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Carrickmines land down 85%

mrgaa1 · 2011-02-23 10:23:17

http://www.irishtimes.com/newspaper/commercialproperty/2011/0223/1224290604122.html Going by this and using build costs this should represent a house price of 49% less than peak. This represents roughly 70k per site - then add build costs - local council costs - legal costs and a small profit which will then equal house…

23-02-2011 10:23am

#1

mrgaa1

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http://www.irishtimes.com/newspaper/commercialproperty/2011/0223/1224290604122.html

Going by this and using build costs this should represent a house price of 49% less than peak.

This represents roughly 70k per site - then add build costs - local council costs - legal costs and a small profit which will then equal house price.

Unfortunately the build price will be still high as materials are still quite high and will continue to rise as oil keeps risings.

This will set a guide for valuations around the country not only for houses but for land that developers may have bought previous and are now in distress. Banks will be watching closely as I'd imagine the further out of Dublin you go the greater the drop.

This sale is a good guide for where the bottom is as undoubtedly the purchaser will develop and sell. anyone know what houses are selling for / asking price in that area?

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