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

I’d be fairly similar to the above posters.

Mid twenties on fairly good money around 65k after on-call is taking into account, I know I’m extremely lucky but have given up countless weekends studying and adding additional certifications on top of my degree from 19 until now that helped with these promotions.

Spending wise, I have an old iPhone, use Gomo which gives me calls,texts and internet for 9.99 per month, Apple Music a 10er and the odd takeaway.


Iv roughly 70k saved up from living like a pure hermit with my folks, I cycle so no car and save about 80% of my wages after bike to work, health insurance and pension contributions are removed.


I sometimes regret not living a bit more tbh, especially after getting overbid by investors for 2 gaffs(Finglas) and four 2 bed apartments(on the LUAS line(around D8 and D18)


It’s probably good most young people don’t live like me otherwise the economy would fall off a cliff from lack of consumption!

MacronvFrugals wrote: »

I’d be fairly similar to the above posters.

Mid twenties on fairly good money around 65k after on-call is taking into account, I know I’m extremely lucky but have given up countless weekends studying and adding additional certifications on top of my degree from 19 until now that helped with these promotions.

Spending wise, I have an old iPhone, use Gomo which gives me calls,texts and internet for 9.99 per month, Apple Music a 10er and the odd takeaway.


Iv roughly 70k saved up from living like a pure hermit with my folks, I cycle so no car and save about 80% of my wages after bike to work, health insurance and pension contributions are removed.


I sometimes regret not living a bit more tbh, especially after getting overbid by investors for 2 gaffs(Finglas) and four 2 bed apartments(on the LUAS line(around D8 and D18)


It’s probably good most young people don’t live like me otherwise the economy would fall off a cliff from lack of consumption!

So you can basically afford anything up to 300k max?

2 bed, 2 bath in Northwood Santry at 275k: https://www.myhome.ie/residential/brochure/272-parklands-northwood-santry-dublin-9-d09ay89/4492175

3 bed apt in heart of city
https://www.myhome.ie/residential/brochure/apt-27-52-mountjoy-square-mountjoy-square-dublin-1/4488746

As for outside of Dublin, well 300k would go a long way...

AlmightyCushion wrote: »

A €200 phone is much, much better than a €200 phone was 10 years ago and will last much longer before being too slow as a result. Higher end phones have gotten more expensive but budget phones have gotten much better. Second hand cars are much better, nicer, more reliable, and look less dated than the second hand cars I remember when I was a kid.

Regardless, none of this really matters. Yes, there are people in their 20s and 30s that are wasting loads of money on luxuries like new cars every 3 years and a brand new €1,000+ phones every year but equally there are lots of people in their 20s and 30s who aren't wasting every cent they earn and are saving. Lots of those people are still not able to buy because prices are so high.

You mean they aren't able to buy a house where they want to, because prices are so high???

Someone with 300k and struggling to buy a house is say Dublin, could easily buy a 4 bed house less than 1 hour from Dublin if they wanted and probably still have change left over.

Mountjoy is cheap for a reason. I rent close enough to Mountjoy and it is a pretty bad area. I definitely wouldn't buy around there.

When I was working around the corner from Mountjoy on a construction site, we were being threatened with violence by locals because the company was Northern Irish (Protestant) owned. This was about three or four years ago.

No one wants to raise children where local drug gangs will try to sell to them or recruit them. Or where there is a lot of violence. Methadone clinics nearby also a no.

There are sometimes bargains to be found in areas which have a lingering social stigma which is no longer deserved.

Ace2007 wrote: »

Should anybody have the right to buy a property in the area of the country that they want to - be in Dundrum, Drumcondra, Dun Laoghaire, Dingle or Dundalk?

The situation right now is that many could afford to live in Dingle or Dundalk if they wanted to, but many more would prefer to live in Dundrum or Drumcondra and hence house prices in these areas are going through the roof.

There are many areas of Dublin that house prices are reasonable (in comparison to other areas), but people won't live in buy houses in them, be in a social stigma, the amount of work involved, they don't have the luxury kitchen's etc or a rake of other reasons related to family and friends.

You look back 40 years ago and many people have to leave their home counties in the countryside because there was no work, they had no choice. Fast forward 40 years and we have people talking about emigrating because they can't afford a house in Dublin, but yet if they moved 100 miles outside of Dublin they could probably get exactly what they want.

20/30 something couples should not be borrowing hundreds of thousands of a mortgage to dump an old pair out of their gaff.

The old pair aren't investors, they didn't "invest" in their family home to make a tasty return a few decades later. Similarly, the young couple aren't speculators, they aren't investing hundreds of thousands of a mortgage in their home on the basis they'll profit in 20/30 years. For both stakeholders, they just want a home and the security that comes with a "home".

When you speak of people being able to buy in Dundalk or Dingle; how many people that actually work in hospitality or retail can afford to buy or rent their own place in those places as they are the ones working there primarily? If I was to suggest that people who work in Grand Canal Dock should be able to afford to buy in Dublin 2 or 4 what would you say?

Dav010 wrote: »

Ah here, that doesn’t mean items have gotten cheaper, it just means second hand/old/less technologically advanced stock is discounted on newer, more advanced versions that people want.

Is the latest model car/phone you refer to above more expensive today if bought brand new that it was last yr? Is the iPhone 12 selling today for less than the iPhone 10 was new 2 yrs ago? Is a new Car selling for less that the same new car two yrs ago?

What brand new today is cheaper than it was brand new a few yrs ago?

Your not comparing like with like, your comparing a brand new car with the same brand new car 2 years ago, but then your comparing an iphone 12 with an iphone 10.

Why not compare the brand new iphone 11 two years ago, with the price of a brand new iphone 11 now? Something that is comparable.

Dav010 wrote: »

Because people who buy new cars/phones today do not want to buy the 2019 model new in 2021. We are taking about people spending money on luxuries, the poster said items have gotten cheaper to lower labour costs etc. Of course an iPhone 11 is cheaper today than in 2011, they are old stock and far less desirable than the current model to those who want the latest iPhone. What’s the point of comparing a new 2015 Focus sold in 2021 with the 2021 model? Who wants to buy a new 2015 model today?

Lots of people buy older models of phones or cars to save money. It happens increasingly because the quality is improving, and more people who buy phones new hold onto them for a longer time because they are now good enough to do so. The same is true of the non-top-of-the-line phones which used to be terrible but are now very good. If you want to argue that someone buying the brand new top-of-the-line phone every time it comes out is still spending a lot of money, then sure, but that's not the same phenomenon it used to be because the less expensive alternatives are more viable.

Also, to add to the example of the iPhone mentioned above, the Samsung Galaxy S21 was cheaper at launch than the Samsung Galaxy S20 or S10. I believe the Google Pixel phones had a similar trajectory.

AdamD wrote: »

You'll find any reason to try and downplay our messed up our housing market is.

I'm reading posts here of posters talking about emigrating because they can't afford a house in Dublin, yet they won't consider moving less than 50 miles down the road, yet are talking the talk of moving countries

Did your parents and your peers parents all buy houses where they wanted to? Or did they buy where the could afford.

How many people work in Dublin because they have to compared with because they want to, maybe they made that decision when they were 20 something and didn't know any better, but the reality of the situation is that there are very few jobs in Dublin, that you can't get in any other part of the country that is near a city - like Cork, or Galway for instance. And where house prices are lower than in Dublin.

In the past there was a cohort of society that struggled to buy a house where they wanted to - nobody can dispute this, nor did most people care because they weren't in the cohort, but now because that cohort has expanded people now are making a song and dance about it.

The latest changes to the RI scheme highlight this - let's change a scheme and screw over those that it was first set up for - because we never cared about them in the first place.

I've yet to see anyone who is complaining about the situation put forward a solution - so let's here it - how can the government help me buy a house in the area of Dublin that i want to, even though i can't afford it. Fire away.

Ace2007 wrote: »

I'm reading posts here of posters talking about emigrating because they can't afford a house in Dublin, yet they won't consider moving less than 50 miles down the road, yet are talking the talk of moving countries

Did your parents and your peers parents all buy houses where they wanted to? Or did they buy where the could afford.

How many people work in Dublin because they have to compared with because they want to, maybe they made that decision when they were 20 something and didn't know any better, but the reality of the situation is that there are very few jobs in Dublin, that you can't get in any other part of the country that is near a city - like Cork, or Galway for instance. And where house prices are lower than in Dublin.

In the past there was a cohort of society that struggled to buy a house where they wanted to - nobody can dispute this, nor did most people care because they weren't in the cohort, but now because that cohort has expanded people now are making a song and dance about it.

The latest changes to the RI scheme highlight this - let's change a scheme and screw over those that it was first set up for - because we never cared about them in the first place.

I've yet to see anyone who is complaining about the situation put forward a solution - so let's here it - how can the government help me buy a house in the area of Dublin that i want to, even though i can't afford it. Fire away.

i agree with what you are saying in that people should look further afield if they cant afford dublin. the majority of jobs are in dublin though but hopefully that will change in the future and with remote working there may be more flexibility and people can live further away. i do find in ireland people are allergic to a commute for some reason - if you go to other countries - people commute 1hr/2hrs and dont bat an eyelid over it.

DataDude wrote: »

I think the science is fairly clear that one thing that is massively correlated with happiness/wellbeing is commute length. Big house, big salary, nice car etc. all have close to no effect long term. But a 2 hour commute each way 5 days a week appears to be a one-way ticket to misery.

Everyone makes their own choices for their own reasons but the evidence suggests people are wise to avoid the massive commute at all costs, even if it means living in a shoebox!

im not judging. i personally would rather a nice house and have a commute, then live in a box and no commute, thats just me. but as i said people are allergic to a commute and they all have their own reasons for that.