Why are house prices in Fingal not increasing?

Sipe

Hi

House prices in Fingal only rose by circa 3% in the last year. This is much lower than the average for Dublin and the ove country

Thx
S.

kippy

Sipe wrote: »

Hi

House prices in Fingal only rose by circa 3% in the last year. This is much lower than the average for Dublin and the ove country

Thx
S.

Lies damned lies and statistics as they say.....

LincolnHawk

Selling prices or asking prices?

Sipe

LincolnHawk wrote: »

Selling prices or asking prices?

Reports in May: The highest house price growth was in Dublin city, at 10.7 per cent, whereas the lowest growth was in Fingal, with house prices rising just 2.2 per cent.


https://www.google.se/amp/s/www.irishtimes.com/business/economy/irish-property-prices-climb-nearly-10-in-year-to-march-1.3080947?mode=amp

Victor

Access would be one issue - much of the demand is by people working in the city centre, who want to live in the city centre.

The general balance of supply and demand will also be an issue.

Giblet

I wish I could live there but the fact that I have to rely on public transport means it's difficult to get to work on the south side of the city. Seriously though, some serious value to be had in Finglas, it's within Dublin after all. Hope it's a nice place, I only earn 3x the average salary though so I know I can't afford to live anywhere near a job that pays that much. I can't wait to get on the ladder though so queuing up with the 100's of other people at 7am at Broombridge ( The epicentre of the up-and-coming) who are all going to those top flight jobs is just part and parcel. The Right Stuff indeed.

johnnyskeleton

Giblet wrote: »

Hope it's a nice place, I only earn 3x the average salary though so I know I can't afford to live anywhere near a job that pays that much.

Im not sure if this is sarcasm or a typo but if someone who earns 3x the average salary cant afford to live near their workplace then something has gone horribly wrong.

Giblet

johnnyskeleton wrote: »

Giblet wrote: »

Hope it's a nice place, I only earn 3x the average salary though so I know I can't afford to live anywhere near a job that pays that much.

Im not sure if this is sarcasm or a typo but if someone who earns 3x the average salary cant afford to live near their workplace then something has gone horribly wrong.

I wish I could Tipex reality.

Arthur Daley

Real Incomes are not rising as such. So why should accomodation costs.

The 2004-2009 period showed that costs of shelter must eventually align to the incomes of the ordinary Joe and Joanne.
When our elites just wish and wish they can keep charging more and more, or bring out wheezes like 100% mortgages in denial of many people's basic economic reality, it is just delaying the age old, hard unquestionable reality of supply and demand.

As we keep being reminded by our politicians, there is a huge supply of people aspiring to a house. There is a limited supply of people able to afford a house at the prices being asked.

Victor

Arthur Daley wrote: »

Real Incomes are not rising as such.

Really? There used to be 450,000 unemployed. That is now much reduced. Those people have gone from no surplus income to paying rent and having surplus income.

cronos

Fingal is such a big area. Think it would be more relevant to get a breakdown of area by area.

Sleepy

Exactly cronos, living in the area it's easy enough to see that prices have been rising steadily enough in Donabate and Skerries but I'd presume the likes of Blanchardstown and Finglas would lag a bit behind

ThisRegard

Blanchardstown are increasing, there were never really an issue with demand around there from what I can see.

Geuze

Giblet wrote: »

Seriously though, some serious value to be had in Finglas, it's within Dublin after all. Hope it's a nice place, I only earn 3x the average salary though so I know I can't afford to live anywhere near a job that pays that much. I can't .

Average earnings in Ireland are 45,075 [incl overtime].

So 3x average earnings = 135k.

jamesthepeach

Geuze wrote: »

Average earnings in Ireland are 45,075 [incl overtime].

So 3x average earnings = 135k.

What is it not including overtime.
You shouldn't have to do overtime to make a living so I don't think it should count on average earnings

Lumen

ThisRegard wrote: »

Blanchardstown are increasing, there were never really an issue with demand around there from what I can see.

Well, pretty much anything sells for a price, but Blanch prices have been very stable (albeit increasing) since 2012.

I'm seeing a leap in asking prices in 2017 but it hasn't fed through to selling prices yet.

There's very little building going on so possibly prices won't be as skewed by tax incentives as they are elsewhere.

Geuze

Geuze wrote: »

Average earnings in Ireland are 45,075 [incl overtime].

So 3x average earnings = 135k.

Banks don't count overtime unless it's guaranteed overtime every year

Geuze

jamesthepeach wrote: »

What is it not including overtime.
You shouldn't have to do overtime to make a living so I don't think it should count on average earnings

41,484

http://www.cso.ie/en/releasesandpublications/er/elca/earningsandlabourcostsannualdata2015/

It's 21.90 per hour, incl. O/T.

jamesthepeach

Geuze wrote: »

41,484

http://www.cso.ie/en/releasesandpublications/er/elca/earningsandlabourcostsannualdata2015/

It's 21.90 per hour, incl. O/T.

Definitely has to be two earners buying a house in dublin now.

A single person wouldn't even get mortgage on a 1 bed apartment for that these days.

cronos

Sleepy wrote: »

Exactly cronos, living in the area it's easy enough to see that prices have been rising steadily enough in Donabate and Skerries but I'd presume the likes of Blanchardstown and Finglas would lag a bit behind

Personally, think Ashtown is great so couldn't see any logic by which it would not be increasing.

lawred2

Lot of building in Fingal. Probably takes the average down a bit. At a more granular level there have been significant increases in certain areas.

It's a big district with lots of regional variations.

seagull

There are also a large number of houses in Fingal with pyrite issues, so that's probably impacting the numbers.

jamesthepeach

seagull wrote: »

There are also a large number of houses in Fingal with pyrite issues, so that's probably impacting the numbers.

They are impacting the prices anyway.

peckerdara

I know some who sold their house in Fingal but sale fell through. When it went back on market they ended up closing a second time for slightly less. 
I think houses around the 3-400k are first time or trade-ups and people don't have access to cash to allow prices to increase too much.