Southside properties more likely to sell above asking price

Southside properties more likely to sell above asking price

1 Maxwell Road

Properties on the Southside of Dublin are more likely to sell above their asking price than those on the Northside, if the latest data on the Property Price Register is anything to go by.

A brief analysis of new properties added to the register last week by MyHome.ie shows that asking price increases are more justified on the south side of the capital.

A perfect example of this is in relation to 1 Maxwell Road in Rathmines, Dublin 6. The four bed end of terrace house went on the market in April for €725,000 but sold at the start of this month for €780,000.

Likewise, 7 The Drive in Woodpark, Ballinteer, Dublin 16 went for above its €365,000 asking price when the three bed semi-detached home sold for €376,000 on November 6th.

A three bed terraced house at 12 Leinster Place in Rathmines also went for above its €215,000 asking price at €230,000 on November 1.

In Rathfarnham, meanwhile, 35 Prospect Avenue, sold for its exact selling price of €325,000.

There are, of course, exceptions to the rule with 27 Foxrock Green in Dublin 18 selling for €35,000 less than its €595,000 asking price and 41 Templeville Road in Terenure selling for €30,000 less than its advertised price of €585,000.

It is a different scenario in the Northside of the city though where properties are more often than not selling below their asking price.

7 Farmleigh Avenue

The recent sale of 7 Farmleigh Avenue, Farmleigh Woods in Castleknock, Dublin 15 is a prime example.

The five bed terraced house originally went on the market at the end of February this year for €990,000. In the two months after that it dropped its asking price on three occasions – firstly to €950,000, then €890,000 and finally €840,000.

Its selling price on November 8th of €809,000 was still some way off that asking price, however, and almost €200,000 away from the €1m-plus that number 10 Farmleigh Avenue sold for in August 2010.

The same example can be found in relation to 26 Ashington Rise on the Navan Road, Dublin 7.

The 3 bed semi-detached house went on the market in August before selling on November 8th for €260,000.

Despite being the type of property that is heavily in demand amongst buyers at present, it too sold for less than its €270,000 asking price.

Meanwhile, 6 Cedarwood Grove in Glasnevin, Dublin 11 – which was initially advertised at €245,000, before dropping that price to €230,000 in June – finally sold for €208,000 on November 2nd. Likewise in nearby Finglas, 45 Wellmount Crescent sold for €4,000 less than its €89,000 asking price.

As ever, these are but from a small sample and trends vary. To keep an eye on what is happening yourself, check out our Price Register feature or download the iPhone or iPad app from here.

There are 6 comments for this article
  1. al at 8:08 pm

    The volume of sales will have to multiply by a large multiple, (3 or 4 times the amount of transactions) in order to make an informed omparison between areas and locations within areas. Beware of EA’s and affilites trying to pump up the volume once again. All EA’s and related websites need an Independant Regulatory Authority and also severe fines to back up any legislation that lays down must do’s and must don’ts IMO

  2. Paddy Purell at 3:43 pm

    Don’t be shooting the messenger, is it that we only want to her bad news that now there seems to be a st ablation of some sort in the prices we must put it down.
    Anyway as a south sider I think it’s right and proper
    Paddy Purcell D 16

  3. Bernie at 3:22 pm

    Very bad examples given for houses on the northside and only half as many as mentioned for the southside.

  4. ann maguire at 2:08 pm

    I dont think “gazumping” should be brought back/allowed in these times, when most people are on a budget.
    We’re back to the rich getting richer etc. but Estate Agents dont appear to care whatever the cost.

  5. South Side buyer. at 11:09 am

    I have a concern about this which is that EA and sellers will now be at risk of increasing their asking prices based on this analysis.
    There is a house on the South Side of the City that we are interested in buying but beleive the asking price is not comparable to comparable houses have sold for this year, the asking price is more comparable to larger houses, needing less work on the same road. Where does this leave the buyer?

  6. time_will_tell at 9:43 am

    What a loada codswallop. These are the exceptions. Doesn’t take much to look at the available info and see that almost all sales are below asking.

    All it takes is two interested bidders with more money than patience to cause these blips.

    And blips are all they are.

Leave a Reply