Who are buying all the new houses?

So not all couples qualify for full 30k...... and you complain about logic.

Average earnings is 45k. But that is every one from the college students working part time to the CEO of if Ryanair irvwho ever else you choose. It's salary not self employed earnings or anything else. However there is other data for full time earning.

https://www.statista.com/statistics/416212/average-annual-wages-ireland-y-on-y-in-euros/

This gives it at 55k.

CSO gives weekly earning at 1015/ week or 53k a year. Links not copying right. But you can Google and check it out.

https://www.cso.ie/en/releasesandpublications/ep/p-elcq/earningsandlabourcostsq12025finalq22025preliminaryestimates/

https://www.cso.ie/en/statistics/earnings/earningsandlabourcosts/

Cork is the second largest city in the state. It's would have above average full time wages. While your 2 bed terrace cost that. Most two bed terraced in Cork county on sale on Daft along with townhouses, duplexes and apartments are coming in under 250k.

I did not manage my sons build he managed that, he did the research on flat roofs, air tightness, air to water systems etc. I just hung along. I am using mostly his trades and his contacts for my daughters house it's not rocket science.

Are they privileged ya I tell them all the time. I left home in my mid teens to start an apprenticeship. My hands played pocket billiards with my wealth leaving home. My mother was widowed twice. The first time she was left with 6 children under the age of 12 of years of age in the mid1960's. II was more privileged than my choldren to be brought up.by my mother. I am just passing a bit of privilege on. What am I supposed to do with it

But sh!t that is anecdotal life experience from an old foggie

A house like that wouldn't do the precious creatures now. 🤣🤣 .

Most likely wouldn't pass current building regs either. They are totally incomparable to 2008 thanks to the green agenda.

No Mates rates he is not working in the building sector, he just sourced these trades, he knew only one previously and that was the electrician all the rest it was tge first time we dealt with them

Daughter always buy about 50+ euro witjnif messages a week, som probably not as much but hebl is doing 15+ hours of unpaid farm work a week.my daughter finished with a boyfriend about a year abd a half ago. Before that she was renting and had her own accommodation since leaving college she was away from homerhen as,well. Son was similar was in Australia and NZ for nearly 5 years. Came home 3 and a half years ago and started building about 20 months ago

So, quick model, comparing 1997 (when I bought my first house) with today, to illustrate how wildly offbeam avocadoism is. I’m rounding all the figures here to the nearing €100, for ease of discussion.

Buying a house in 1997

The mean house price in Ireland in 1997 was (the equivalent in pounds of) €102,700.

But first homebuyers don’t buy the average house; they buy starter homes, which cost less than average. I can’t find figures for the average price of a starter home in 1997, but lets say that it cost 80% of the mean house price: €82,200.

Average earnings in Ireland in 1997: €21,700.

You might think that first homebuyers, being in their 20s or early 30s, also don’t earn average earnings. On the other hand, homebuyers are drawn from the more prosperous end of the population; your average 25-year old homebuyer is earning more than your average 25-year old. So let’s assume that these two factors more or less cancel one another out; our first-time homebuyer is trying to finance the purchase with the average earnings of €21,700.

In 1997, mortgage lenders will advance 3.5 times salary: €75,800.

So the deposit they need to buy the house (ignoring stamp duty, conveyance costs, etc, etc, just the purchase price of the house) is €(82,200 - 75,800 =) 6,400.

This is equal to about 3.5 months of their pre-tax earnings.

If they can save 10% of their pre-tax earnings (which is a pretty demanding target that not many people meet in real life) that will take about 2 years and 11 months.

Right. How does it look for a first-time buyer in 2025?

Buying a house in 2025

Mean house price is €357,900.

80% of this, for a starter home, is €286,300.

Average earnings: €52,800.

As a first-time buyer, they can get a mortgage of four times earnings: €211,200.

Deposit they need: €(286,300 - 211,200 =) 75,100.

This is equal to about 17.1 months of pre-tax earnings.

If they can save 10% of their pre-tax earnings, they will achieve this in about 14 years and 3 months.

So, the big difference between our 2025 buyer and our 1997 buyer is not that our 2027 buyer eats avocado toast and has a really nice phone. It’s that they need a deposit that is, relative to their earnings, nearly five times greater than the deposit their parents needed. To save this out of their earnings, the little luxuries they will have to defer until they are in their 40s are not breakfast out on Saturdays and city breaks now and then; they are things like rent, retirement savings and children.

There were several other reasons, it is a rural area, no apartments in the area. The road they will take is only 8-10ft when you turn the other way out of the estate, the planning indicates that they should out turn out one way into the bottleneck:)

Only 10% of houses occupied and there were 2 crashes last week.

They redesigned the road really well for the 400-500 metres of the estates with bike lanes, etc and then after that it is the 8ft-10ft section that is already heavily used as a school run and a business park run at 7:30-8:45am & 4:30pm-6pm.

Objections are not to the houses being there, the planning was for 120 houses which was refused and then as part of the strategic housing planning it was approved when they put forward for 300+ units.

Objections are to what will happen, massively increased usage of a rural road which needs to be upgraded before there are fatalities, etc

Developing large estates should have future planning; if there are 500+ children in the estate and the school which is 500 metres away has no/very limited availability as siblings of existing kids get preference then it is not great for family life.

There is no new school being built as per the planning documentation from 5+yrs ago.

The result is you will have kids living next door going to different schools, harder to car pool, etc. All small things perhaps but I think they are all very much linked to the quality of your lifestyle; the ability to share collections, etc all help & foster better neighbourhoods imho.

I have no issue with the houses or apartments, we are a kilometre away.

I have worked from home for 25yrs which was a personal choice for a better quality of life; again people thought I was mad to do that for many years so everyone has their own view on what works for them & those close to them.