Outside the M50 and 3 beds are hitting €500k!!

gaius c · 17-09-2014 5:48pm

Idbatterim wrote: »

could someone tell me why the councils are complicit in the housing problem, by allowing that low a density on top of the M50 and Luas?

Because they sold off their housing stock on the cheap and now we don't have any social housing.

gaius c · 17-09-2014 5:52pm

fartyarse wrote: »

Myself and my OH received approval in principle two months ago for 450k, he earns 50k and I earn slightly less, around 48k. That's based on a 35 year mortgage, monthy repayments would be €2400, stress tested to €2,700.

Holy sweet mother'o'god.
We earn more than that and I'd have a stroke at the notion of paying more than €1500 a month on accommodation costs.

Larry Wildman · 17-09-2014 8:46pm

NZ_2014 wrote: »

I tell you whats ludicrous, your point about prices falling 60%, prices were ridiculously high to begin with.

So prices are 16% of the way back to their peak (in certain parts of Dublin only) and this justifies mild hysteria?

People need to get a grip.

mr_seer · 17-09-2014 9:08pm

Larry Wildman wrote: »

So prices are 16% of the way back to their peak (in certain parts of Dublin only) and this justifies mild hysteria?

People need to get a grip.

What do 2007 prices have to do with anything? They were completely out of kilter with reality. Current prices are all that matter. In Dublin they are totally out of kilter with people's incomes. They have risen by a quarter in 12 months. These are clear bubble symptoms and the fact that prices were even higher in the last bubble doesn't make current prices any more sustainable

Larry Wildman · 17-09-2014 9:40pm

mr_seer wrote: »

What do 2007 prices have to do with anything? They were completely out of kilter with reality. Current prices are all that matter. In Dublin they are totally out of kilter with people's incomes. They have risen by a quarter in 12 months. These are clear bubble symptoms and the fact that prices were even higher in the last bubble doesn't make current prices any more sustainable

Prices are not up by 25% in 12 months.

They're up by that since their low.

mr_seer · 17-09-2014 9:56pm

Larry Wildman wrote: »

Prices are not up by 25% in 12 months.

They're up by that since their low.

Not true. See attached

http://www.irishtimes.com/business/dublin-house-prices-rise-nearly-25-in-12-months-1.1876799

MayoSalmon · 17-09-2014 10:09pm

Larry Wildman wrote: »

Prices are not up by 25% in 12 months.

They're up by that since their low.

Couldn't be further from the truth

mr_seer · 17-09-2014 10:13pm

MayoSalmon wrote: »

Couldn't be further from the truth

The truth that anyone who has been to viewings over the last few years will know is that in many areas prices are up by 70-100% since the 'bottom' in 2012. Personally I believe that the real bottom is yet to come

ted1 · 17-09-2014 10:46pm

mr_seer wrote: »

The truth that anyone who has been to viewings over the last few years will know is that in many areas prices are up by 70-100% since the 'bottom' in 2012. Personally I believe that the real bottom is yet to come

Up more than that, I paid 210k in May 2012, the same house around the corner is 450 with plenty of intrest

jay0109 · 17-09-2014 11:11pm

Larry Wildman wrote: »

Prices are not up by 25% in 12 months.

They're up by that since their low.

Sometimes best to say nothing at all !

18-09-2014 12:09am

Augeo wrote: »

Get back to the same level? Why is the boom level relevent, boom house prices were as artificial as boi shares

quadrifoglio verde wrote: »

...
Bank of Ireland's current share price is 31.6 c a share with a market capitalisation of 10.26 billion. At the height of the boom, it's market capitalisation was around 18.5 billion. It's current market value is 55% of it's all time high. Over the last 2 years bank of ireland has risen approx 364%.....

Which backs up the point I made

cheers

quadrifoglio verde · 18-09-2014 7:56am

Augeo wrote: »

Which backs up the point I made
cheers

Yes but if you look at the the current swings in boi...they're heading back that way to those artificial levels.

grew_tall · 18-09-2014 1:46pm

Larry Wildman wrote: »

Prices are not up by 25% in 12 months.

They're up by that since their low.

you havent a breeze , houses are only around 10% off there all time highs in premium locations of south dublin

they are up 50% in value across the capital as a whole since the spring of 2012 alone

the actual bottom was very short lived and things immedietely picked up as soon as the goverment took office in spring 2011

grew_tall · 18-09-2014 2:10pm

Larry Wildman wrote: »

Prices are not up by 25% in 12 months.

They're up by that since their low.

you havent a breeze , houses are only around 10% off there all time highs in premium locations of south dublin

they are up 50% in value across the capital as a whole since the spring of 2012 alone

the actual bottom was very short lived and things immedietely picked up as soon as the goverment took office in spring 2011

irish people will always buy property if they can , not saying thats a good thing but its a fact

Maximus_1 · 19-09-2014 12:30pm

Quote:

Myself and my OH received approval in principle two months ago for 450k, he earns 50k and I earn slightly less, around 48k. That's based on a 35 year mortgage, monthy repayments would be €2400, stress tested to €2,700.

For the love of God step back from the brink of insanity! That to me is bat-sh1t crazy. On a personal level I like being able to sleep at night, €2400 a month on that kind of money will always be mad, boom, bust or anytime.

NZ_2014 · 19-09-2014 7:22pm

Maximus_1 wrote: »

Quote:
Myself and my OH received approval in principle two months ago for 450k, he earns 50k and I earn slightly less, around 48k. That's based on a 35 year mortgage, monthy repayments would be €2400, stress tested to €2,700.

For the love of God step back from the brink of insanity! That to me is bat-sh1t crazy. On a personal level I like being able to sleep at night, €2400 a month on that kind of money will always be mad, boom, bust or anytime.

2400 quid by 12 months by 35 years is €1,000,088.00.

Seems like a lot. Surely you could rent a half decent place for €1600 quid a month, and then save 800 a month. In ten years that`ll amount to almost 100k.

Just thinking as I write this, I suppose its not a huge amount and that 450k house could easily have increased by 200k in that time, or reduce by 200k, depending on what happens

imitation · 19-09-2014 8:01pm

Maximus_1 wrote: »

Quote:
Myself and my OH received approval in principle two months ago for 450k, he earns 50k and I earn slightly less, around 48k. That's based on a 35 year mortgage, monthy repayments would be €2400, stress tested to €2,700.

For the love of God step back from the brink of insanity! That to me is bat-sh1t crazy. On a personal level I like being able to sleep at night, €2400 a month on that kind of money will always be mad, boom, bust or anytime.

For 35 years. The average life sentence is 17 years

Larry Wildman · 19-09-2014 8:13pm

NZ_2014 wrote: »

2400 quid by 12 months by 35 years is €1,000,088.00.

Seems like a lot. Surely you could rent a half decent place for €1600 quid a month, and then save 800 a month

€1,600 a month for 35 years is €672,000. €800 a month for 35 years is €336,000 and cash is predicted to deliver negative real returns for a generation.

And for €1,000,000 over the same period I can own a real asset outright that has a market value of €450,000 today and cover my accomodation costs.

I think that the sensible move is to go for the latter.

ted1 · 19-09-2014 8:14pm

imitation wrote: »

For 35 years. The average life sentence is 17 years

At a cost of 65k a year. What's your point?

Larry Wildman · 19-09-2014 8:19pm

NZ_2014 wrote: »

and that 450k house could easily have increased by 200k in that time, or reduce by 200k, depending on what happens

It's mad to suggest that a house worth €450k today could be worth €250k in 35 years time.

NZ_2014 · 19-09-2014 8:34pm

Larry Wildman wrote: »

It's mad to suggest that a house worth €450k today could be worth €250k in 35 years time.

If you read my post carefully, I was talking about a ten year period of price changes.

What is mad about it anyway! Nobody knows whats gonna happen over the next 35 years.

But yeah your right you`ll have an asset at the end of the term.

MouseTail · 19-09-2014 9:13pm

NZ_2014 wrote: »

What is mad about it anyway! Nobody knows whats gonna happen over the next 35 years.

It is inconceivable, well bar armageddon, in which case the value of your home will not be worth worrying about.

Third_Echelon · 22-09-2014 6:58pm

JoeyJJ wrote: »

On the boarder of the pale, just outside that too

Actually, they are inside the pale... The old pale runs through the far end of the Glencairn/Gallops estate. Nice bit of local history :-) (I think it's still visible as a bit of a ditch).

I am renting in this estate at the moment, and it is a lovely place to live. The Luas on the doorstep is so handy, but we are moving as the rents are going crazy there at the moment. Sad to leave the area as I've lived there for 7 years and is very handy for the M50, Dundrum, Dublin Mountains, Dun Laoighre etc, but no way would I pay half a million! That is just crazy money....

22-09-2014 7:59pm

not quite sure why people would pay this amount for houses in an estate where you can already buy a second hand house cheaper.

fair enough, they might be A rated for BER etc but surely you couldnt save 100,000 euro in heating bills over the course of a mortgage!

its actually a great place to live, this 'outside the m50' rubbish is crazy!
its not clonee, tyrrelstown, rathcoole or any of these places miles away.
its 20 mins off peak driving to dublin city centre and the luas is right beside it.

there are plenty of 2nd hand houses in the area for cheaper, why would someone pay this much more for a new house? they actually werent even as nice as the houses there already!

oh, and i live in the estate and will probably sell in a year or two. just because it suits me, dont understand why these were so expensive though?

quadrifoglio verde · 22-09-2014 8:33pm

bubblypop wrote: »

not quite sure why people would pay this amount for houses in an estate where you can already buy a second hand house cheaper.

fair enough, they might be A rated for BER etc but surely you couldnt save 100,000 euro in heating bills over the course of a mortgage!

its actually a great place to live, this 'outside the m50' rubbish is crazy!
its not clonee, tyrrelstown, rathcoole or any of these places miles away.
its 20 mins off peak driving to dublin city centre and the luas is right beside it.

there are plenty of 2nd hand houses in the area for cheaper, why would someone pay this much more for a new house? they actually werent even as nice as the houses there already!

oh, and i live in the estate and will probably sell in a year or two. just because it suits me, dont understand why these were so expensive though?

Rathcoole is a 20 mins drive from the city centre and the Luas is 2 mins down the road! As is tyrrelstown. People need to realise that dublin is really really small.

Icepick · 22-09-2014 9:15pm

fartyarse wrote: »

Myself and my OH received approval in principle two months ago for 450k, he earns 50k and I earn slightly less, around 48k. That's based on a 35 year mortgage, monthy repayments would be €2400, stress tested to €2,700.

50k gross?
That's insane

iguana · 22-09-2014 10:52pm

NZ_2014 wrote: »

2400 quid by 12 months by 35 years is €1,000,088.00.

That's assuming interest rates stay at their current, historically low - can't go any lower, rates. Which is about as likely as a bear laying golden eggs.

fartyarse · 22-09-2014 11:37pm

It's me again, just catching up on this thread!

For all the people roaring at me that I'm mad, i'd just like to clarify that we only got approval in principle, we haven't actually taken out that mortgage! I was merely answering the previous poster who asked how much she would need to be earning to borrow 450k.

Larry Wildman · 23-09-2014 7:12pm

iguana wrote: »

That's assuming interest rates stay at their current, historically low - can't go any lower, rates. Which is about as likely as a bear laying golden eggs.

Interest rates are likely to stay low for a generation.

They have to because of debt levels.

mr_seer · 23-09-2014 9:20pm

Larry Wildman wrote: »

Interest rates are likely to stay low for a generation.

They have to because of debt levels.

Ireland lost control of its monetary policy when it joined the Eurozone so our debt levels don't matter a fcuk to them. Rises are inevitable over a 5 year horizon

Outside the M50 and 3 beds are hitting €500k!!

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