Castlepark, Maynooth

WittyName1

[Deleted User] wrote: »

Sorry to hear it Repetto. Very disappointing. As I was saying earlier, at the viewing I went to I saw much evidence of the Bank of Mum & Dad so there must still be some 'mattress money' around.

Would you care to elaborate on what 'evidence' points to the 'bank of mum & dad'...and what exactly is wrong with parents helping out their children?

Edited to add that I'm not in a position to receive money from said bank, but wouldn't for a second begrudge someone the opportunity of buying a house with help from their parents. If parents can't help their kids out without begrudgery then it's a sad country we live in.

WittyName1

WittyName1 wrote: »

Would you care to elaborate on what 'evidence' points to the 'bank of mum & dad'...and what exactly is wrong with parents helping out their children?

I elaborated at the end of page 84 of this thread and said there was nothing wrong with it. It just helps to explain where people are getting this kind of money. It doesn't apply to everyone who buys a house for half a million - some have good jobs and have saved well.

WittyName1

WittyName1 wrote: »

Edited to add that I'm not in a position to receive money from said bank, but wouldn't for a second begrudge someone the opportunity of buying a house with help from their parents. If parents can't help their kids out without begrudgery then it's a sad country we live in.

It pushes up the price of houses for people like you but I'd still be tempted to do it for my own kids if/when the time comes. Everyone is selfish when it comes to their children.

WittyName1

[Deleted User] wrote: »

It pushes up the price of houses for people like you but I'd still be tempted to do it for my own kids if/when the time comes. Everyone is selfish when it comes to their children.

Exactly, I can totally see why people would want to help their kids. Obviously I would love to be on the receiving end of some of that money too but that's not the reality I'm in.

The 'bank of mum and dad' thing seems to pop up in this forum alot and usually in a negative way, which I find intriguing. I just think fair play to them if they are in a position to help their kids out, even if it does mean I may miss out on a house to someone in that position.

Surelite

395 for the semi...ah lads... Did nobody read my PPR data post. I was hoping it would keep bidding reasonable. 395 is a gamble though. They might keep that price in the future and they might drop but God help us all of they rise further....

ghostdancer

what was the asking price for the 4-bed detached again? 450k or something?

with the semi-d's going for around 10% over asking price is it fair to saw that the detached likely went for nearly half a million?! :eek:

Galego

This country is nuts! Over 40% increase of the original price in less than two years. Even London will struggle to archive that increase in such as sort time.... :-)

Surelite

ghostdancer wrote: »

what was the asking price for the 4-bed detached again? 450k or something?

with the semi-d's going for around 10% over asking price is it fair to saw that the detached likely went for nearly half a million?! :eek:

The detached minimum bid guideline was 490 or so!

ghostdancer

Surelite wrote: »

The detached minimum bid guideline was 490 or so!

christ, so probably went for well over 500k in the end!

Surelite

ghostdancer wrote: »

christ, so probably went for well over 500k in the end!

Scary stuff alright.

I was chatting 2 months ago or so to a chippy who was working on these. He got laid off with a few others and reckons it was to show down progress and build up demand for higher prices for the last phase. I don't know if he was telling fibs but now.... Maybe there's something in it?

Galego

Galego wrote: »

This country is nuts! Over 40% increase of the original price in less than two years. Even London will struggle to archive that increase in such as sort time.... :-)

Prices are falling in London

If the people who bought them can afford to repay they won't care if prices fall later.

I agree (maybe'hope') these prices turn out to be an exception for houses some see as exceptional.

its a waiting game

its a waiting game wrote: »

We got our first choice. Absolutely ecstatic to say the least !!!!

Congrats waiting game! Semi- or detached?

its a waiting game

Hi! Thanks for the congrats :-) we got a detached thanks to the help of mammy :-) though it'll all have to be paid back !! Any new neighbours out there ???

Surelite

its a waiting game wrote: »

Hi! Thanks for the congrats :-) we got a detached thanks to the help of mammy :-) though it'll all have to be paid back !! Any new neighbours out there ???

Congrats!

ColinMc

Hi Waiting game,

Do you mind me asking how much you paid for the detached?

Repetto

Congrats waiting game, enjoy the excitement! Would also be interested to know how much you bid, if you're willing to share?

ForEffsSake

We got a detached too - delighted is not the word although slightly tempered with the fact that we're probably buying at the top of the market! But I'm not moving again, it's a family home and hopefully the neighbours are nice ;-)

However, we didn't bid much more than the asking price - sorry for the secrecy but we're still getting used to the fact that we got one so I'm afraid to jinx it! I think the bids for semi's went a lot crazier than the detached. There can't be loads of people any more who can afford to pay close to 500K. But judging from the Maynooth market, a lot of people are in the 300-400 bracket and the semis are bigger than most available.

We were in a good position financially with a good deposit as we'd come back from abroad and made money on a foreign house sale. But it's already a lot more than we'd planned to pay for a house. We did not want a big unmanageable mortgage so didn't go mad with the bid. The 40K increase from February almost made me back out and I was seriously thinking of going under the asking but compromised by only going a bit over.

Really sorry to hear the disappointments, I know how gutting it is. We've lost out on a few houses over the last few years due to a refusal to get involved in ridiculous bidding wars. Mad as it may sound, some of the smaller houses in the other nice estates in the area are actually more expensive per sq ft than these and we are constantly gobsmacked when we look at the PPR.
But there are more on the horizon in the new estate plans next door to Castlepark -same houses by the looks of things. And with any luck, will probably be better value. Also, you never know, some of these may not complete so as mentioned before, keep in with the EA (hopefully won't be me though, fingers crossed!)

Congrats ForEffsSake!

ForEffsSake

Thanks Ixelles :-)

Good points about price/m2. I still think 395k for the semis is a lot but the asking price of 360k wasn't that nuts given the price of 3-bed semis in the likes of Parklands/Rockfield. I like those estates but the houses are not huge (esp. upstairs) and you'd spend tens of thousands to get the BER up to an A-rating.

Question is: what next for the people who didn't offer enough to buy a house in Castlepark?
- Wait for the next development beside Castlepark?
- Buy a 3/4-bed elsewhere in Maynooth, like this one in Rockfield for 375k? Throw half a mill at this bungalow beside Maxol?
- Give up on Maynooth and look either further afield for lower prices or closer to Dublin (given that the price difference has apparently narrowed considerably)

The (lack of) choice is yours! I can see why people threw the kitchen sink at Castlepark even if it turns out to be the top of the local market as some have suggested.

I see four new detached houses on the Celbridge Road near Griffin Rath are close to completion. Will be interesting to see how they price them given that they now know how much money some of the Castlepark under-bidders have to offer...

Maynoothres

We got a semi-d! I'm so excited and in a little bit of shock! I cannot believe it. We paid way over asking but we don't intend to sell for a long long time so next years probable downturn wasn't much of a factor for us.

I really feel for those of you who have been unsuccessful as we had really resigned ourselves to the fact that we wouldn't be getting one. As mentioned by many, the next door estate looks to be identical so here's hoping for you all.

Thanks to everyone for sharing there experiences.

Here's hoping things work out for all of us

Kathy22

Maynoothres looks like we will be neighbours We are from the previous phase on the same road as these semi-Ds.

Congrats to everyone else who got their dream home.

mileycactus

For those who didn't get one, I wouldn't give up yet. Cancellations happen very regularly and it wouldn't surprise me if a few of this phase were held back deliberately in order to allow the "underbidders" to increase their bid by a few k. :rolleyes: Until they go on the PPR its not transparent who got what or if they all sold!

There is also permission near Tesco for another estate and Moyglare Hall have phase 4 planning permission due in December sometime for over 100 units, so 2015 should have plenty of new house stock in Maynooth. I would think developers are only starting to spin up again given what has happened year to date..planning etc takes a long time to get going

To those that got one, congrats, they look to be a fine house! If you ever look to sell i'm sure there would be no shortage of takers no matter what price you paid

its a waiting game

Can anyone recommend a decent reasonable solicitor ???

IrishAlice

its a waiting game wrote: »

Can anyone recommend a decent reasonable solicitor ???

Averil Field is good, we're dealing with her at the moment and she's very thorough and prompt to reply to queries.

washburn73

Deleted User wrote: »

I see four new detached houses on the Celbridge Road near Griffin Rath are close to completion. Will be interesting to see how they price them given that they now know how much money some of the Castlepark under-bidders have to offer...

I think that you'll find that some - if not all - of those houses have been sold privately by the builder. It's the same builder as Griffin Rath, so if any of the four do come to market, it'll likely go through Coonans.

As an aside, the build quality in Griffin Rath is not comparable to Castlepark imho - but then again, to be honest, I wouldn't do business with Mooney's/High Degree Construction/Mason Homes on a point of principle.

If you want a house in Maynooth then you need to be quite proactive about it. Make a direct approach to the builder - don't wait for the agents to come in and take their cut, or talk up the market. There are deals to be done.

Or alternatively, buy a site and build (albeit that's the most expensive option, but at least you are guaranteed a detached house of your own design rather than in an estate where you are likely overlooked at every angle).

Good luck to all those who have purchased in Castlepark.


As I've mentioned before, the problem is one of supply - it's not about reckless lending, or relaxed credit terms. It's simply that there haven't been any houses built in the last 6 years - and during that time, a certain segment of the population have grown up, got married, had kids, etc. and want/need a home for their family.

Are houses in Maynooth overpriced? Well, it depends how you measure it. If it's based on the cost of the site plus development costs, planning fees, etc.... then yes. But on the other hand, those same houses are selling, so as long as someone's prepared to pay the price, then it's not overpriced. Simple supply & demand.

Don't blame the bank of Mum & Dad. Don't blame people for bidding to their limit because they are fed up of looking and desperately want a home for their family. It's not their fault that the system is broken. And Honohan's meddling will only worsen the situation for wannabe buyers as it will dis-incentivise development and simultaneously drive up rental yields in popular areas.

Galego

Deleted User wrote: »

Good points about price/m2.

Is this for the semi-detached houses?

I found them myself smallish.....

ixus

This person was successful so I think the 390k is misleading/porkies/ the top price someone paid . PPR will reveal all eventually.

ixus wrote: »

I know someone who was gone into desperation mode and thinking of bidding 375+ for the semi.

I didn't want to say this beforehand as it could put unfair pressure on people and it wasn't my place.

It looks to me that, if so many of you were bidding just under, you know how crazy these asking prices were. You probably went that extra mile due to pressure, not value. I'm pretty certain this is the top of the market for a long time to come.

They lack a garage/playroom/office downstairs but, compared to semis in Parklands, at least they have four bedrooms. The gardens are a bit mean.

Mind you, if we ignore asking prices in Parklands/Rockfield and just look at the price register, I see the most recent sale in Parklands was for 277k in May (needed work) and Rockfield was 270k in January. Prices have risen in the meantime but still...

Maynoothres

390k is not porkies or misleading I'm afraid!