Ridiculously overpriced house in Malahide?

ohlordy

Not that I have any interest or ability to buy this or anything like it...
I was browsing and noticed the price of this house

https://www.myhome.ie/residential/brochure/creagh-church-road-malahide-county-dublin/3616810
1.4 million for 240m2 and a small garden

Just down the road is
https://www.myhome.ie/residential/brochure/16-streamstown-wood-streamstown-lane-malahide-county-dublin/3617556
1.25 million for 350m2 and a small garden

Further down the road I find
https://www.myhome.ie/residential/brochure/brookville-hazelbrook-malahide-co-dublin/3808470
1.2million for what must be 400m2 and 3.5 acres of land

The first one is closer to the centre of Malahide, but apart from that it offers less than the others? Is being in Malahide that attractive to buyers against being just outside Malahide? Or is it an asking price of 200-300k above what the it should be?

PS I know there is no one true answer, it just struck me as being overpriced and I wonder what others think!

davo10

ohlordy wrote: »

Not that I have any interest or ability to buy this or anything like it...
I was browsing and noticed the price of this house

https://www.myhome.ie/residential/brochure/creagh-church-road-malahide-county-dublin/3616810
1.4 million for 240m2 and a small garden

Just down the road is
https://www.myhome.ie/residential/brochure/16-streamstown-wood-streamstown-lane-malahide-county-dublin/3617556
1.25 million for 350m2 and a small garden

Further down the road I find
https://www.myhome.ie/residential/brochure/brookville-hazelbrook-malahide-co-dublin/3808470
1.2million for what must be 400m2 and 3.5 acres of land

The first one is closer to the centre of Malahide, but apart from that it offers less than the others? Is being in Malahide that attractive to buyers against being just outside Malahide? Or is it an asking price of 200-300k above what the it should be?

PS I know there is no one true answer, it just struck me as being overpriced and I wonder what others think!

It's only overpriced if no one buys it, if it sells at that price then it is the right price for that house at this time. A house is only worth what the highest bidder is willing to pay for it.

ohlordy

I'll reword my question in light of the obvious and not very helpful, and somewhat condescending answer above.

There are 3 houses for sale, with big variations in valuation.
Has one estate agent overvalued the 1.4 million house?
Or have 2 estate agents undervalued the other two houses?
Or, to put it another way, is being close to Malahide usually considered worthy of a larger valuation than being a mile down the road?

I only ask as for me either of the cheaper houses seem much better value. But I'm not knowledgeable on the market and thus maybe the valuation isn't an anomaly?

68 lost souls

I would say being closer is a big advantage in terms of socializing in the village. Walking to the shops etc. Partking in the village can be a premium at times so that extra mile can be worth it.

cruizer101

Might be excessive but there definitely would be a premium to be in the town, all well out of my reach but last one would be my favourite however it is a big stretch to even have Malahide in the address for it

Walter H Price

To be honest they all look like really nice property's in what is probibly north Dublins most desirable Location , i know where the last on is and it is a bit isolated in terms of connectivity i.e. no trains buses amenities close by etc ...

To be honest its hard to argue with the valuation of any of them other then maybe the other two should be more expensive

Cyrus

first one is a short walk to the dart, the other two arent, one is a long walk and the other is a drive,

stuff like that is important to people,

i am staggered at the prices versus the equivalent in dalkey and killiney, positively good value :P

Rew

Closer to the village you will get less for your money you will find examples of that anywhere you look.

maximum12

The first one is on the outskirts of Malahide village and a 10 minute walk to the centre of the village. The second one would probably be more accurately described as Kinsealy and is a drive to anything in Malahide apart from the castle grounds. It's also 350m over three floors which does not provide nearly as much living space as two floors. The third one is in a rural part of Portmarnock and not close to anything in either Portmarnock or Malahide. Property in Malahide village or <10 minute walk does command a big premium over property that is driving distance.

goz83

The first one is a nice house. Though if I had that sort of money to burn, I wouldn't be touching the first one.

The second one is nicer imo, but again....too pricey.

House number 3...yes please!! There's a lot to be said for a bit of of land. And if i'm totally honest, I prefer the location of the third property, but only because it's closer to where I live and while I like Malahide, I would prefer not to live there.

Wesser

I think 1.2m for 400 m2 is good value

In some areas of Dublin it is 380 for 89m2.

Very crowded area of the market.

Cyrus

maximum12 wrote: »

The first one is on the outskirts of Malahide village and a 10 minute walk to the centre of the village. The second one would probably be more accurately described as Kinsealy and is a drive to anything in Malahide apart from the castle grounds. It's also 350m over three floors which does not provide nearly as much living space as two floors. The third one is in a rural part of Portmarnock and not close to anything in either Portmarnock or Malahide. Property in Malahide village or <10 minute walk does command a big premium over property that is driving distance.

How is 350m over 3 floors any less than 350m over 2?

ThisRegard

I can see the point being made. A lot of the space would be in the bedrooms, usually the master bedroom and a very large ensuite and/or walk in wardrobes, rather than the space to be spread around the main living areas, kitchen, dining, living rooms, office etc.

davo10

Cyrus wrote: »

How is 350m over 3 floors any less than 350m over 2?

Smaller rooms when area spread over 3 floors, more landing area.

Cyrus

davo10 wrote: »

Smaller rooms when area spread over 3 floors, more landing area.

Not necessarily, I'd argue at 3500 sq feet it won't make much diff one way or the other

davo10

Cyrus wrote: »

Not necessarily, I'd argue at 3500 sq feet it won't make much diff one way or the other

Apart from the extra landing area on the third floor and the large hole in the third floor for the stairs? One has extra landing area, one doesn't, it's binary, is there an argument to be made there?

Cyrus

davo10 wrote: »

Apart from the extra landing area on the third floor and the large hole in the third floor for the stairs? One has extra landing area, one doesn't, it's binary, is there an argument to be made there?

You are assuming the two storey house doesn't have a massive landing and the three storey house doesn't have two much smaller ones

How is it binary ?

CuteAngryBird

it has been 5 years. I don’t know about the first two houses. But the last one, is still on the market?! The house looks nice but I am not sure about the area. Never lived there. Asking price is 1.35m. Good value or should think twice before making an offer considering it is on the market for years? Any thoughts?

J_1980

Next to river? Flooding area?

also direct path of DA runways.

CuteAngryBird

hmm does it mean it might be noisy ?

ahnowbrowncow

https://www.boards.ie/discussion/comment/120675414#Comment_120675414

Yes, but on the plus side you'll be able to get home quicker from your holidays. Just hop out with your parachute on and you'll be home in a few minutes. You'd be limited to cabin luggage though.

CuteAngryBird

https://www.boards.ie/discussion/comment/120675479#Comment_120675479

Haha if I can just hop out with a parachute from a helicopter, I probably will not consider this house and this area :p