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House prices.

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    #32
    drunkmonkey
    Registered Users Posts: 28,119 ✭✭✭✭drunkmonkey


    lleti wrote: »
    I feel like people see house prices as sensible currently compared to the insane rents

    Very true where rents aren't insane house prices are sensible.

    This is the price of a 3 bed semi in Dublin
    https://www.daft.ie/12131356


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    #33
    PokeHerKing
    Registered Users Posts: 4,298 ✭✭✭PokeHerKing


    drunkmonkey wrote: »
    Very true where rents aren't insane house prices are sensible.

    This is the price of a 3 bed semi in Dublin
    https://www.daft.ie/12131356

    Yeah rents are the only difference between Dublin and Tipp....


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    #34
    charlietheminxx
    Registered Users Posts: 2,579 ✭✭✭charlietheminxx


    drunkmonkey wrote: »
    This is the price of a 3 bed semi in Dublin
    https://www.daft.ie/12131356

    In some parts of Dublin yes, but in others you can get a 3 bedroom house for 200,000 - 350,000.


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    #35
    Wesser
    Registered Users Posts: 1,813 ✭✭✭Wesser


    somebody posts this question weekly.
    just look through old threads
    answer is : no one knows.


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    #36
    SozBbz
    Registered Users Posts: 1,889 ✭✭✭SozBbz


    drunkmonkey wrote: »
    Very true where rents aren't insane house prices are sensible.

    This is the price of a 3 bed semi in Dublin
    https://www.daft.ie/12131356

    You'd also want to have a lot of cash for the maintenance and upkeep of such a property.

    Nonsense comparison.


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    #37
    dotsman
    Registered Users Posts: 3,635 ✭✭✭dotsman


    JJJackal wrote: »
    I would suggest that the salary figures I picked are at the lower end of the nurse and garda salary scales

    Indeed - a garda on €35K? Without promotion, a typical garda will be on circa 50K + allowances+ a bucketload of overtime by the time they are 30.

    Given that most people are > 30 by the time they are buying a house and having kids, a Garda/Nurse combo would be well in excess of 100K household income.


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    #38
    mariaalice
    Registered Users Posts: 12,390 ✭✭✭✭mariaalice


    dotsman wrote: »
    Indeed - a garda on €35K? Without promotion, a typical garda will be on circa 50K + allowances+ a bucketload of overtime by the time they are 30.

    Given that most people are > 30 by the time they are buying a house and having kids, a Garda/Nurse combo would be well in excess of 100K household income.

    They will be living the dream with their 350k morgage and childcare costs on the income.


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    #39
    JJJackal
    Registered Users Posts: 1,016 ✭✭✭JJJackal


    mariaalice wrote: »
    They will be living the dream with their 350k morgage and childcare costs on the income.

    No one said they are living the dream. The point is they can afford the median house


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    #40
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    dotsman wrote: »
    JJJackal wrote: »
    I would suggest that the salary figures I picked are at the lower end of the nurse and garda salary scales

    Indeed - a garda on €35K? Without promotion, a typical garda will be on circa 50K + allowances+ a bucketload of overtime by the time they are 30.

    Given that most people are > 30 by the time they are buying a house and having kids, a Garda/Nurse combo would be well in excess of 100K household income.

    Most people completely underestimate how much guards and nurses earn


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    #41
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    A garda ,nurse combo can earn over 75k,
    so basically most single people will only be able to afford a 1 bed apartment in dublin, most house buyers will be couples .
    I read dublin,s population will increase by 300k ,plus
    in 10 years .
    I don,t think brexit will cause any significant fall in house price,s in dublin
    maybe prices will fall by 2-3 per cent .
    Of course if you are 20 years old working in retail on an average you are probably hoping for house prices, to fall .


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    #42
    JJJackal
    Registered Users Posts: 1,016 ✭✭✭JJJackal


    riclad wrote: »
    A garda ,nurse combo can earn over 75k,
    so basically most single people will only be able to afford a 1 bed apartment in dublin, most house buyers will be couples .
    I read dublin,s population will increase by 300k ,plus
    in 10 years .
    I don,t think brexit will cause any significant fall in house price,s in dublin
    maybe prices will fall by 2-3 per cent .
    Of course if you are 20 years old working in retail on an average you are probably hoping for house prices, to fall .

    The average earning couple should be able to afford the average house. This is currently the case.

    House prices are probably never going to be at a level where the average earning single person can afford more than a one bed in a capital city. This is true all over the world


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    #43
    Q&A
    Registered Users Posts: 555 ✭✭✭Q&A


    from_atozinc wrote: »
    Hi

    This maybe a hard one to call as nobody really knows how things will go. What do ye reckon with Brexit? Will house prices go up or down.

    I know it’s a very high level question. Just wondering what ye think.

    Tail of 2 regions.

    Dublin with its finance and IT centers are probably well insulated against Brexit. If anything it might have had a boost with forms relocating to those areas. At the same time some people might be delaying purchasing in case prices fall. IMO will Brexit lead to mass unemployment or wage cuts in Dublin -probably not. Given how services based Dublin is it should weather any Brexit storm reasonably well. The wait and see approach will pass.

    Rest of the country is probably more at risk as agriculture and border trade become more important.

    It's an oversimplification but the point is it's an uneven playing field and the answer will depend on where you live relative to Dublin.


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    #44
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    I read an expert , experts expect brexit will effect rural area,s , maybe companys that depend on exports to the uk.
    It will hardly effect dublin ,it may even encourage some companys to relocate offices to dublin or other urban locations ,
    So they have easy acess to the european market.


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    #45
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    riclad wrote: »
    A garda ,nurse combo can earn over 75k,
    so basically most single people will only be able to afford a 1 bed apartment in dublin, most house buyers will be couples .
    I read dublin,s population will increase by 300k ,plus
    in 10 years .
    I don,t think brexit will cause any significant fall in house price,s in dublin
    maybe prices will fall by 2-3 per cent .
    Of course if you are 20 years old working in retail on an average you are probably hoping for house prices, to fall .

    The average guard and nurse married couple are on over 100k combined


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    #46
    drunkmonkey
    Registered Users Posts: 28,119 ✭✭✭✭drunkmonkey


    Mad_maxx wrote: »
    The average guard and nurse married couple are on over 100k combined

    After tax? You pay your mortgage with your nett not your gross.


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    #47
    Allinall
    Registered Users Posts: 6,564 ✭✭✭Allinall


    drunkmonkey wrote: »
    After tax? You pay your mortgage with your nett not your gross.

    That’s irrelevant.

    The criteria for getting a mortgage are based on gross salaries.


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    #48
    AutoMan79
    Registered Users Posts: 158 ✭✭AutoMan79


    Hope prices go down 25-30 %


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    #49
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    THE exact salarys of a garda or nurse are not relevant to me , the point is most single people under 30 will only be able to get a mortgage on a 1 bed apartment, in dublin .
    I remember in the 90,s any single person working full time could afford to buy a house in dublin ,
    it might be in coolock or finglas or some other working class area, but at least they had a choice.Young people may have no choice but to rent for years while they try and save for a deposit .


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    #50
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    I think most young people under 30, will be hoping brexit will cause house price,s to fall ,obviously older working people with mortgages
    will hope they do not fall by more than a few per cent.


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    #51
    Nika Bolokov
    Registered Users Posts: 651 ✭✭✭Nika Bolokov


    Young people who are hoping for a house price fall should remember that they could also loose their jobs if the economy tanks, the government will again cut everything to the bone as this time they won't be able to borrow their way out and living in a miserable recession is horrible as family's are broken up and our most talented leave.


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    #52
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    Mortgage,s are 25 years plus, i don,t think it would make much difference if price,s declined by 10-20 per cent.
    It would reduce the amount of new house,s being built and of course it will
    put many people into negative equity .i,m not a economist so its probably
    a lot more complicated than that .
    It may could make it harder for first time buyers to get a mortgage .


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    #53
    Sarn
    Registered Users Posts: 3,061 ✭✭✭Sarn


    Between 1996 and 2016 Ireland’s population increased by just over 30%, that’s just over a million people. That, combined with far more dual income families, has effectively pushed property out of reach of single applicants in some areas.


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    #54
    JJJackal
    Registered Users Posts: 1,016 ✭✭✭JJJackal


    Should a single person under 30 be able to afford a semi d in Dublin? or a one bed apartment?

    I wouldnt think it reasonable to expect a single person under 30 on the average income for that age to be buying a semi d in Dublin.


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    #55
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    drunkmonkey wrote: »
    Mad_maxx wrote: »
    The average guard and nurse married couple are on over 100k combined

    After tax? You pay your mortgage with your nett not your gross.

    Are you a siptu union spokesperson doing an interview with RTE?

    Everyone else quotes gross when referring to salaries


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    #56
    drunkmonkey
    Registered Users Posts: 28,119 ✭✭✭✭drunkmonkey


    Mad_maxx wrote: »
    Are you a siptu union spokesperson doing an interview with RTE?

    Everyone else quotes gross when referring to salaries

    When talking about affordability I think nets the figure to use. Fine saying Guards and nurses are on 100k but that's not what's left before they pay their mortgage every month. Probably closer to 80k take out 1500pm in cresh fees, 2 cars, food and everything else needed to run a house there's not enough there to service a 500k mortgage even 350 will be a strain.


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    #57
    SozBbz
    Registered Users Posts: 1,889 ✭✭✭SozBbz


    drunkmonkey wrote: »
    When talking about affordability I think nets the figure to use. Fine saying Guards and nurses are on 100k but that's not what's left before they pay their mortgage every month. Probably closer to 80k take out 1500pm in cresh fees, 2 cars, food and everything else needed to run a house there's not enough there to service a 500k mortgage even 350 will be a strain.

    As has already been pointed out to you, the figures used when calculating how much one can borrow are the gross salary figures, so talking net is just to confuse matters. Also, we are all subject to the same tax regime so it doesn't matter, we all know how much taxes are.

    I don't agree with your numbers, but even for arguments sake, isnt the real issue the cost of childcare rather than the cost of a house for this hypothetical couple?


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    #58
    paulieeye
    Registered Users Posts: 895 ✭✭✭paulieeye


    drunkmonkey wrote: »
    When talking about affordability I think nets the figure to use. Fine saying Guards and nurses are on 100k but that's not what's left before they pay their mortgage every month. Probably closer to 80k take out 1500pm in cresh fees, 2 cars, food and everything else needed to run a house there's not enough there to service a 500k mortgage even 350 will be a strain.

    do you understand how the mortgage rules work and what is been discussed here? the amount u can borrow is based off your gross.

    Please read this: https://www.centralbank.ie/consumer-hub/explainers/what-are-the-mortgage-measures


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    #59
    drunkmonkey
    Registered Users Posts: 28,119 ✭✭✭✭drunkmonkey


    paulieeye wrote: »
    do you understand how the mortgage rules work and what is been discussed here? the amount u can borrow is based off your gross.

    I do but I don't see what gross salary has to do with house price predictions. How did it drift onto mortgage rules.


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    #60
    Aldaniti
    Registered Users Posts: 14 ✭Aldaniti


    drunkmonkey wrote: »
    I do but I don't see what gross salary has to do with house price predictions. How did it drift onto mortgage rules.
    The amount of mortgage relative to gross salary is purely a guide to determine the maximum amount that can be borrowed.

    If you're carrying alot of expenses such as car loans then you'll have less disposable income.

    The bank will want to see that you're savings are the equivalent of the new mortgage payment.


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    #61
    Eric Cartman
    Registered Users Posts: 26,282 ✭✭✭✭Eric Cartman


    JJJackal wrote: »
    Should a single person under 30 be able to afford a semi d in Dublin? or a one bed apartment?

    I wouldnt think it reasonable to expect a single person under 30 on the average income for that age to be buying a semi d in Dublin.

    it was possible when our population was 30% less, 80% of households were single income and most people were popping out more kids to feed, so a generation that turned its back on all of that expects to be able to continue that for some reason....


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