Cork Property Thread

Faith

I'm completely bemused by that house. Every window looks out at either a wall, a fence or another house. It has the feel of a rental property to it, especially the appliances in the kitchen. The ceilings look to be really low, and the room with the wood ceiling must feel like being inside a box (also the ceiling planks are running in a different direction to the floor planks which is really disorienting).

Ah, actually, it definitely has been used as a rental. There's an odd bracket on a wall in the kitchen which probably should hold a fire blanket or extinguisher, and there's what looks like a fire notice in the utility room. That would explain the lack of care in the house.

Xidu

https://www.boards.ie/discussion/comment/118957790#Comment_118957790

I really do not think this house will be sold at this crazy price....

there's a massive house in blarney only asking for 600k.

People who can afford 750k for a house, would need way fancier interior decoration.

leahyl

https://www.boards.ie/discussion/comment/118962536#Comment_118962536

Insane price - 400k at the very most!

markodaly

https://www.boards.ie/discussion/comment/118963666#Comment_118963666

It sold for 455k in Dec 2019, as it was a new build.

So definately worth more than 400k.

595k is too much though, more like 500-550 but the market is flush at the moment.

ECB interest rate hikes cant come soon enough.

leahyl

https://www.boards.ie/discussion/comment/118963786#Comment_118963786

Nah, not worth that either in my opinion.

Schorpio

That house in Clonlara is a bonkers increase in 18 months. Absolutely insane.

It shows where the market is at though. I don't understand how or why buyers are rising to it. Is there no value proposition in people's minds? I don't get it.

markodaly

https://www.boards.ie/discussion/comment/118964071#Comment_118964071

What do you think its worth so?

4 bed, 4 bath A rated detached house in Kerry Pike, about a 15 minute drive to the South Mall wont be selling for 400k in anyone's world.

markodaly

https://www.boards.ie/discussion/comment/118964412#Comment_118964412

Lack of supply and cheap interest rates.

markodaly

https://www.boards.ie/discussion/comment/118965294#Comment_118965294

I agree its not worth 590, but to say its worth 400 max is kinda laughable tbh.

iColdFusion

Are estate agents just pathological liars or what?

This development isn't even slightly in Midleton, it's in Mogeely, surely it should be illegal to misrepresent a product like this?

https://www.daft.ie/new-home-for-sale/cois-m-igh-midleton-co-cork/3791221

Jbholmes

It seems to be common practice now. You see it all the time. Properties in Cloghroe listed as Blarney. Properties in Mahon listed as Blackrock. Trying to justify their unrealistic asking prices.

who_me

https://www.boards.ie/discussion/comment/118965161#Comment_118965161

I'd have thought the changes to the mortgage rules (i.e. no 100% mortgages and strict limits on salary multiplier) would keep the sales prices down.

But perhaps it's just pricing the first-time buyers out, while movers and investors are relatively unaffected?

Mav11

https://www.boards.ie/discussion/comment/118979596#Comment_118979596

Supposedly, the bank of Mam&Dad are supplying the additional funding. I'm not so sure and think maybe the banks are playing shenanigans again!! All will be revealed when the tide goes out.

On a separate note I see that this is back on the market:

https://www.daft.ie/for-sale/terraced-house-34-ballyhooly-road-dillons-cross-co-cork/3800753

If memory serves, it was on the market this time last year, originally at €250k with a drop to €205k, I think?

Never sold.

Jbholmes

Disappeared from property sites a few weeks ago. Back up now +50k.

markodaly

Adding Blackrock to the address must add 50k sure! :)

Anyway, I think a lot of sellers are chancing their arm now, adding tens of thousands on top, in the hope of getting a bite.

rob316

https://www.boards.ie/discussion/comment/118862070#Comment_118862070

I was looking at this, it must be seriously bad, no 19 is for sale, in turnkey and extension and asking is 460k.

Sold for 245,000 in 2020 and 378,000 in 2011. At 378k in 2011 it must of been in decent condition then? Looking at google maps

I'd definitely be interested at the right price but given the location its strange an investor hasn't snapped it up to rent out.

Is the cost of labour and materials turning off buyers?

Paddyjken

https://www.boards.ie/discussion/comment/118862070#Comment_118862070

From the area, currently looking to buy and did a bit of research on this. The house has a big side entrance, and supposedly the owner is looking for planning for apartments behind these house's and is looking to put a path to the apartments down the side of this house. Turning alot of people off it.

rob316

https://www.boards.ie/discussion/comment/118994278#Comment_118994278

Right its making sense now.

rob316

https://www.boards.ie/discussion/comment/118994278#Comment_118994278

I got the info on this today. No. 19 bought 18 and 20 and the land behind it, they are looking to build 3 x 2 story detached houses on the the site behind 18. They are putting the site entrance between 18 and 19. The house for sale number 18 is an absolute wreck, structural damaged to the ground floor internal walls also. Planning has so far been refused

iColdFusion

Surely this is like three times more expensive than it should be?

https://www.daft.ie/for-sale/detached-house-coosheen-schull-co-cork/3791383

Xidu

I don’t get the price in 2019. Kerry pike isn’t that convenient place.

agoodusername

https://www.boards.ie/discussion/comment/119021393#Comment_119021393

It's a lovely property alright, but I don't think that there's a location outside of South County Dublin where they'd get any interest at that price.

Hard to imagine a scenario where someone pays even a million for it. Just don't know why it's listed at that? I'm genuinely curious, any suggestions here? Or is it just a case of start high, or maybe there's no real push from the owner to sell in the near future...

Schorpio

Seems a crazy price. I'd be shocked if it gets anywhere near that.

The market is mental at the moment, and there are definitely some estate agents just chancing their arm with a huge asking to see if they get a bite.

the beer revolu

There's also a half built house just behind it. I wonder is that on the land going with the house or could you end up with a very close neighbour?

Edit: now I look at more pics, there's lots of houses around it. It's not nearly as secluded as one might imagine (not, necessarily a bad thing, but people tend to like seclusion in holiday homes).

Deub

Is it humidity/stain on the ceiling in the bedroom with single beds?

The heating system seems to be electric so not ideal to live full time.

if you have a spare 1.2M + extra for some work inside, why not. It just limits the pool of potential buyers.

notAMember

Wescht Cork is trendy out. Especially for retirees from the UK. Prices are high down there. The house itself is almost meaningless , it’s location location location. This has it’s own beach, people will picture fishing and gazing at the scenery. It’s pocket change to someone selling a flat in London or similar.

markodaly

https://www.boards.ie/discussion/comment/118925975#Comment_118925975

Kept an eye on this, bidding last night went up to 640k. Will be interesting if it will be actually sold for that price, or are people just bidding for the sake of it. Insane money for that place imo.

On a side note, the bidding on the site is not transparent. You could be bidding against the estate agent or the original owner and not know about it.

ECB has signalled to be aggressively raising interest rates from July onwards, so mortgages are going to get a hell of a lot more expensive. We will see if this slows down or crashes the market. Most people are agreed that some sort of recession is on the way.