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

Sorry yes, Median full time earnings in Ireland are likely c.€45k. Gap typically quoted around €10k between mean and median.

30% above NI. Roughly translates across to difference on solicitors and accountants.

Doesn’t explain the full difference in house prices between North and South, but there’s no way to expect them to be equivalent as the thread seemed to be leaning towards earlier. ROI is a considerably wealthier country than NI.

Latest SCSI report issued this morning on commercial construction. No doubt same factors in play in the residential market.

Cost pressures clearly still there but material prices are easing with the exception of concrete.

Acute shortages in mechanical and electrical services - i.e. Plumbers and electricians in particular.

The Dublin commuter belt is far wider than those 3 counties according to your own observations.

Concerning especially if you want to purchase a second hand house with supply at all time lows in parts.

This was predicted here earlier in the year, the stupidity barometer has exploded

Biggest threat to global financial system is currently inflation. Irish government bringing in policies to increase inflation and avoid it from reversing.

Well done lads.

Im getting more cynical every year.

Supported by the Irish Banks, who are subsidising mortgage rates at the expense of depositors (and then claim how clever they are by making super profits).

A better solution would be to zero rate the type of building we most need.

Such as zero tax on 6 story or higher buildings inside the canals. Or zero tax on any building 4 story or higher within 2km of a post office.

Taxes can be used as incentives.

State out bidding the public in the most starved market in the country.

Its a joke and it makes zero sense Tim. They have options to build the modular homes at a much lower price point I mean at 20/30/40% of what this mess would cost. I am starting to see the man behind the curtain here in the last 12 months when there was any kind of threat to property prices even with our surging demand and p1ss poor supply the constraints of interest rates rising meant the bog standard woker could not afford a mortgage and property prices dropped for about 6 months there at the end of last year and the start of this year and what did the masters do. They upped the lending limits for people who wanted a mortgage and then the price drops reversed and now when developers cant sell at a price point to make a profit as it is simply unaffordable to the vast majority of people living here what do they they do , they become a backstop paying an inflated price so that our poor can live in these places that workers cannot afford, I feel like I am living in a parallel universe to be honest. Someone needs to challenge this how are these people allowed to use tax payers money for outrageous practices like this when there are much cheaper options

It does not make sense the current population cant afford these and yet our masters are going to buy them and let the poor get in there? How does it make sense for anyone on the margins and working to continue working? Modular homes can also be stacked to multiple stories at a much cheaper price point why the hell are these not being ramped up it beggars belief. They need to up the vacant land tax to 10% a year each year these lads dawdle they wont be sitting on it for long use it or lose it. They have used the carrot for the developers for the last 10 years at this stage the feckers have carrot sticks sticking out of their asses after being looked after so well. Its time for the stick and developers sitting on land should be tackled instead of paying an inflated market price for apartments' which will have a knock on effect of other people who are working or running in the same race and jumping the same hurdles that the people who will benefit from Darragh buying these coping on to the fact that their best option to have a roof over their head is to stop working. The knock on effect of this will be massive if its allowed to happen.

https://prefabie.com/modular-homes-stacked/

It feels a bit like the horse has bolted at this stage. When you see developers looking for 650k for a 3 bed semi in fcking Cherrywood - at 4% + rates, surely something has to give at some stage?

If the government could just stop, even for just five minutes, trying their level best to prop up prices at every turn, that might be a start.

No they don't they cost a lot less both in materials used to construct and how easy they are to construct so its a lot less labour intensive and quicker to build.. Anyone making an argument that it may not look pretty needs to look at any high rise they are always gawdy looking with few exceptions so we may as well cut the costs way down for the tax payer.

As the profits would be no where near as high as the the sh1tshow currently, there is a veil of secrecy around the costs involved with construction and there lots of companies making a fortune here by conflating costs and the cost of most raw materials have come down but it has not been passed on. Just look at the chlidren's hospital there is no way that should be costing what it is costing and 630k for a 3 bed apartments in Cherrywood I mean phucking hell getting that with a mortgage of 4% plus management fees is just out of reach for the vast majority of the population. The construction lobbyist just want the gravy to continue.

To get a sense of the profits these companies are raking in under the current phucked up system

https://irishbuildingmagazine.ie/2021/07/08/2020-turnover-at-irelands-top-50-contractors-tops-e10bn/#:~:text=John%20Sisk%20%26%20Son%20retained%20top,cash%20with%20zero%20bank%20borrowings.