House Prices in Castleknock - Overpriced

Rida

Currently in the market for a house in the Castleknock area. 1st time buyer.

No real rush to buy - just trying to find the right 3/4 bed house at the right price.

But I have to say I am finding dealing with the Estate agents a quite laughable experience. I have been called a fool by several occasions with particalar estate agents when I questioned the price of a 3 bed semi - d. The asking price was 330k in the laurel lodge region. The house needed to be gutted. I eventually put in an offer of €265k with no real interest in buying the house unless I got a good deal. Had a verbal argument with the auctioneer - she said the house will go for €350k or more. The house was initailly sold for €272k. Lets say I had a quiet chuckle to myself.

But this is not the only house in which I have seen which is overpriced. In Warren Green I say a house 4 bed €490k - house eventually sold for €410k.

There is also a numerous number of houses that are overprices:

Pecks Lane/ Auburn Drive - small 4 bed €475k/ 535 - overpriced. However I saw hope a few weeks back when a large 4 bed on Auburn Drive sold for €455k when the asking price was €430k. I saw potential in this like others and was outbid to what I could afford. But a clever estate agent this time who was realistic! A pleasure to deal with them even though I did not get the house.

Luttrelstown - 4 beds can be anything from €450k to €550k - way overpriced and the estate agents wonder why they have been up for sale for 10 months to a year.

Roselawn (aka Blanchardstown ) - 4 bed semi - d €500k - I laugh and I laugh out loud at this price. However some have now came on the €350k which I believe is a good asking price to start negotiations.

Talbot Downs - quite funny area noise pollution hell. But nice houses. I have saw houses dropping €65k over the past 6 months. €500k to €435.

Pheonix Park Racecourse - dont make me laugh - auful and overpriced!

There is also a lot of 4 beds in the area from anything from €650k to €1 mill. Now I do understand you pay by the square footage and location. But there is no way some of these houses will sell at those prices. I can give you loads of examples.

Now with the housing report out the other day that houses have dropped 7% already this year and could drop another 10-14% - does this mean autioneers will adjust their asking prices - probally not!

I am a great believer is Supply and Demand. There seams to be an abudance of supply. So should prices not fall further.


Constructive counter arguments and advice welcomed.

Would love to hear other people thoughts and buying/selling experiences also.

Cathmandooo

I think it's moreso the sellers who are dillusional. You have to remember it's them who are hiring the estate agents to sell their houses and who are laughing at agents coming back with offers much lower than their expectations.

Castleknock has always been a way overpriced area, people bought those houses way overpriced and are unwilling to sell them for anything less.

I'd advise you to branch out a little from the area and you'll come accross plenty of almost reasonable priced houses in the Carpenterstown, Lutterellstown, Coolmine areas.

ricman

Theres lots of nice houses going in clonsilla for 200-220k, i suppose castleknock is a higher status area , but is it worth 160k more.I doubt it.
IF someone wants to sell a house they,ll bring it down to a realistic price.
Use daft.ie to see what is the average price in an area.
350 seems very expensive to me for blanchardstown, i know a home in westway view going for 170k ,in a private estate.

Zamboni

ricman wrote: »

350 seems very expensive to me for blanchardstown, i know a home in westway view going for 170k ,in a private estate.

If you want to live in spitting distance of Corduff...

who_ru

a side issue i know but castleknock is a traffic nightmare.........and full of snobbish people. flame away!:rolleyes:

okeydoke1

Rida - the same is happening all over Dublin from what I can see. There's plenty of drops to come, so hold on.

RATM

Lots of supply in the market compared to 2 years ago according to this
http://daftwatch.thepropertypin.com/

Over supply=falling prices but many vendors have yet to twig on to that concept. Hold tight, if we are about to go into a double dip recession like some are predicting then even the luxury homes in Castleknock cannot avoid market forces.

Zamboni

Even harder criteria from the few mortgage providers left including lower LTVs, and lower income multiples and interest rates will wipe out thousands of potential buyers. Dragging down the demand.
House prices haven't even begun to drop.
Due to the ridiculous exorborance over the last decade, we will be forced to live more prudently which I think can only be a good thing.

BostonB

They will all drop eventually. The market will dictate the prices.

Of course you could move 1k up the road and easily get prices closer to what you want now. Why not do that? Traffic is brutal all around there. For me the closer to town or train the better simply for commuting. Less traffic to get through. But of course that another reason why Castleknock is more expensive. Its closer to town, the park, the M50 and the train. Its an easy cycle to town. As are most of those roads you've mentioned. Its not only the status. Its actually a better location. Strange that no one mentioned that. There everything from mansions to terraced houses in Castleknock.

Location, location, location etc.

The problem with D.15 is they've over developed it, and the development has been poorly planned. All the various village centers have lost their focus though bad planning.

Zamboni

I'm not sure what is so appealing about Castleknock myself.
I toyed with the idea of living in the area and then took a drive all around from the Halway House out through Castleknock, Carpenterstown, Lutrellstown into Clonsilla.
The N3 from the Halway House to Clonee is still (currently) a disaster too.
The whole place is just a massive legoland with bad traffic.

BostonB

Your not talking about Castleknock which is quite a small area if you look at the townland map. You're talking about D.15 and Meath (Clonee).

RasTa

Rida wrote: »

Currently in the market for a house in the Castleknock area. 1st time buyer.

No real rush to buy - just trying to find the right 3/4 bed house at the right price.

I'm not buying or anything but the Mammy bought about 13 years ago in Burnell Park(carpenterstown) for 50k. Think it peaked at 650k in the boom. Probably back down to 350k now.

There are loads of houses in Capenterstown and I've highlighted your first part as if you can wait a year or two said houses you mentioned will be going for €250k max.

This has being up for ages, would probaby take 350 but still waaaaay overpriced.

www.daft.ie/1412940

Zamboni

BostonB wrote: »

Your not talking about Castleknock which is quite a small area if you look at the townland map. You're talking about D.15 and Meath (Clonee).

Aye true but the whole D15 area has the same congestion problems.

BostonB

Half of Dublin has congestion problems. D.15 isn't unique in that.

stepbar

I have to laugh at the suitation in Castleknock. Estate agents seem to think that every area surrounding Castleknock IS Castleknock. Example: http://www.daft.ie/searchsale.daft?id=532470 NOT CASTLEKNOCK!!!!! And there's plenty more examples.

Rafa1977

How do you know how much these houses sold for?????

ricman

IF you ring up the estate agent they,ll probably tell you if you ask politely, what house x sold for , i did it twice in the last year.
AS far as i can see people pay over the odds for castleknock cos its a quiet area , good reputation , no council estates there.
So you are paying about 100k over the odds to live there.
You can look at maps online to make sure the house is in castleknock.