"average Dublin house prices should fall to ‘the €300,000 mark" according to Many Lou McD.

In the process of obtaining planning permission for a 3 bed with a converted attic in North Dublin, don't have exact dimensions on hand at the moment. Don't require a tenure process as a builder building in the locality has agreed to take the project on once planning permission has been granted. Fee proposal accepted is around €325k mark. No doubt there'll be contingencies and some unexpected costs but it will be no more than €350k all in. For full disclosure we didn't need to purchase the site which I know we are very fortunate and not everyone is as lucky.

lols

Can you explain why its common sense that sub and super structure would be more expensive?

Are there magic bricks and concrete in different regions that I'm not aware of? Is 804 different in Leitrim? How about timber?

Oh wait, timber is used in furniture and flooring...hmm. Seems like your argument doesn't stack up?

Wrong. If that was the reason, some of the most destitute and impoverished places on earth would have sky high house prices.

Of course it is. How can you tackle a problem without being honest about the cause. As for being water under the bridge, we will see how true that is when the government`s ability to rig the market with borrowed money becomes a doubtful proposition.

Indeed. But there are a lot of people in Somalia, most of whom who like a nice house. So a lot of people desiring houses is not in itself a reason for house prices to rise. Only economic fundamentals or, as in our case, market manipulation, can do that.

...this is a highly simplistic view of housing, particularly in modern advanced economies, including ours, over the last few decades, since we have moved to more liberalisation of our economies, in particular in relation to property, whereby it is relatively free to move money in and out of our economy, this has lead to a significant rise in speculation in our property markets, causing credit fueled bubbles, this introduction of the significant rise in the amount of credit based money in the economy, has in fact caused a rapid rise in the overall valuation of our property. this is whats truly occurring in most advanced economies, particularly in relation to property, i.e. its not just the serious lack of supply, but the interaction of entities such as the fire sectors(finance, insurance and real estate), causing this rapid rise in valuation in property, in most countries, this has caused on average a 3-4 times the rise in valuations.....

....under developed nations such as somalia simply wouldnt have as well developed fire sectors, most simply cannot take on the same levels of debt we do, hence why property values remain much lower, i.e. theres simply far less credit based money available there, credit is ultimately why we re in a never ending property crisis....

I would stand by the statement that he's partially correct. Building more is part of the answer but only part. If it is the case that lack of housing is one of the main limiting factors in the current already high rate of inward migration - and I believe it is - then there's no point in only building more. You also have to look at controlling inward migration as otherwise the extra building will only stimulate further immigration, thereby defeating the purpose of building more.

The simplistic view still holds.

External factors can attempt to pump the value of a property, but its still only worth what people can afford and are willing to pay.

Thats the fundamental.

You cant punp prices beyond the threshold people are willing and able to pay.