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Value of house In Palmerstown

  • 31-05-2015 9:12pm
    #1
    franknottaken
    Registered Users, Registered Users 2 Posts: 22 ✭


    Hi folks

    A number of houses for sale in palmerstown area. Specific this estate

    daft.ie/11049786

    Any thoughts on price? Guide prices are given but would be interested to know how much do you think they are worth.

    4 are for sale but have not moved in a while.

    Thanks in advance


Comments

  • #2
    McGrath5
    Registered Users, Registered Users 2 Posts: 2,426 ✭✭✭McGrath5


    Have you looked up the property price register of recent sales in the area?


  • #3
    franknottaken
    Registered Users, Registered Users 2 Posts: 22 ✭franknottaken


    I have. Latest prices are 330k sold in December.
    But where sold for 180k in 2013.


  • #4
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    franknottaken wrote: »
    I have. Latest prices are 330k sold in December.
    But where sold for 180k in 2013.

    2013 prices are unlikely to be seen again for a long time, the trend is upwards in Dublin as there simply hasn't been anything like enough new home building in the past five years. That doesn't mean it's worth the asking price, only you can answer that, it's worth as much as you're willing to pay for it if the vendor agrees to accept your price.


  • #5
    franknottaken
    Registered Users, Registered Users 2 Posts: 22 ✭franknottaken


    That's true. The increase in 12months or so is above 80%. Crazy!

    If anyone would care to give a raw valuation as opposed how much I would be willing to pay that would be appreciated


  • #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Its really difficult to call.
    There are 5 properties for sale in that estate at the moment- along with several other new builds in Palmerstown and Chapelizod. Some estate agents are panicking. If the seller wants to sell any time soon- they will have to significantly reduce the price- and quickly.

    The last of the mortgage approvals, issued under the old rules- expires at end of June. After that date- any purchaser has the new deposit rules associated with the purchase (and indeed- investors will be subject to the 30% deposit rule).

    In my opinion- I think prices are in for a short sharp shock- downwards........

    I would not advise anyone buy at the moment- I'd suggest holding off- probably until next Spring- when the new environment has had a chance to bed down- and sellers have had to accept the seachange in the environment.

    Investors are out of the market- and likely to remain out- the current prices do not allow any plausible return on investment (even at today's high rents)- and the new 30% deposit- is just going to freeze them out of the market indefinitely (aside from a few prudent ones who have been paying down capital- and are in a position to leverage other assets- however, this is a stretch).

    The recent market (Allsops etc)- have been a bloodbath. Some limited developments have been very well bid on- but they are the exception rather than the rule. Last month's Allsop auction- had more than 30% of the lots remain unsold........

    Keep your powder dry- there is blood in the water..........


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