, materialistic snobs. Definitely one of the most stuck-up, false suburbs in Dublin.

Farmleigh IS in one of the best locations in Castleknock, at the edge of the built up area and beside the green belt so unlikely to be developed further. However, over half a million euro for a poorly built 2 bedroom apartment is taking the comlete p*ss. Add to that public transport is not that great in Castleknock, the busses are usually full in the mornings by the time they reach Castleknock village and the traffic congestion is horrendous at rush hour.

Forget Farmleigh until the prices drop by at least 50%. And it is true that there is a problem with the water supply there.

Johnny Volume

JupiterKid wrote: »

.... it is also full of deeply pretentious, materialistic snobs. Definitely one of the most stuck-up, false suburbs in Dublin.

I couldn't have said it better myself

JupiterKid wrote: »

And it is true that there is a problem with the water supply there.

€550 thousand for a place that has a water supply problem?! And we wonder how/why the country is now in a state of crisis

the_syco

Eglinton wrote: »

OP, you would be insane to buy a 2 bed apartment for 550K. A quick look at daft.ie with PropertyBee shows loads of 3 and 4 bedroom houses in Castleknock dropping prices hugely over the last few months to advertised prices of 400 - 450K. If these are the advertised prices, you could almost certainly entertain the possibility of 30% lower offers on them.

OP was written July last year. Since then the recession has hit hard, and I'd say some "sold" apartments have been put back on the market, for less.

catch88

Since the o.p was written;

2 Bed Apartment was €555,000 now €450,000

1 Bed Apartment was €490,000 now €350,000

The_Conductor

catch88 wrote: »

Since the o.p was written;

2 Bed Apartment was €555,000 now €450,000

1 Bed Apartment was €490,000 now €350,000

My reading of this is 1 bed apartments cannot be shifted, fullstop. Thats a 30% reduction on the 1 beds and an 18% reduction on the 2 beds.......

To be perfectly honest- in the current climate- even the revised prices seem opportunistic........?

catch88

Farmleigh is really starting to tumble.

These started out around 1.5 mil.

Now 975k

http://www.daft.ie/searchsale.daft?id=253242

I know 2 separate people who bought the apartments as an investment for when they retire and now they're stuck with them

BostonB

The prices in Farmleigh never made any sense.

inspiron6000

does anyone have an updated price for a 2bed apartment in the phoenix park racepark?? not the listed price but the price there accepting.

brendan1023

what are your current thoughts on Farmleigh Woods, Castleknock as an investment? Have prices gone up or down? Are there many apartments within the estate that are available? Any help on this query?

BostonB

Did you just get out of a time machine or something?

http://www.thepropertypin.com/viewtopic.php?f=22&t=10674&p=198612&hilit=Farmleigh#p198612

http://www.thepropertypin.com/viewtopic.php?f=4&t=5080&hilit=Farmleigh+Woods

Its still falling and I'm guessing its got a lot to fall yet.

brendan1023

in fact, I live in South Africa. I'm looking for an architecturally interesting property to invest in as an investor. Dublin 15 is the area

BostonB

What about Farmleigh is architecturally interesting?

You do realise its a falling market? Which is still falling?

patftrears

inspiron6000 wrote: »

does anyone have an updated price for a 2bed apartment in the phoenix park racepark?? not the listed price but the price there accepting.

Know someone who bought 3 for 750k in January when they were advertised for 320k, at the time I asked a mate in the bank who works with developers and he said you could get them for 285k, now they are advertised at 285k. So it looks like the banks are influencing the price.

Know about 10+ people who live/own investment there, they all bought at between 360-380, some of them have 2,3 apartments.

brendan1023 wrote: »

in fact, I live in South Africa. I'm looking for an architecturally interesting property to invest in as an investor. Dublin 15 is the area

Farmleigh is a horrible looking development, it looks cheap, it has zero curb appeal, they paid big money for the site and then went low quality on the design, exteriors.

catch88

If people are getting the two beds which are advertised at €450,000 for €285,000 what would you suggest the one beds (€350,000) would be sold at?

http://www.myhome.ie/residential/search/new-developments/brochure/farmleigh-woods/15763

ZYX

brendan1023 wrote: »

in fact, I live in South Africa. I'm looking for an architecturally interesting property to invest in as an investor. Dublin 15 is the area

There are many areas not to even consider investing in. Dublin 15 would definitely be one of these. Too many properties, not enough roads is a major unsolvable problem.

catch88

Was there the other day, just drove around and had a look. Definitely more apartments occupied than when i was there a year ago. Not looking like the ghost-town that it was.

Did notice the horrible overgrown yellow dead grass that lined the drive way on the way in. Nobody taking care of the lawns???

April08

Hi anyone know if there are any problems with pyrite in the Farmleigh woods/whites gate development as these estates were built by Menolly Homes?

scott2020

My friend recently bought a second hand two bed apartment at Farmleigh woods for €290,000. Seemed like good value, however the developer is still looking for €360 for new apartments on the same site. Is he mad or has NAMA not hit Farmleigh yet? Has anyone managed to push the developer to a realistic price for these apartments which are now on the market for over three years. Everything else is down 50% but Menolly Homes seem to still have their head stuck in some pyrite quarry!

scott2020

Caveat emptor. Buyer Beware, something is rotten at the estate at Farmleigh Woods. Called into the EGM of the management company at Farleigh Woods last week at Castleknock Golf & Country Club. All is not well there; over 100 people still have outstanding management fees. The Chairperson of the company spoke of the critical situation and the company was losing money fast and may soon not be able to pay its bills. The meeting was informed that the developer, Mellony Homes have no obligation to pay fees for the many vacant units (they reckon over 60). Many residents objected to plans to convert Mount Hybla, (nice house in the centre of the estate), from boutique hotel to 59 bed nursing home. All in vain, permission was granted... The management fee of €19,000 for Mount Hybla, however, is still outstanding!! Having changed selling agent they still cannot shift the remainder units. The 12 units for social & affordable, managed by Fingal County Council are occupied. Glad the management company are glad they are assured of their management fee. If you visit make sure you suspend judgement on entering the gates, life is different inside, prices are still at peak level. Bring on NAMA NAMA NAMA.:D:D:D:D:D