Property Market 2018

Bluefoam · 28-11-2018 12:07am

First time buyers only need to save 10% + bills and are encouraged to buy in the west of the city (I am talking about Dublin specifically)... If they manage to build up any equity they'll have the ability to look inside the M50... A three bed semi in clonsilla was 320k 15 years ago, when I was considering a house there... So not much has changed really except earning power has increased significantly.

matsy1 · 28-11-2018 12:48am

Bluefoam wrote: »

First time buyers only need to save 10% + bills and are encouraged to buy in the west of the city (I am talking about Dublin specifically)... If they manage to build up any equity they'll have the ability to look inside the M50... A three bed semi in clonsilla was 320k 15 years ago, when I was considering a house there... So not much has changed really except earning power has increased significantly.

Yes. I agree. I think people want to see the three bed house in Clonsilla seeling for 180k. Without thinking of the scale of recession that would lead to this.

Right now you can buy inside the M50 for a good price, Finglas for example would be affordable. Invest close to the city. Cabra is now a very sought after address, it wasn't 20 years ago. Unfortunately your ma's estate in clontarf isn't working class anymore.

Take a look at London, no go areas of the past now million pound properties. City living ain't cheap.

Redneck Culchie · 28-11-2018 12:57am

Dublin cannot be compared to London the difference in size and population is ridiculous, London has more people than all of Ireland. Nor would I want Dublin to morph into London either.

RayCun · 28-11-2018 6:53am

engiweirdo wrote: »

They probably are offering them to a hundred other people (if they can find them) I thought the bustling metropolis was supposed to cure their hiring problems though not cause them. But sure cram a few more in. Bus in more talent to pay €800 a month to share a bedroom out of your princely €30k salary in the hope of one day owning your own shoebox, maybe you could afford a child in your mid 40s. Keep the recovery going ya know.

And IDA visit numbers speak for themselves. The In Dublin Always only show companies regional sites as an afterthought.

Are we talking about why companies want to locate in Dublin, or why you don't?

The cost of living is high here, I can completely understand not wanting to relocate. And it is an issue for companies because it drives up salaries. But Dublin is still where you find high numbers of skilled employees.

(The IDA numbers don't speak for themselves because they don't show the requirements companies bring to the table)

Stopitwillya · 28-11-2018 8:51am

Redneck Culchie wrote: »

Wasn't Waterford earmarked as a city that will increase population and employment in the Fine Gael 2040 plan?

Although just more government lies as usual

Got it in one. Lies from fg.
Waterford has great plans and potential to be a great city to live in but is hamstrung by Ida/government incompetence.
Have many friends Stuck in Dublin who would give anything to get out of there. They all hate the place and would do anything to get a job at home and try to buy a house. At the moment they are all paying crazy rents.
I'd say a lot of people from other rural areas would be the same.
This govt aren't delivering for these people.

Shedite27 · 28-11-2018 9:07am

Bluefoam wrote: »

Haven't been to the city recently, but dungarvin is a great example of a rural town, small businesses, great hospitality, new leisure facilities such as the greenway, it even has a large scooter club... I took a tour of one of the local factories and was very impressed... While it was small in scale, that's how all microeconomies begin.

Anyone who has the pleasure of going through Castlemartyr and Killeagh in the morning knows most of those people in Dungarvan are commuting to Little Island, Cork each morning

Bluefoam · 28-11-2018 10:08am

Sorry guys... but Waterford is not attractive to large international businesses... What makes Dublin attractive is that there are people with different skills from all over ireland and the world there... Waterford cannot attract the talent. Even if a large multinational was to locate to waterford & miracuously finds a CEO, CFO, Marketing team, suitable accountants with experience in international dealing, engineeers, World class IT people all living there and wanting to work for them... what happens if one of those people leave? what pool are the going to pluck someone from? Its not viable. That is unfortunate, but reality. You're gonna have to accept it eventually...

If there are so many skilled and experienced people from waterford dying to go back, why don't they band together and develop suitable businesses and pool all of their talent? Sounds like you have everything you need... Homegrown business rather than expecting something thats not viable to land.

AlmightyCushion · 28-11-2018 10:19am

I think the best thing for smaller urban areas to do is not to try and attract thousands of jobs from a Facebook/Apple/Google type company. Instead they should try and attract smaller operations with around 100 people or less. This is a hell of a lot easier to cater for and for employers to find/attract suitable employees. It gives people in the area or who attend the local IT/university somewhere to work after they finish college, that doesn't involve moving to Dublin,Cork,etc. Not to mention if one of these companies goes under or closes shop it won't be anywhere near as devastating to the town/city as it would if it was a company employing thousands.

engiweirdo · 28-11-2018 10:20am

Bluefoam wrote: »

Sorry guys... but Waterford is not attractive to large international businesses... What makes Dublin attractive is that there are people with different skills from all over ireland and the world there... Waterford cannot attract the talent. Even if a large multinational was to locate to waterford & miracuously finds a CEO, CFO, Marketing team, suitable accountants with experience in international dealing, engineeers, World class IT people all living there and wanting to work for them... what happens if one of those people leave? what pool are the going to pluck someone from? Its not viable. That is unfortunate, but reality. You're gonna have to accept it eventually...

If there are so many skilled and experienced people from waterford dying to go back, why don't they band together and develop suitable businesses and pool all of their talent? Sounds like you have everything you need... Homegrown business rather than expecting something thats not viable to land.

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

RayCun · 28-11-2018 10:22am

engiweirdo wrote: »

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

The chip on your shoulder is interfering with your vision

aloooof · 28-11-2018 10:27am

engiweirdo wrote: »

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

Ask yourself what can Dublin offer to a multi-national company that Waterford can't. If you begin to answer that question honestly, you'll realise it's not arrogance but prudence as to why businesses favour Dublin.

AlmightyCushion · 28-11-2018 10:27am

engiweirdo wrote: »

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

It really wouldn't. Plus, not all the culchies would move back even if there was a realistic chance to return home. Dublin has plenty of advantages over their home town (disadvantages too of course) so a lot would still stay in Dublin

Mickiemcfist · 28-11-2018 10:34am

engiweirdo wrote: »

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

I think you'll find a lot of people in London & NY are from elsewhere & if similar jobs were at home they'd return. Does that preclude them from being global cities too?

Amirani · 28-11-2018 10:35am

engiweirdo wrote: »

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

Hmmm, Waterford doesn't seem to feature on this list: https://en.wikipedia.org/wiki/Globalization_and_World_Cities_Research_Network#Alpha_%E2%88%92

Dublin is considered an Alpha World City by International organisations. These sorts of studies would be important for corporations in choosing where to locate. Most will never have heard of Waterford.

Pussyhands · 28-11-2018 10:56am

Yearning so much for a property crash of 30%. Would love it.

Don't think it'll happen though.

Moonjet · 28-11-2018 10:59am

Pussyhands wrote: »

Yearning so much for a property crash of 30%. Would love it.

Don't think it'll happen though.

It could happen. The problem is there is a queue of people like yourself lying in wait, so demand at the new (lower) price level would be crazy. Especially with the insane money being charged for rental properties. The dip wouldn't last long.

Cyrus · 28-11-2018 11:00am

Pussyhands wrote: »

Yearning so much for a property crash of 30%. Would love it.

Don't think it'll happen though.

I wish the thing I want was 30 percent cheaper but in isolation from everything else

Redneck Culchie · 28-11-2018 11:40am

AlmightyCushion wrote: »

I think the best thing for smaller urban areas to do is not to try and attract thousands of jobs from a Facebook/Apple/Google type company. Instead they should try and attract smaller operations with around 100 people or less. This is a hell of a lot easier to cater for and for employers to find/attract suitable employees. It gives people in the area or who attend the local IT/university somewhere to work after they finish college, that doesn't involve moving to Dublin,Cork,etc. Not to mention if one of these companies goes under or closes shop it won't be anywhere near as devastating to the town/city as it would if it was a company employing thousands.

Don't think anyone is suggesting Facebook, Google etc move to small towns. I think that is just a straw man from Dubs intent continuing their one city state mentality.

I would prefer if people were just honest in their opinions, they only care about Dublin thriving. If 80% of the rest of the country burned down they would barely notice. In that sense it is very similar to the London vs England mentality.

Redneck Culchie · 28-11-2018 11:45am

engiweirdo wrote: »

Unfortunately this is the attitude prevalent in FG/government/IDA circles too. Pure arrogance. Someone compared Dublin to London, someone else mentioned New York, talk about notions ffs. What's really at stake is if the "culchies" are offered a realistic chance to return home, the arse would well and truly fall out of the Dublin "global city" scam.

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

Bluefoam · 28-11-2018 11:49am

Redneck Culchie wrote: »

I think that is just a straw man from Dubs intent continuing their one city state mentality.

I think it's well covered that it's not just Dublin... It's Dublin, Cork, Galway, Limerick, Sligo... but everytime someone mentions that they are ignored... Dublin is however an international city, cosomopolitan, attractive to foreign labour, attractive to multinationals... I don't know why there is so much bitterness, it's just a fact.

Bluefoam · 28-11-2018 11:50am

Redneck Culchie wrote: »

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

lol

Cyrus · 28-11-2018 11:50am

Redneck Culchie wrote: »

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

Looks like your problems are everyone else’s fault , where do you think all the money comes from to pay your job seekers allowance ?

Mickiemcfist · 28-11-2018 11:51am

Redneck Culchie wrote: »

Don't think anyone is suggesting Facebook, Google etc move to small towns. I think that is just a straw man from Dubs intent continuing their one city state mentality.

I would prefer if people were just honest in their opinions, they only care about Dublin thriving. If 80% of the rest of the country burned down they would barely notice. In that sense it is very similar to the London vs England mentality.

Don't think you're right on that. I live in Dublin & hopefully always will, I have a good job & good prospects here, but every time I see another 100+ jobs announced here I shudder to think of where they will live. They're only driving up cost of living & housing for the rest of us.

It's a catch 22, companies with highly skilled jobs won't go to Kilkenny/Waterford etc. as there's no jobs/employee market & there's no jobs market because companies supporting those jobs are not there.

Someone above called it spot on, there needs to be a serious effort to get high growth companies with 50-100 staff to go to the tertiary cities & the market can grow that way. If I was Minister for finance I'd seriously consider a two tiered corporation tax system - one rate for Dublin & a lower rate for others, where your mean staff salary is above a certain threshold.

RayCun · 28-11-2018 11:57am

Redneck Culchie wrote: »

Imagine comparing Dublin to New York or London. Another planet the Dubs live on. I would love if the American MNC's piss off to somewhere with cheaper tax. Their pathetic house of cards would collapse.

Ressentiment, elections manager for the Healy-Raes :rolleyes:

Redneck Culchie · 28-11-2018 12:02pm

Cyrus wrote: »

Looks like your problems are everyone else’s fault , where do you think all the money comes from to pay your job seekers allowance ?

Probably the same place that had to bailout the bankers and that are grandchildren will still be paying off long into the future.

Cyrus · 28-11-2018 12:03pm

Redneck Culchie wrote: »

Probably the same place that had to bailout the bankers and that are grandchildren will still be paying off long into the future.

If they get themselves a job?!?

L1011 · 28-11-2018 12:08pm

Some recent posts are completely unacceptable and will be deleted. Continued posting of that type will result in cards

Mrnew · 28-11-2018 12:10pm

Redneck Culchie wrote: »

Clueless BS and lies. You have probably never left the City in years. Limerick and Sligo thriving ? haha. Sligo is an absolute kip one of the only places in Ireland losing population. Limerick has massive unemployment. You are living in some Walter Mitty world you read on the latest Fine Gael email.

I always wonder why Sligo is going that way. they did try to invest in Sligo with Pharma companies. wonder would a direct motor way to Dublin or Galway do it any good and try to revive it.

Redneck Culchie · 28-11-2018 12:11pm

L1011 wrote: »

Some recent posts are completely unacceptable and will be deleted. Continued posting of that type will result in cards

It's okay for some to attack the unemployed and homeless though apparently? Let them. Anyone that spends their time online attacking the unemployed and homeless, like a certain element, must have a very sad life.

AlmightyCushion · 28-11-2018 12:12pm

Redneck Culchie wrote: »

Don't think anyone is suggesting Facebook, Google etc move to small towns. I think that is just a straw man from Dubs intent continuing their one city state mentality.

I would prefer if people were just honest in their opinions, they only care about Dublin thriving. If 80% of the rest of the country burned down they would barely notice. In that sense it is very similar to the London vs England mentality.

I'm a culchie living in Dublin and I would very much like to see the regional towns/cities grow. Saying that, whenever a MNC announces loads of jobs for Dublin it always comes up that the government should be telling them they can't open up in Dublin and have to go somewhere down the country (The government can't even do that but regardless). Instead we should be trying to get smaller companies/divisions to open up in these regional towns/cities and then help and encourage those companies to grow their business there.

Redneck Culchie wrote: »

Clueless BS and lies. You have probably never left the City in years. Limerick and Sligo thriving ? haha. Sligo is an absolute kip one of the only places in Ireland losing population. Limerick has massive unemployment. You are living in some Walter Mitty world you read on the latest Fine Gael email.

I'm from Sligo, the downturn hit Sligo bad and it still hasn't recovered at all. It sucks. Saying that we did get some positive job announcements from a few different companies over the space of a few months so things are looking up there. Hopefully, it continues.

L1011 · 28-11-2018 12:12pm

Redneck Culchie wrote: »

It's okay for some to attack the unemployed and homeless though apparently? Let them. Anyone that spends their time online attacking the unemployed and homeless, like a certain element, must have a very sad life.

If you have an issue with posts, report them - as yours were by others

AlmightyCushion · 28-11-2018 12:20pm

Mrnew wrote: »

I always wonder why Sligo is going that way. they did try to invest in Sligo with Pharma companies. wonder would a direct motor way to Dublin or Galway do it any good and try to revive it.

I don't think knocking 20 minutes off the trip to Dublin would do much for employment in Sligo, it would make it a bit handier for all the people who moved to Dublin when they're going back home though

I think most of the pharma jobs were actually pretty low end factory jobs which are always going to be difficult to retain in a high cost country like Ireland. The IT there is pretty good and does churn out a lot of IT and Engineering grads that inevitably end up moving somewhere else. I think Sligo should try and utilise that and attract those types of companies to the area. Those are jobs that are more likely to last and grow. If you get a small cluster of those then it can snowball and encourage more to open up.

Redneck Culchie · 28-11-2018 12:22pm

AlmightyCushion wrote: »

I'm a culchie living in Dublin and I would very much like to see the regional towns/cities grow. Saying that, whenever a MNC announces loads of jobs for Dublin it always comes up that the government should be telling them they can't open up in Dublin and have to go somewhere down the country (The government can't even do that but regardless). Instead we should be trying to get smaller companies/divisions to open up in these regional towns/cities and then help and encourage those companies to grow their business there.

I'm from Sligo, the downturn hit Sligo bad and it still hasn't recovered at all. It sucks. Saying that we did get some positive job announcements from a few different companies over the space of a few months so things are looking up there. Hopefully, it continues.

There was investment given to Strandhill seabaths lately and a big fuss was made over it. Totally papering over the cracks and that is what is happening. Sligo county is a lovely county, but the North West and border areas are basically ignored as are much of the rest of the country.

I really don't think the government care. I think they are hedging their bets on Dublin and to a lesser extent Cork city at this point. Maybe they can't do anything, this is globalization. I think there should be more decentralization to ease the pressure on Dublin and move more public sector jobs out of there.

AlmightyCushion · 28-11-2018 12:35pm

Redneck Culchie wrote: »

There was investment given to Strandhill seabaths lately and a big fuss was made over it. Totally papering over the cracks and that is what is happening. Sligo county is a lovely county, but the North West and border areas are basically ignored as are much of the rest of the country.

I really don't think the government care. I think they are hedging their bets on Dublin and to a lesser extent Cork city at this point. Maybe they can't do anything, this is globalization. I think there should be more decentralization to ease the pressure on Dublin and move more public sector jobs out of there.

I'd have to disagree with you there. IDA have a huge amount of land and office/factory buildings in Sligo. I think there is only so much the IDA can do and they have succeeded in attracting business there but it isn't easy. Sometimes companies just want to open up and develop in larger cities as there are plenty of advantages to the larger cities. It's always going to be easier to find staff in Cork and Dublin.

When Live Tiles were looking for developers in Sligo, I got loads of emails/linkedin messages/calls about it as did some of my friends who are developers and are from/went to college in Sligo. I wasn't interested because despite the downsides I actually like living in Dublin and I like that I have plenty of job opportunities here so for now at least I'm happy here. One of the recruiters did tell me they were struggling to hire staff there. It saddened me to hear it but it didn't surprise me either. If Live tiles opened up in Dublin or Cork, they would find it a lot easier to hire staff.

As for decentralisation, it didn't really work when we tried it before so I'm not sure moving everyone from Dublin would work now either. However, we should definitely look at creating any new jobs or departments/offices outside of Dublin. It gets around the issues of moving existing staff.

Redneck Culchie · 28-11-2018 12:58pm

AlmightyCushion wrote: »

I'd have to disagree with you there. IDA have a huge amount of land and office/factory buildings in Sligo. I think there is only so much the IDA can do and they have succeeded in attracting business there but it isn't easy. Sometimes companies just want to open up and develop in larger cities as there are plenty of advantages to the larger cities. It's always going to be easier to find staff in Cork and Dublin.

When Live Tiles were looking for developers in Sligo, I got loads of emails/linkedin messages/calls about it as did some of my friends who are developers and are from/went to college in Sligo. I wasn't interested because despite the downsides I actually like living in Dublin and I like that I have plenty of job opportunities here so for now at least I'm happy here. One of the recruiters did tell me they were struggling to hire staff there. It saddened me to hear it but it didn't surprise me either. If Live tiles opened up in Dublin or Cork, they would find it a lot easier to hire staff.

As for decentralisation, it didn't really work when we tried it before so I'm not sure moving everyone from Dublin would work now either. However, we should definitely look at creating any new jobs or departments/offices outside of Dublin. It gets around the issues of moving existing staff.

I think areas like Sligo and others suffer from very poor political representation. Also people are almost encouraged to leave, the idea of staying and trying to improve things is pretty alien to most. There is no entrepreneurial spirit that you would see in America. But globalization is crushing small business that used to bring employment. I really think decentralisation should be attempted again, I don't see the downside. In the Celtic Tiger it wasn't necessary as the boom was more evenly spread throughout the country.

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy. Reports this week of "Boom envy" , this is because there is no boom only for a small minority. The current economy is unbalanced and unstable.

Bluefoam · 28-11-2018 1:07pm

Redneck Culchie wrote: »

I think areas like Sligo and others suffer from very poor political representation. Also people are almost encouraged to leave, the idea of staying and trying to improve things is pretty alien to most. There is no entrepreneurial spirit that you would see in America. But globalization is crushing small business that used to bring employment. I really think decentralisation should be attempted again, I don't see the downside. In the Celtic Tiger it wasn't necessary as the boom was more evenly spread throughout the country.

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy. Reports this week of "Boom envy" , this is because there is no boom only for a small minority. The current economy is unbalanced and unstable.

The problem with decentralisation was that, while people complained about living in Dublin, and wanted to move to rural Ireland... when presented with the oportunity and good terms, they refused to leave. The whole thing collapsed because the very people who demanded it rejected the reality of decentralisation.

Mickiemcfist · 28-11-2018 1:28pm

Bluefoam wrote: »

The problem with decentralisation was that, while people complained about living in Dublin, and wanted to move to rural Ireland... when presented with the oportunity and good terms, they refused to leave. The whole thing collapsed because the very people who demanded it rejected the reality of decentralisation.

Think the only way that it works is by only setting up new offices outside of Dublin & not hiring anyone else to Dublin while gradually shrinking the office through employee turnover & retirement, moving people en masse doesn't. I'm guessing our public service sector is fairly old, so 20 years from now all the Dublin ones would have retired & you'd be left with a non-Dublin public service. It's an oversimplified model but it would work for 90% of the body.

ohlordy · 28-11-2018 1:41pm

The problem with decentralisation is that it wasn't a fully planned project, it was announced on a whim as a vote gathering exercise, one office for everybody in the audience.
It should have started with a survey of staff, asking if they would like to move, and to where.
It should then have involved moving enough sections that matched those locations with the numbers in each. There should have been proper workforce planning between departments to ensure that people who were voluntarily moving from Dept A to new Dept B office in Tralee were replaced in Dept A by someone who wanted to stay in Dublin.

Shedite27 · 28-11-2018 1:43pm

How about that Property Market?

RayCun · 28-11-2018 1:45pm

Decentralization was always going to be a mess. Yes, there might be 200 civil servants who would like to work in an office in Athlone, for example. But 12 of them are in Agriculture, 18 are in Education, 17 in Health... and though an office might need 50 people from that grade, 45 from this grade..., the people who were interested in moving to Athlone were mostly from this grade and hardly anyone from that grade.

And, of course, the civil service is not based in Dublin for the crack. The Dail is in Dublin, the courts are in Dublin, and the other departments are in Dublin. If you move Education to Cork, then you impose a huge overhead on all dealings with things outside the department.

And Dublin is the transport hub. If you're in Sligo and have business with the Department, yeah, you'll moan about having to go to Dublin and why can't it be in Sligo etc etc, but what if instead of moving it to Sligo they move it to Waterford?

It was your standard Fianna Fail big promise that they couldn't be arsed thinking how it could be implemented.

Zenify · 28-11-2018 2:37pm

hanaimai wrote: »

No change to the rules for 2019: https://www.centralbank.ie/financial-system/financial-stability/macro-prudential-policy/mortgage-measures

Just in case people didn't see other thread about central bank rules review.

Moonjet · 28-11-2018 3:48pm

Redneck Culchie wrote: »

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy.

I hate to break it to you but property prices are not at Celtic tiger peak levels just yet - they are predicted to return to that level mid 2019. (https://www.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-by-more-than-100000-in-a-year-amid-fear-of-celtic-tigerlevel-hikes-36805528.html).

Andycap8 · 28-11-2018 4:04pm

Tallaght has a larger population than Waterford.

Just saying.......

riclad · 28-11-2018 4:09pm

Prices will fall maybe by a few per cent,
or maybe stay as they are in dublin.
Say joe is selling his 300k. house for 350k and he gets no offers ,then he reduces the asking price to 300k or else stays where he is.
Thats how the market works .
Its hard to compare prices with the celtic tiger because prices went up everywhere , eg people in small towns were paying 160k for an apartment that is now valued at 80k.
Prices might rise in citys and urban area,s where there is very high demand .
Young people might not know this ,in 2004 you could borrow 8 times plus your salary .
The lending rules are now even if you are in a good job you can borrow
maybe 3 to 3.5 times your salary .
So there is just no way price,s could rise all over ireland to
celtic tiger levels .

Mickiemcfist · 28-11-2018 4:09pm

Andycap8 wrote: »

Tallaght has a larger population than Waterford.

Just saying.......

Mod Note

Less of the sweeping generalisations.
Consider that a written warning.

Zenify · 28-11-2018 4:13pm

Moonjet wrote: »

Redneck Culchie wrote: »

There is something drastically wrong with house prices being so much above Celtic Tiger prices with a much weaker economy.

I hate to break it to you but property prices are not at Celtic tiger peak levels just yet - they are predicted to return to that level mid 2019. (https://www.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-by-more-than-100000-in-a-year-amid-fear-of-celtic-tigerlevel-hikes-36805528.html).

According to who? I just had a quick look at the article and didn't see a quote for that claim.

Andycap8 · 28-11-2018 4:15pm

Mickiemcfist wrote: »

Yea but people in Waterford want jobs

Touche!:)

Bluefoam · 28-11-2018 4:30pm

riclad wrote: »

Prices will fall maybe by a few per cent,
or maybe stay as they are in dublin.
Say joe is selling his 300k. house for 350k and he gets no offers ,then he reduces the asking price to 300k or else stays where he is.
Thats how the market works .
Its hard to compare prices with the celtic tiger because prices went up everywhere , eg people in small towns were paying 160k for an apartment that is now valued at 80k.
Prices might rise in citys and urban area,s where there is very high demand .
Young people might not know this ,in 2004 you could borrow 8 times plus your salary .
The lending rules are now even if you are in a good job you can borrow
maybe 3 to 3.5 times your salary .
So there is just no way price,s could rise all over ireland to
celtic tiger levels .

Prices have risen in Dublin by 7.2%, in rural ireland it's more like 13.1%

28-11-2018 4:36pm

riclad wrote: »

.........in 2004 you could borrow 8 times plus your salary .............

I see this mentioned frequently enough.
In 2004 someone on €50k/annum took home about €2900/month after throwing a few quid into the pension etc etc.

If they borrowed €400k their mortgage would have been about €1600/month at the then quite low interest rates.

I really don't think many folk borrowed 8 times their salaries tbh, I know that BOI weren't throwing much more than the 4.2 times my then salary at me, and AIB weren't willing to give me a mortgage at all

EnlightenedApe · 28-11-2018 5:37pm

Moonjet wrote: »

I hate to break it to you but property prices are not at Celtic tiger peak levels just yet - they are predicted to return to that level mid 2019. (https://www.independent.ie/business/personal-finance/property-mortgages/property-prices-rise-by-more-than-100000-in-a-year-amid-fear-of-celtic-tigerlevel-hikes-36805528.html).

One thing I learned...
The more sources saying prices can only go up, the more likely we about to plummet and visa versa.

Property Market 2018

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