Adamstown

Victor

bakubaku1, the price you pay is largely for you and your bank to decide.

wexford12 wrote: »

OP If you buy off plans it would be a car crash waiting to happen. High chance of living in a ghost estate with half finished houses like every other or maybe worse estate that has been walked away from.
Why oh why would anyone even look at this and I am surprised that a bank will lend on a new build estate how can they put a value on it if all the houses arn't built or sold yet. If the estate has 50 houses even how do you know that only 5 might be sold.

At the present time (not 5 years ago), if you buy off the plans, how would you end up in a ghost estate?

Sure, the area hasn't developed as the developers would have liked, but it doesn't seem to have mass vacancies like in some rural areas. It does however have two primary schools, a secondary school, shops, a train station, bus services and a good road network. The common areas are well kept. Hardly a ghost estate.

Do you even know the area? http://maps.google.ie/maps?q=Adamstown,+South+Dublin&hl=en&ll=53.337833,-6.455589&spn=0.025983,0.084543&sll=53.401034,-8.307638&sspn=6.644571,21.643066&oq=adams&hnear=Adamstown,+County+South+Dublin&t=m&z=14&layer=c&cbll=53.337833,-6.455589&panoid=SfJ_RDY0v4XY53MeW1xXbw&cbp=12,266.89,,0,2.92

http://maps.google.ie/maps?q=Adamstown,+South+Dublin&hl=en&ll=53.3376,-6.457064&spn=0.00296,0.021136&sll=53.401034,-8.307638&sspn=6.644571,21.643066&oq=adams&hnear=Adamstown,+County+South+Dublin&t=m&z=16&layer=c&cbll=53.337595,-6.457055&panoid=jmBxJ8yVxEaMWdcz8UgJnQ&cbp=11,121.16,,0,3.29

The_Conductor

There are other parts of 'New Lucan' with far higher levels of vacant property and burgeoning antisocial behaviour, than Adamstown. As Victor says, its far from a ghost estate, and by one significant measure, the percentage of property that is owner-occupied- as opposed to rented out, its getting significantly better as time goes by.

How low will prices fall? I'm sorry, my crystal ball is foggy this morning. Apartments and managed units have taken the largest hit of any property type- and continue to fall. Houses, in mature areas, with family friendly features (such as a small garden)- may have stabilised somewhat in a Dublin context (and curiously enough Clare too), but elsewhere nationwide they are continuing to fall, albeit not as quickly as apartments and managed units.

If you compare Irish prices (current) with international prices- we are still at least 20% above our foreign peers (though the impending property tax, water rates and proposed residential tax- will doubtless knock our prices back significantly). This is factored into mortgage lending where lenders (if you can find one) are now demanding a deposit of 20% for most property.

Do they have the likelihood to fall further in price- economic fundamentals and new property and residential based taxes coming down the road- would state a definite yes. How much- who knows?

engineermike

Homebond & premier bond - these are a boom time marketing exercise. The bond amount taken from builders is not in line with the remuneration required by homeowners with serious building defects X the no. of poorly built houses in the current stock.

Also can I mention, if there ever was a thread in dire need of moderation....

Mike F

wexford12

Victor wrote:

At the present time (not 5 years ago), if you buy off the plans, how would you end up in a ghost estate?

Sure, the area hasn't developed as the developers would have liked, but it doesn't seem to have mass vacancies like in some rural areas. It does however have two primary schools, a secondary school, shops, a train station, bus services and a good road network. The common areas are well kept. Hardly a ghost estate.

A ghost estate does not have to have waste land or half finished houses in it to be classed as one. I live in an estate that has 50 houses and about 12 that were built painted lawns laid etc. Now we still have 12 houses with over growen gardens and smashed windows, lead flashing stolen and the wire ripped out of the walls inside.

Give me a finished fully sold estate any day. Yes they might all get sold and there will be no problems but its a huge gamble

The_Conductor

wexford12 wrote: »

A ghost estate does not have to have waste land or half finished houses in it to be classed as one. I live in an estate that has 50 houses and about 12 that were built painted lawns laid etc. Now we still have 12 houses with over growen gardens and smashed windows, lead flashing stolen and the wire ripped out of the walls inside.

Give me a finished fully sold estate any day. Yes they might all get sold and there will be no problems but its a huge gamble

The big difference between your description and the likes of Adamstown- is location. Adamstown may end up as a socially deprived area (a significant portion of the homes are either rented out, or were purchased on shared ownership schemes), and akin to elsewhere in the country, unemployment is an issue. Adamstown was built with some previous developments, notably Tallaght, in mind- which was massively overdeveloped in the 70s/80s without the provision of facilities and amenities- an effort which they tried to make in this instance.

Adamstown is not a rural estate- and while its vacancy rates may be creeping upwards- it is almost fully sold, and very well occupied.

Yes- it, along with many other developments, are in retrospect probably not what should have been allowed happen- Adamstown is not however at any risk of becoming a ghost estate- aside from any other factors- because of its location.

who_ru

Hi all,

i am thinking of booking a viewing of a 2 bed apt in Adamstown Square.

for those in the know, or who live in the area, are there any issues that i should be aware of before viewing. anti-social behaviour, yearly fees with the complex etc?

thanks in advance.

andresapitt

Hi, I am looking myself to move to Adamstown, did you ever buy the house in the end? if so, how did it go?

hlarsson7

Hi Andresapitt,

I bought up in Adamstown a few years ago. Like many new developments it has it's pros and cons.I think it intitally appealed to buyers as it was the only thing they could afford in the Dublin region at that price range. The market has changed now, you can now get a detached house for the same price, instead of ending up in a Duplex apartment with somebodys living room directly above your bedroom. The ground floor Duplex I live in has poor soundproofing and it doesn't help when your neighbour above has wooden floor and surround sound.
The development has no immediate green areas for kids to play in, So you will find the kids playing between the parked cars, it's only a matter of time before a serious accident occrus. Parking is a major headache as well as there is no designated parking for your car, The underground car parks are not used so everyone just parks where they want.
The developers look to have abandonded the plans they had laid for the development of the area, so it's anybody guess what will happen. Already a prefabbed School has appeared and also there is plans to throw in more social housing into Adamstown, although the area currently has no social problems it is only a few years away.