Irish Property Market chat II - *read mod note post #1 before posting*

https://www.boards.ie/discussion/comment/120085647#Comment_120085647

Seriously? No one is saying that.

To summarise, poster wants a 3 bed house in the most expensive market in the country, but can’t afford it on a single wage. Other, smaller properties are available within the poster’s budget, they can be viewed on daft apparently.

DataDude

https://www.boards.ie/discussion/comment/120085647#Comment_120085647

I don’t think many are saying it’s grand. I for one agree the whole system is in dire straights and seriously needs a reset.

But a single income, sub €100k income not being able to afford a 3 bed new build in South Dublin is not the hill to die on. In just gives ammunition to those who claim everything is fine.

DownByTheGarden

https://www.boards.ie/discussion/comment/120085178#Comment_120085178

Its the same for hotel rooms. Either you get the small hotel room with the single bed or you pay the "occupancy" tax to get the bigger room.

PokeHerKing

https://www.boards.ie/discussion/comment/120085588#Comment_120085588

They state they want to avail of the current dynamics of the market by renting a room.

But they complain they can't buy their desired property due to current dynamics of market.

DownByTheGarden

https://www.boards.ie/discussion/comment/120085105#Comment_120085105

I would be a big believer in only buying what you need when you need it too.

But if you go back a few years the government were stinging people with tens of thousands in stamp duty every time they traded up (or down even).

People dont forget that and will be very aware that stamp duty could go up overnight costing them tens of thousands if they ever want to trade up.

BlueSkyDreams

https://www.boards.ie/discussion/comment/120085364#Comment_120085364

Yes, I agree.

My point was really that if you want to stay in Dublin at retirement, you really need to own a property before you retire, as its the only way of ensuring you can stay in the city.

For all the reasons you rightly mention.

FedoraTheAura

https://www.boards.ie/discussion/comment/120085647#Comment_120085647

Hah! You are being deliberately obtuse, I'm not wasting any more time on you, you know that's not what I'm saying. Best of luck now.

SwimClub

Heres one from Daft, Rathfarnham:

Fixer upper in Sallynoggin, prime for gentrification, front garden gym (push mower equipment), take up DIY on the evenings and weekends:

newmember2

https://www.boards.ie/discussion/comment/120085510#Comment_120085510

So you're still going to maintain that it's perfectly fine for our native people be forced to emigrate while we import truckloads of immigrants?

Jonnyc135

https://www.boards.ie/discussion/comment/120085880#Comment_120085880

Not bad houses atall, all under 400,000 for that area. Over the space of 3 or 4 years tip away at refurbishments and the place would be in great nick.

newmember2

https://www.boards.ie/discussion/comment/120085710#Comment_120085710

This argument is bogus, the OP (and I'm wondering who tf the OP is seeing as this thread started a long long time ago) but anyhow to address dashdoll's query - their income and possible mortgage is possibly equal to a lot of couple's combined mortgage applicant's income. The fact that the poster cannot buy a house on such an income whether on his own or with a family in-tow is a symptom of the state of our dysfunctional housing market but hey, let's just attack the poster instead for getting above themselves and expecting some sort of return for all their years of saving and working.

growleaves

https://www.boards.ie/discussion/comment/120086170#Comment_120086170

Except they can:

https://www.boards.ie/discussion/comment/120085216#Comment_120085216

fliball123

https://www.boards.ie/discussion/comment/120086133#Comment_120086133

No in is forcing them if they can find somewhere to rent or buy and there are places cheaper than the big cities then go for it. As I said this country has been emigrating its people since well before the formation of the state over a century ago its just the entitlement was not as pronounced as it is today. In fairness we are looking at a war for the truckload your talking about, should we turn the Ukrainians away?

FedoraTheAura

https://www.boards.ie/discussion/comment/120085880#Comment_120085880

That Rathfarnham property would be lovely and wouldn't take much work.

As it looks like their reasoning for wanting such a large property for one person, OP could rent out both spare rooms for about €580 a month each to stay under the rent-a-room scheme limits of €14,000 per year, or one room at a higher rate.

For a 35 year mortgage on what they've quoted, and factoring in stamp duty and fees, they could currently go for a 3 year fixed rate of about €1214 a month, or €14,568 a year. Putting the rent they make purely towards their mortgage, their mortgage repayments would be about €568 a year, €47 a month, an on €80k salary.

newmember2

https://www.boards.ie/discussion/comment/120086232#Comment_120086232

So you're saying we need a war in this country to get housing? Amen to that.

fliball123

https://www.boards.ie/discussion/comment/120086253#Comment_120086253

When did I say that? Your twisting things, you are on about people emigrating in to Ireland when the majority of those are Ukrainian refugees looking for safety during the war. If things are not working for you in a country then leave its open to anyone and everyone. Work is plentiful globally why sit in a country and moan about how you cant get a place where you want to live for a price you want when you can get up and move on it does not have to be for ever. I know bucket loads of people who have headed off contracting for a few years have a great time and come back with a nice chunky deposit for a house here and in that time the supply of housing might be improved as well meaning prices will drop.

https://www.boards.ie/discussion/comment/120086170#Comment_120086170

We can’t always get what we want newmember, and the reality is that two incomes, for the most part will allow the applicants to get a bigger mortgage, unless the single person has a higher income, which I did mention in an earlier post.

It is easy to blame others when we don’t get what we want, but dashdoll is in a position to buy a house, just not the size, in the location he/she wants. That predicament isn’t unique to Ireland, and unlike many others who have families where a larger house is essential, dashdoll does have options.

So wind your neck back in.

PokeHerKing

https://www.boards.ie/discussion/comment/120086170#Comment_120086170

They can buy plenty of homes. Problem is they want all of their demands met.

I wanted to buy on the road I grew up on. But alas we couldnt afford the almost million euro price tag. So I bought a house my salary could afford. Did it sting, yes. Was I annoyed, Yes.

Did I stay in my parents sulking and claiming the market/government/country was out to get me? No.

jj880

Separate thread needed for anyone who thinks the property market is dysfunctional because if you come on here you are told you're a whinger, delusional or a conspiracy theorist and to cut your cloth accordingly. Its the same thing as saying theres nothing wrong with our housing market despite all the posters here trying to say it isnt. Totally disingenuous Im alright jacks everywhere. Pathetic.

https://www.boards.ie/discussion/comment/120086450#Comment_120086450

Not being able to afford what you want isn’t an indicator of a dysfunctional market. That particular poster has options, they just want a bigger house.

PokeHerKing

https://www.boards.ie/discussion/comment/120086450#Comment_120086450

Of course its dysfunctional. There's clearly not enough affordable homes to meet demand.

But that's not Doll's problem. So stop conflating the two issues, you're just clogging up the thread with your ignorance.

wassie

Op-ed article from downunder highlighting how high house prices have contributed to growing wealth inequality - lessons that can be shared across most developed western countries including our own.

Also notes housing is creating a 'Jane Austin world' whereby "The growing divide between the housing "haves" and "have nots" is being entrenched as wealth is passed onto the next generation."

https://www.abc.net.au/news/2023-01-09/how-housing-made-50-per-cent-of-australia-richer/101825752

Goes on to suggest how the problem should be addressed:

Favourable tax treatment for property owners should be abolished (Aus also has no inheritance tax as such, but capital gain liabilities may apply) - unlikely as the home owner is a protected species as far as the politicans are concerned.

Secondly - build more houses by fixing the planning system - again required politicians to act.

jj880

https://www.boards.ie/discussion/comment/120086491#Comment_120086491

It is their problem. Why shouldnt they want more for what they are offering. A single person on 80k income with 60k saved who cant get a 3 bed semi in Dublin (not some fixer upper hovel half way to Athlone) has everything to do with a dysfunctional housing market. It just suits you to say it isnt. Call me ignorant all you want but you are pretending to be ignorant and it's obvious.

fliball123

https://www.boards.ie/discussion/comment/120086618#Comment_120086618

With that persons budget they can get finance for a house worth 400k using the FTB grant, 4 times their salary and taking 50k from their savings leaving 10k for solicitor fees , stamp and to get some furniture. Currently in Dublin on daft there is just under 700 properties for sale with 3+ bedrooms ranging from 175k in Finglas all the way to the top of your budget.

https://www.boards.ie/discussion/comment/120086618#Comment_120086618

That simply isn’t the way it works. A single person who can’t buy any house despite earning 80k and having 60k in savings is a different scenario to the same person wanting a 3 bed house near work in one of the most expensive locations in the country.

This stuff isn’t difficult to understand.

PokeHerKing

https://www.boards.ie/discussion/comment/120086618#Comment_120086618

Leaving aside the fact that Doll can afford a 3bed home in Dublin on their current salary.

In a functional market where's the demarcation between wants and needs?

Or do you envisage a functional market being a utopia where we all get to live in the home we most desire?

growleaves

https://www.boards.ie/discussion/comment/120086618#Comment_120086618

Walkinstown is 6.5km from Grafton Street.

"Yeah its a 3 bed house in South Dublin but its not the right kind of 3 bed house in South Dublin!"

Okay cool. Yeah someone with 60k + 80k p.a. is suffering from hardship clearly.

Cyrus

https://www.boards.ie/discussion/comment/120086450#Comment_120086450

i want a 6 bedroom house on the Coliemore road, my existing dwelling isnt to my taste any more, i look forward to the new thread.

FedoraTheAura

https://www.boards.ie/discussion/comment/120086597#Comment_120086597

Intergenerational wealth is such a massive problem. There was a study done back in 2020 and of Irish families on the median income, those that own their own property had a net worth of over €300,000, those that rented had a net worth of about €5,000. Think of the amount of money homeowners have to pass on compared to those that don't.

Those in power are worried about their next election. Kicking the planning system into gear and looking at inheritance tax could change things a good deal but when they picture it they just see the dole queue forming in front of their eyes as their base, largely homeowners, turn to a party that will promise the opposite.

herbalplants

"Thousands of people are expected to attempt to secure a home this morning via an auction for houses backed by Wicklow County Council via the Affordable Housing Scheme.

Applications opened at 9am for two-bedroomed homes starting from €220,000 and three-bedroomed homes starting from €252,000 at Murragh View on the Greenhill Road. "

They are reasonably priced.