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 Post subject: Orwell Park, Rathgar As A Bell Weather of High-End Property
PostPosted: Mon Sep 01, 2014 12:21 pm 
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Joined: Apr 27, 2014
Posts: 400
Someone who aspires to live in Orwell Park, Rathgar mentioned to me sometime ago that these houses are rarely sold and that people tend to live in them for generations.

The BBC has produced a number of excellent series on streets of houses in various parts of the UK and the generations of families that lived in them and how the streets developed. Orwell Park could be the subject of a similar series by RTE.

To me, this did not make sense. I can recall many houses on the road being sold over the years. So, ever the old to seek to go to primary sources, I decided to spend a few hours doing some analysis to examine the topic further.

I am sure that SoCoDu could do a better job than me of this.

The post is probably aimed at the more affluent and Dublin-based posters on this site as well as interested bystanders like me.

It is a very mixed road with detached and semi-detached houses, two and three storey, of mixed sizes with the older houses dating from the 1880s to the 1920s and newer houses dating from mid-1990s to 2014. The garden sizes vary substantially.

There has also been quite a bit of development on the road. There is a large undeveloped site or around one acre beside number 58 that has been the subject of a number of planning applications.

This summarises the various developments:

Image

One side of the road the back gardens are mainly North or North West facing while on the other side they are South or South East facing.

When sold, some houses were in very good condition while others when just half-built shells in the case of one house - 28 Orwell Park (otherwise, 30/31 Orwell Park), which was bought in 2012, completed and sold in 2013 - or in very poor condition such as Lisnoe, 58 Orwell Park, Rathgar.

Unlike nearby streets such as Rathgar Road, none of the properties are protected.

So all this makes any comparison of prices for which these houses were sold inaccurate.

Also, houses sold before December 2010 would have attracted stamp duty at the older and much higher rates. So the effective cost to the buyer would be very different.

To me the road is quite narrow with a lot of traffic. But to others it clearly represents an aspiration.

However, having made all those points, I feel that the road can be used as a bell weather for property prices at the high-end. For a road with around 70 houses (excluding Orwell Banks, Orwell Park Square, and Orwell Woods – note that several houses at the start of Orwell Woods have an Orwell Park address probably because of the original houses that were demolished to build them) a surprisingly large number have been sold and continue to be sold in the last 14 years – just under a third. There are probably very few other roads in Dublin where the same proportion of houses have been sold as individual residential units in the same interval.

There is currently one house that is for sale – 12 http://www.myhome.ie/residential/brochu ... -6/2817434 for auction with an estimate of €1,750,000 - and one that has sold – 14 http://www.myhome.ie/residential/brochu ... -6/2799055 with an asking price of €3,750,000 -but whose price has not appeared on the price register. It will be interesting to see what these sell for.

There is the infamous Sherry Fitzgerald add from Oct 2007 (http://www.sherryfitz.ie/PDF/IT_Oct18.pdf which they really should delete from their web site) where there is one house listed on Orwell Park – number 7 – listed for auction at the now (and even then in my view) utterly extraordinary and scrotum tightening price of €6 million. This really was the last Cheynes Stokes gasp of the expiring Celtic Tiger. That price would have incurred stamp duty of €511,000. Now, this price was never achieved. But it was the aspiration of the owner and the estate agent. Some underbidder really dodged a magazine of bullets that day. The house remains unsold to this day, the owner having made several half-hearted attempts to sell over the years by trailing his asking price behind a rapidly falling market.

Bear in mind that this is one of the smaller two storey, semi-detached houses with a relatively small north-facing back garden. The house backs onto some light industrial units. The house was in very good condition, with a large wrap-around kitchen/conservatory.

That same house was for sale in July 2008 for €4.75m - http://www.independent.ie/life/home-gar ... 59255.html

Quote:
Edwardian family home in Rathgar
Dublin 6, five-bed, elegant family house, Orwell Park, Rathgar €4.75m


The house could have been yours for €1.6 million in 2012, around when the market reached its bottom, or €1.622 million including stamp duty. The second asking price represents a drop of 75.09% from the first when you compare the stamp duty inclusive prices of €6,511,000 and €1,622,000.

If recent apparent house price increases are true, then it could sell for a higher price in the future.

DNG had an even more egregious brochure for 51,52 and 53 - http://staging.lisney.com/Files/Orwell% ... 104420.pdf. The brochure does not mention money.

On the directory http://staging.lisney.com/Files/ , the brochure is dated 28/9/2009.

To quote the gushing nonsense:

Quote:
The Three Ages of Man.

The Three Pyramids of Giza.

The Three Tenors.

Isn’t it amazing how many of the great things
in life come in threes?

At Three Houses on the Park, you have a
unique opportunity to acquire a brand new period-style
home of quite stunning specification and quality.

The best things in life come in 3’s.

A home offering the superb quality of life
afforded by one of the capital’s most exclusive
addresses.

Your lifestyle will be further enhanced by a
location just a short distance from the centre of Dublin.

Three Houses on the Park.

One unique opportunity.


Those indeed were the days.

These three houses sold for between €6 million and €7 million each in 2007 - http://www.irishtimes.com/newspaper/pro ... 32643.html

Quote:
ORNA MULCAHY, Property Editor Fewer properties are coming on the market and some are being withdrawn altogether as buyers wait for the bottom to appear

AFTER TWO years of over-supply in the Dublin second-hand housing market there are finally signs that the glut is ending. Would-be sellers are holding off putting their homes for sale at today’s knock-down prices, while others have withdrawn their property altogether, postponing a sale until conditions improve. The result is a tightening of supply that could stabilise prices in the coming months.

Market data points to a dramatic slowdown in new supply, following price erosion of between 35 and 50 per cent.

The number of fresh properties coming on the market in January was 60 per cent down on previous years, according to property website myhome.ie which tracks new instructions with the country’s estate agencies.

According to myhome.ie chief executive Jim Miley, the number of properties offered for sale in January was “probably a third of what it was in previous years”.

This matches anecdotal evidence from estate agents who say that they are getting far fewer calls from potential sellers. One Dublin agency which has several branches across the city says it received less than 40 new instructions in January, compared to around 160 in January 2008.

Sherry FitzGerald, the city’s largest estate agency chain, says its new instructions were down by “about 32 per cent” in January. However, the agency has also seen an increase in sellers withdrawing their property from the market unsold.

“The number of properties that were on the market, but vendors withdrew, has increased by 46 per cent in January,” says MD Michael Grehan. “In some cases, because interest rates have dropped, peoples’ holding costs have halved. Maybe people are happier to hold on to property now that pressure has eased,” he said.

Meanwhile a report from Goodbodys Stockbrokers shows that Dublin now has the lowest supply of second-hand homes for sale in the country. It shows that 1.2 per cent of the second-hand housing stock is on the market in the capital, which contrasts with 3.8 per cent in Galway, 2.6 per cent in Cork, 4.9 per cent in Leitrim, and 6.1 per cent in Cavan.

Traditionally, many homeowners wait until the spring is well advanced before putting their home for sale with April and May being the busiest months of the year for transactions. This year there are indications that supply will be limited, particularly at the top end of the market. There is unlikely to be the usual spring rush of houses, apart from those being sold because of what estate agents are calling the “three Ds” – Death, Divorce and Difficulties of a financial nature. But at least one of these categories is also being restricted – in the case of divorce, judges have stopped ordering family homes to be sold, on the basis that they are unlikely to sell.

The lack of fresh supply is most obvious at the mid to upper end of the market with supply and sales at starter home level relatively strong.

“There has been no significant fall off at the more affordable end,” says Simon Ensor, a director at Sherry FitzGerald. “That is where the activity is at the moment. Sellers know that they won’t get last year’s price, but they also know it’s a good time to trade up.

“However, in the middle sector of the market – between €600,000 and €1.5m – there has been a significant fall-off in supply, and it’s most noticeable of all at the top end of the market, in the €2.5m-plus bracket where there is a very limited supply coming on. If people are being told that their house is worth €2m, when at one stage it was worth €3m, that is a difficult pill to swallow.”

Ensor points out that for most people thinking of trading down, conditions are not favourable. “You are going from a quiet market to a more active market, and the price differential and the potential gain has narrowed.”

But for those planning to trade up, the narrowing differential is an incentive to move while prices are depressed. “Trading up makes huge sense at the moment. Trading down doesn’t.”

However, it is still difficult to “motivate people to trade up”, says Pat Mullery of Douglas Newman Good. “It is a brilliant time to move up the property ladder if people have the confidence. The old supply is being reduced in price, and the new supply is coming at much more realistic levels.”

However, he says, buyers are still extremely cautious. “There are very few people in normal circumstances out there, sitting at home saying to each other, ‘let’s move house’.”

He is hoping to tempt buyers to view one upscale property that is new on his books – 32 Orwell Park in Dartry. The 279sq m (3,000sq ft) detached house is in good decorative order but has plenty of scope to extend. The asking price is €3.6m.

Two years ago, Sherry FitzGerald sold a semi-detached house on the same road for €4.6m, while across the road from number 32, two large newly built detached houses sold for an estimated €7m and €6.2m apiece.


The most expensive asking price – I cannot find if it sold – was number 34 which had an asking price of €7.25 million in 2007:

http://www.highbeam.com/doc/1P2-24895632.html

Quote:
6/9/2007

The Progressive Democrats first got together around the dining table of this house in Rathgar, now on the market with an AMV of €7.25m. Fiona Tyrrell reports.

A large Edwardian house in Rathgar has good party credentials - it can comfortably host 70-plus people for drinks - and has the distinction of being the location of the founding of the Progressive Democrats political party.

PD founder member Paul Mackay and his wife Lila are selling the Dublin 6 house, a detached five-bedroom home dating from 1910.

Kintullagh, 34 Orwell Park is an impressive house located on one of the best roads in the area.


The stamp duty on this asking price would be €624,000 giving a total cost of a massive €7,874,000.

This attempts to identify the main houses sold over the years, including their plot sizes:

Image

In my view, the sale of number 27 for €2,150,000 in 2013 represented the best bargin of all these sales.

This summarises the details of the sales price and asking price for various houses on the road over the last 16 years:

Code:
Type                 Number          Date         Price      Incl VAT    Stamp Duty         Total
Sale                       1    24/02/2006    €3,000,000    €3,000,000      €241,000    €3,241,000
Sale                       2    16/07/1998      £480,000      £480,000       £14,000      €627,380
Sale                       5    23/11/2003    €2,150,000    €2,150,000      €165,000    €2,315,000
Sale                       9    13/07/2012    €1,850,000    €1,850,000       €27,000    €1,877,000
Sale                      10    17/03/2000    £1,700,000    £1,700,000      £124,000    €2,316,480
Sale                      17    26/01/2001    £1,250,000    £1,250,000       £84,000    €1,694,180
Sale                      17    24/06/2011    €1,850,000    €1,850,000       €27,000    €1,877,000
Sale                      20    02/07/2012    €1,350,000    €1,350,000       €17,000    €1,367,000
Sale                      22    20/08/2013    €1,750,000    €1,750,000       €25,000    €1,775,000
Sale                      25    30/05/2012    €1,375,000    €1,375,000       €18,000    €1,393,000
Sale                      27    30/05/2003    €3,200,000    €3,200,000      €259,000    €3,459,000
Sale                      27    17/01/2013    €2,150,000    €2,150,000       €33,000    €2,183,000
Sale                      28    03/08/2012    €1,549,050    €1,549,050       €21,000    €1,570,050
Sale                      28    13/09/2013    €2,365,000    €2,365,000       €37,000    €2,402,000
Sale                      41    10/03/2000      £540,000      £540,000       £20,000      €711,200
Sale                      47    15/07/2014 €1,321,585.90    €1,500,000       €20,000    €1,520,000
Sale                      48    26/07/2013      €925,000    €1,049,875       €11,000    €1,060,875
Sale                      48    03/09/2013   €814,977.37      €924,999        €8,000      €932,999
Sale                      51    18/04/2013    €2,400,000    €2,724,000       €44,000    €2,768,000
Sale                      54    26/07/2013    €1,660,000    €1,660,000       €23,000    €1,683,000
Sale                      58    30/01/2013    €1,750,000    €1,750,000       €25,000    €1,775,000
Sale                      67    21/07/2000    £1,800,000    £1,800,000      £133,000    €2,454,910
Sale                      68    19/10/2003    €1,100,000    €1,100,000       €12,000    €1,112,000
Sale                      68    04/05/2012    €1,550,000    €1,550,000       €21,000    €1,571,000
Sale                    47A     11/10/2013      €828,194      €940,000        €9,000      €949,000
Sale                    49A     21/08/2013      €807,401      €916,400        €8,000      €924,400
Sale                    50A     21/08/2013      €792,952      €900,001        €8,000      €908,001
Sale                  51-53     17/02/2012 €3,251,144.74    €3,690,049       €64,000    €3,754,049
Asking                    34    06/09/2007    €7,250,000    €7,250,000      €624,000    €7,874,000
Sale                      51          2007    €6,000,000    €6,000,000      €511,000    €6,511,000
Sale                      52          2007    €6,000,000    €6,000,000      €511,000    €6,511,000
Sale                      53          2007    €6,000,000    €6,000,000      €511,000    €6,511,000


The price register data for 51-53 is clearly an error. These three houses have not been for sale for several years.

These are extracts from relevant newspaper articles on some of the prices.

http://www.independent.ie/business/pers ... 31548.html

Quote:
26/04/2009

Rathgar, south Dublin, Capel Homes director Edward Keegan is selling his Orwell Park home. The house, which has been lavishly refurbished, was bought for around €3.5m in 2005 and is selling now for €3.7m -- a small loss if stamp duty is taken into account.


http://www.independent.ie/business/iris ... 12130.html

Quote:
21/05/2006

FORMER Shell Ireland chairman Michael Forde is selling his Victorian double-fronted pad on Orwell Park in Rathgar. The restored period home is being sold by Sherry FitzGerald who are quoting an AMV of ?4m.


1 Orwell Park

http://www.independent.ie/irish-news/vi ... 01314.html

Quote:
24/02/2006

Victorian house sells for more than 3m

A VICTORIAN residence at 1 Orwell Park, Rathgar, Dublin 6, sold under the hammer yesterday for an undisclosed figure in excess of its 3m pre-auction price guideline. The property - sold by Douglas Newman Good - has five bedrooms plus a study.


2 Orwell Park

http://www.independent.ie/unsorted/prop ... 80582.html

Quote:
16/07/1998

Hamilton Osborne King : 2 Orwell Park, Rathgar sold £480,000.


5 Orwell Park

http://www.independent.ie/unsorted/prop ... 37333.html

Quote:
23/11/2003

5 Orwell Park, Rathgar, Dublin 6. Guide 1,100,000, period residence, in need of refurbishment. Sold at 2,150,000.


5 Orwell Park

http://www.independent.ie/life/home-gar ... 59255.html

Quote:
4 Jul 2008

Edwardian family home in Rathgar
Dublin 6, five-bed, elegant family house, Orwell Park, Rathgar €4.75m


10 Orwell Park

http://www.independent.ie/unsorted/prop ... 22221.html

Quote:
17/03/2000

A two-storey over garden level semi-detached period house at No 10 Orwell Park, Rathgar provided this week's highlight selling for £1.7m at a Lisney auction.


10 Orwell Park

http://www.independent.ie/unsorted/prop ... 00462.html

Quote:
26/01/2001

Location: Orwell Park, Dublin. Price: £1.25m. Description: Victorian double-fronted semi-detached building.


27 Orwell Park

http://www.independent.ie/unsorted/prop ... 49147.html

Quote:
30/05/2003

Number 27 Orwell Park was highest priced property going to the rostrum yesterday. Agents Lisney were guiding €2.75m for this detached home with a coach house on quarter of an acre and withdrew, now quoting €3.2m


41 Orwell Park

http://www.independent.ie/unsorted/prop ... 21758.html

Quote:
10/03/2000

No 41 Orwell Park, Rathgar, Dublin 6 was withdrawn at £540,000 and is under negotiation through Douglas Newman Good.


46 Orwell Park

http://www.independent.ie/life/home-gar ... 76981.html

Quote:

30/09/2011

46 Orwell Park, Rathgar €1.25m


67 Orwell Park

http://www.independent.ie/unsorted/prop ... 14338.html

Quote:
21/07/2000

67 Orwell Park, Rathgar, sold after £1.8m, joint agents Harper O'Grady.


68 Orwell Park

http://www.independent.ie/unsorted/prop ... 36233.html

Quote:
19/10/2003

68 Orwell Road, Rathgar, Dublin 6. Guide 1,100,000, detached, currently in four two bed units. Withdrawn at 1,000,000, sold after for higher.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 12:44 pm 
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It is such a lovely road but carries too much traffic for me to think of blowing my Lotto win there


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 12:47 pm 
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Surely some road somewhere in D4 would be more appropriate as a bell-weather of high-end property.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 1:16 pm 
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Joined: Feb 27, 2013
Posts: 542
Great work ChickenParmentier! I wish all desirable roads had this sort of treatment. You've put down a record that will be of use to many. Thank you.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 4:19 pm 
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Joined: Aug 15, 2014
Posts: 196
Pill wrote:
Surely some road somewhere in D4 would be more appropriate as a bell-weather of high-end property.



It depends. I would have thought that the embassy roads in D4 would be more indicative of madness and frenzy than the slightly more sober Orwell pk.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 5:03 pm 
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jasonking wrote:
It is such a lovely road but carries too much traffic for me to think of blowing my Lotto win there


couldnt agree more, whats the attraction of a main road? Lovely houses but surely thats a huge negative.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 5:26 pm 
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Lovely piece of work. Thanks Chicken P.

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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 6:31 pm 
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Joined: Apr 8, 2008
Posts: 742
ps200306 wrote:
Lovely piece of work. Thanks Chicken P.


Another great piece to add to your statistical analysis from a couple of weeks back.

Coincidentally (and pedantically): it's bellwether. The definition may be apropos:

A bellwether; one that leads or indicates trends. The term is derived from the Middle English bellewether and refers to the practice of placing a bell around the neck of a castrated ram (a wether) leading his flock of sheep. The movements of the flock could be noted by hearing the bell before the flock was in sight.

There's certainly nothing so emasculating as an Orwell Park mortgage...


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Mon Sep 01, 2014 10:48 pm 
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Great piece to put together. Thanks. Could be a template for other roads, estates.

I drive down Orwell park alMost every day. Houses and trees I like but road noise no. I agree there has been lots of turnover in the last few years. The quiet more tucked away places in the vicinity are likely to have lower turnover in property and are the ones more likely to stay in the same family for more than one generation IMO.

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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Tue Sep 02, 2014 12:32 am 
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Great piece of work that....and I even had to look up the recipe for a Chicken Parmentier and all :nin

The problem with large houses is that the amount of money spent on some of them (post acquisition) is highly variable and sometimes stupendously large and then occasionally stupendously tasteful after all that money was spent...and sometimes not.

So the before/after analysis is highly subjective ( and taste is a moving concept as the 1970s should have taught us) and the value add is not linear as a consequence...just saying.

2Packs oldest ally, the Zeitgeist, can trip up the EVEN the very best..obviously not 2Pack who is a perennial and nailed up there arbiter of taste but I refer to largely similar albeit somewhat lesser beings who suddenly over Laura Ashley the puddins in a fleeting moment of absence of the sort that would not trouble 2pack.

However as the weather is promised warm for the weekend I might lend you my new octocopter drone for a proper shufty thru those open windows like. :D

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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Wed Sep 17, 2014 10:15 pm 
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A bit late to the party on this - I don't read this part of the forum (though I probably should)!

Great job.

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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Sat Jan 17, 2015 2:02 pm 
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This is an update on this previous post, misspelling notwithstanding. There are been some recent sales and other developments that I have included.

Number 14 was sold for a whopping €3,795,000 – the asking price - on 28/08/2014 and now appears to be being completely gutted. It appeared to be around the same size as number 58 which sold for €1,775,000 in 30/01/2013 and which itself was completely gutted. Nunber 58 had a large south-facing garden while number 14 had a north facing garden. Number 12, with a north-facing back garden, sold for €1,977,750 on 15/12/2014, more than the asking price of €1,750,000. This house needs a lot of work. Number 54 sold for €1,660,000 on 26/07/2013. This was a much larger house than number 12 with a much larger plot size – about a quarter of an acre – and a large south-facing back garden.

So prices at the high-end definitely appear to be increasing – 40% increase from the lows of 2012. Comparisons are difficult because of the variety of house sizes and types on the road.

The current prices are still nowhere the mad levels of 2006-2007. They are still at least 50% below these levels.

The development in Orwell Park Square, behind the new houses in 47-50, is continuing and are all selling in he million euro range for 4-bed semi-detached houses.

Development has finally started n the site at number 59 after 12 years from the initial planning application. Details can be seen at http://www.dublincity.ie/swiftlg/apas/r ... eTabNo=2&b.

This is for 21 units in 2 4-storey blocks – 12 x 2-bed and 1 x 3-bed apartments and 8 x 2-bed townhouses with 35 space basement car park. This will

This shows an updated view of property sales on the road:

Image

The recorded sales for houses on the road, excluding the new houses with the exception of number 48 which was sold as a new house and then resold, are:

Code:
Number               Date          Price     Stamp Duty          Total
2               16/07/1998       £480,000        £14,000       €627,380
41              10/03/2000       £540,000        £20,000       €711,200
10              17/03/2000     £1,700,000       £124,000     €2,316,480
67              21/07/2000     £1,800,000       £133,000     €2,454,910
17              26/01/2001     £1,250,000        £84,000     €1,694,180
27              30/05/2003     €3,200,000       €259,000     €3,459,000
68              19/10/2003     €1,100,000        €12,000     €1,112,000
5               23/11/2003     €2,150,000       €165,000     €2,315,000
1               24/02/2006     €3,000,000       €241,000     €3,241,000
51                    2007     €6,000,000       €511,000     €6,511,000
52                    2007     €6,000,000       €511,000     €6,511,000
53                    2007     €6,000,000       €511,000     €6,511,000
17              24/06/2011     €1,850,000        €27,000     €1,877,000
51-53           17/02/2012     €3,690,049        €64,000     €3,754,049
68              04/05/2012     €1,550,000        €21,000     €1,571,000
25              30/05/2012     €1,375,000        €18,000     €1,393,000
20              02/07/2012     €1,350,000        €17,000     €1,367,000
9               13/07/2012     €1,850,000        €27,000     €1,877,000
28              03/08/2012     €1,549,050        €21,000     €1,570,050
27              17/01/2013     €2,150,000        €33,000     €2,183,000
58              30/01/2013     €1,750,000        €25,000     €1,775,000
51              18/04/2013     €2,400,000        €44,000     €2,768,000
54              26/07/2013     €1,660,000        €23,000     €1,683,000
22              20/08/2013     €1,750,000        €25,000     €1,775,000
28              13/09/2013     €2,365,000        €37,000     €2,402,000
48              06/03/2014     €1,097,200        €10,972     €1,108,172
14              28/08/2014     €3,795,000        €37,950     €3,832,950
12              15/12/2014     €1,977,750        €19,778     €1,997,528


For a single road with 70 or so existing houses, the number of sales and redevelopments is extraordinary – over 60 sales and new developments.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Thu Feb 05, 2015 3:34 pm 
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Migrant

Joined: Feb 4, 2015
Posts: 2
Really enjoyed this post. I know Orwell Park very very well after several years of living here (just renting unfortunately).

Did you consider adding Dartry House to the mix? Ok, it's slightly off the Orwell Park and now Orwell Park Square has been built, it seems less connected to the road itself. Still, it's been sold recently and is certainly part of the 'story' of Orwell Park.

As lovely as Orwell Park is, the marketing from Estate Agents always amuses me. Perhaps this is always the case when you live somewhere - you have an insight into the area problems etc.

if you don't mind me sharing, I'd like to add some context for people who may or may not know the Road.

Good
* The trees are one of the best features and in Summer make a beautfiful sight
* The houses themselves are largely beautiful and there have been some particularly nice refurbs. I'll probably never own one but they're lovely to just look at while strolling around
* Outside rush hour, it's a very quiet and peaceful road
* Not many realise that most of the houses on the southerly side overlook the Park. I'd say every house from Orwell Bank up to Orwell Woods has a view of trees and the mountains.
* Furthermore, between the park and the back of the houses, there is a generous wooded area which acts as a buffer and while not private, access is difficult enough and provides a nice mini nature reserve
On the North side of the Road, many of the houses back onto St Lukes hospital grounds.

Bad
* There's a mini crime way plauging the area right now. I know Orwell Woods has had several burgalries since Dec 2014. Nearby Dartry and Southill (Milltown) are the same. I don't know how affected the larger Orwell Park houses are but interestingly, I spotted a few CCTV signs and have seen a few private security vans parked up.
* Traffic is a nightmare between the usual hours. Where isn't right? But O.Pk has several house renovations going on right now which means vans on both sides which means almost 1 lane of traffic
* As the OP pointed out, there's a large-ish development being built right now on the only remaining undeveloped spot. I think they're apartments and some townhouses. I'm not convinced this is a great thing but depends on the execution / design.
* The most recent built houses (Orwell Park Square) which were built on the grounds of Datry House are IMHO way too dense and clearly squeezed in. Has anyone seen the gardens? They're literally postage-stamp. Ok, so this doesn't affect the Road as such but I feel that half the houses should have been built. The site was much nicer when it was just Dartry House and the (convent?) buildings around the grounds.


Having said all that, if I won the Lotto, of course I'd like to live on Orwell Park. :) Perhaps Palmerston Park pips it a little in some areas but it's a fine road.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Wed Jul 08, 2015 6:59 am 
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Speculator

Joined: Apr 27, 2014
Posts: 400
32 Orwell Park, Rathgar, Dublin 6

€3,200,000 - 4 Bed Detached House 303 sq.m. / 3,262 sq.ft. on c.0.11 Ha / 0.28 acres plot.

http://www.myhome.ie/residential/brochu ... -6/3262949

On the side of the road with north-facing back gardens.

Still only asking 44% of what the neighbouring house in number 34, which is very roughly comparable, was asking (but never sold) in Sept 2007 - €7,250,000 when the 9% marginal stamp duty rate applied.

84% of the price number 14 got in Aug 2014 - €3,795,000 - also on the north side of the road. This was bought by one of the Car Trawler web site owners and was subsequently gutted.


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 Post subject: Re: Orwell Park, Rathgar As A Bell Weather of High-End Prope
PostPosted: Wed Jul 08, 2015 12:43 pm 
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Under CAB Investigation
User avatar

Joined: Feb 21, 2012
Posts: 2181
Location: South Dublin
ChickenParmentier wrote:
84% of the price number 14 got in Aug 2014 - €3,795,000 - also on the north side of the road. This was bought by one of the Car Trawler web site owners and was subsequently gutted.

All things considered, 14 actually didn't seem to "need" anything at the time, seemed to be in good condition with good original features - especially all the lovely wood work. The works seemed to have been completed in a short period of time (just a few months), compared to the 2+ years spent renovating similar houses on the likes of Shrewsbury Road, hence I imagine the work was mostly cosmetic to suit the new owner's tastes. 14 is often considered the best house on the road and the market was stronger then than now - I can't see 32 achieving €3.2m.

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