Property Market 2018

LirW · 22-01-2018 6:32pm

While I appreciate that people freak out because the government are firing up an already heated market there are very little details on how easy it'll actually be to get one of these council mortgages.
I believe there will still be strict enough rules for low-income borrowers that have to be met. Nothing said about the length these applications take.
The scheme before re modelling didn't issue many mortgages.

Just because people are refused doesn't automatically qualify them for a council mortgage in the end. People with bad credit ratings und poor financial planning that's obvious on statements will still not get mortgages.
This scheme probably aims at people that just about don't meet the disposable income levels like parents that have creche fees to pay or people that wouldn't qualify for a mortgage because they can't get the necessary insurance for it because of medical reasons.

Let's come back in a year and see how many mortgages have been issued through that scheme.

Cyrus · 22-01-2018 6:41pm

Villa05 wrote: »

Think it's been changed to 10%

only for FTB:

Since 1 January 2017: For first-time buyers of principal dwelling homes the limit of 90% LTV applies on the full value of all residential property, so first-time buyers will need a deposit of 10% for any house or apartment, regardless of price.

For non-first-time home-buyers, there is a limit of 80% of LTV on new mortgage lending, whatever the price of the property, so they will need a deposit of 20% of the total purchase price.

theboringfox · 22-01-2018 7:25pm

LookingFor wrote: »

Which the government is now bypassing :rolleyes:

Anyone earning 50-80K looking to buy a home up to 320K - your taxes are going to help sub-prime borrowers break the rules and outbid you on the market.

Spot on

theboringfox · 22-01-2018 7:27pm

GingerLily wrote: »

Its ridiculous, you can just ask the bank for a mortgage now for > 5 times your income, the banks will have to refuse you and you can then get this deal.

So so stupid....

Still needs to meet central bank rules. Only focused on if turned down really because of concerns to service interest in stress scenario. Removed here by fix rate for life of loan.

Unreal deal if you can get it.

phunkadelic · 23-01-2018 10:46am

Cyrus wrote: »

only for FTB:

Since 1 January 2017: For first-time buyers of principal dwelling homes the limit of 90% LTV applies on the full value of all residential property, so first-time buyers will need a deposit of 10% for any house or apartment, regardless of price.

For non-first-time home-buyers, there is a limit of 80% of LTV on new mortgage lending, whatever the price of the property, so they will need a deposit of 20% of the total purchase price.

Correct, but the bank can have exceptions for 20% of the total loan book value. When does that 20% reset does anyone know? I'm thinking it was Dec 31st, so there will be loads of exceptions to the rules again at the start of the calendar year.

Cuddlesworth · 23-01-2018 11:26am

phunkadelic wrote: »

Correct, but the bank can have exceptions for 20% of the total loan book value. When does that 20% reset does anyone know? I'm thinking it was Dec 31st, so there will be loads of exceptions to the rules again at the start of the calendar year.

Start of the year. But I was being offered exceptions right up to the end of the year so I'm not sure if there is a absolute glut of them at the start of the year.

CalRobert · 24-01-2018 10:56am

KellyXX wrote: »

I don't cycle for health reasons, so it's buses and taxis only for me I'm afraid. Would be good if there was a train though.

And even if I did, I doubt I'd be able to cycle 90km in an hour.

If you are expecting people to cycle to work, you are seriously limiting the commuting distance, thereforw limiting the commutable city limits.

90 km?? You said you were 8km away. I agree that 90 would be quite long! But maybe we should reevaluate whether one can reasonably expect to have a decent commute and live 90km from their job?

"...I lived 9Km from the station, in a different town.
In Dublin I lived 8KM from work and it took me 1 hour and 20 minutes on average door to door for my commute...."

KellyXX · 24-01-2018 12:03pm

CalRobert wrote: »

90 km?? You said you were 8km away. I agree that 90 would be quite long! But maybe we should reevaluate whether one can reasonably expect to have a decent commute and live 90km from their job?

"...I lived 9Km from the station, in a different town.
In Dublin I lived 8KM from work and it took me 1 hour and 20 minutes on average door to door for my commute...."

No point reading one of my posts if you want the context. Read back a few more and it will explain my point that I was making.

Pepe LeFrits · 24-01-2018 12:31pm

Bob24 wrote: »

And also one thing we won’t get away with is that our weather doesn’t encourage cycling. Yes you can get propper gear and all, but rain and/or wind can make it fairly unpleasant. The UK is not that much better of course :-) ... but a few years ago I spent spring working from the south of France and definitely cycled more (both better cycle lanes and dryer weather helped).

For what it's worth there's a perception gap re: cycling in Dublin; people think the likelihood of getting wet is much greater than it is. Dublin isn't any wetter than Amsterdam or Copenhagen and they don't seem to have problems getting people out on their bikes.

ionapaul · 24-01-2018 1:26pm

I spent a year without a car a few years ago and my typical commute was; cycle from apartment in Grand Canal Dock up the canal to the Charlemont Luas stop, get Luas to Cherrywood, walk 5 minutes to my office. On days when it absolutely lashed I walked to Grand Canal Dock rather than cycle. I honestly could count on one hand the amount of days that year I got really, uncomfortable drenched.

Likewise, my current commute is; walk from home to nearby Luas stop in about three minutes, Luas for ten minutes to Sandyford, walk for about ten minutes to office. Don't drive no matter how wet it is.

It mightn't seem like it after a pretty miserable week weather wise, but our weather (in Dublin anyhow - grew up in Galway city and the weather was admittedly worse!) isn't really that bad. I'd let the lack of good bicycle lanes and the fact that many junctions are dangerous for those on a bike put me off cycling much, much more than any worry about the weather!

As someone mentioned above, I was in Copenhagen a few months ago and the weather was pretty bad for the entire visit yet the cycle lanes were packed and people were making their way around without too much trouble I think, wearing appropriate gear.

That's a little off-topic maybe, apologies - on topic I really hope we've seen the last of the big annual increases in house prices as supply comes on board throughout the country, we are in dangerous territory right now. I'm a homeowner as of 2015 but recognise that higher prices are bad for the country and definitely bad for my own family; might want to move to a bigger house down the line and as prices increase, despite our net worth rising it makes moving to a bigger house much more difficult! It would actually be in my interest for house prices to drop over the long term, would happily take the hit in terms of our equity if it meant a lower deposit and mortgage for a future move.

Bob24 · 24-01-2018 2:16pm

Pepe LeFrits wrote: »

For what it's worth there's a perception gap re: cycling in Dublin; people think the likelihood of getting wet is much greater than it is. Dublin isn't any wetter than Amsterdam or Copenhagen and they don't seem to have problems getting people out on their bikes.

It’s not just rain (I walk to work everyday and it’s not a massive issue indeed). It’s also the humidity and the wind which I (and I think others) find especially unpleasant while cycling. Plus if it indeed rains like mad when it is time to go home and you have your own bike with you you either have to cycle though the rain or leave it somewhere whereas if you’re walking you can always use an alternative transport method with nothing to leave behind. So my view is that if there were better cycle lanes I would probably use Dublin Bike a lot more for relatively short journeys through the central areas of the city. But even with good infrastructure I probably would’t commit to long enough rides on a daily basis in good part due to the weather and having to take care of the bike when the weather is bad. Of course many people might think this is being picky and are already cycling for exemple among the N11, but still many will also thing like me which does make the weather a blocker.

And btw I don’t know about Amsterdam but I was comparing to the South of France :-) (though the problem there is probably heat in the summer months, I was there in Feb-May)

Alkers · 25-01-2018 4:26pm

Outkast_IRE wrote:

Take the time to write to your TD outlining your concerns. If enough people do it, it can only help, it certainly cant make it worse.

Anyone have a sample letter I can stick my name on? Very annoyed by this scheme, spend the 200m building

LincolnHawk · 25-01-2018 9:44pm

Simona1986 wrote: »

Anyone have a sample letter I can stick my name on? Very annoyed by this scheme, spend the 200m building

Very annoyed but not that annoyed to write your own letter ;-)

jsd1004 · 29-01-2018 12:03am

Bob24 wrote: »

Plus while some investors are leaving there are others coming in. And basically they just apply a multiplier to the potential rent to decide how much they are ready to pay for a property. And while rents are two high already, they can still get higher since people have no choice and many still have additional disposable income to squeeze.

Im a cash investor and there is 20-25% gross yields depending. You need to pay cash and work quick. I dont do residential. Student only or to a lessor extent rent a room or Airbnb

Henbabani · 06-02-2018 7:43am

any data for January?

handlemaster · 10-02-2018 9:35am

What is there left two/three years of price increases. I dont see any pull back coming any time soon. The stock market is a little rattled. .but would need to see 30% drop before we see a knock on affect

Henbabani · 12-02-2018 8:40am

another signs of slowdown:

https://www.independent.ie/business/personal-finance/property-mortgages/new-analysis-of-house-prices-shows-significant-slowdown-in-increases-for-first-time-36590464.html

Samuel T. Cogley · 12-02-2018 8:54am

Henbabani wrote: »

another signs of slowdown:

https://www.independent.ie/business/personal-finance/property-mortgages/new-analysis-of-house-prices-shows-significant-slowdown-in-increases-for-first-time-36590464.html

Yes in Dublin 4

. Not overly surprising. Look at D12 though - prices in double digits. This is actually one of the positive effects of expensive housing is it drives gentrification - which of course needs controlling in of itself but there are some areas in Dublin that really have been ripe for it for years. Start of the year (winter) is always slow as well.

Edit Sorry five areas of Dublin and 12 regional counties for the double digit increases. I'll bet you D12 is one of them.

theboringfox · 12-02-2018 8:55am

Henbabani wrote: »

another signs of slowdown:

https://www.independent.ie/business/personal-finance/property-mortgages/new-analysis-of-house-prices-shows-significant-slowdown-in-increases-for-first-time-36590464.html

I read that in the paper. Slowdown in growth seems to be only in areas such as D2 and D4 where affordability is topping out due to central bank cap on borrowing.

That's good news but the growth is still expected to be quite high across rest of country. Same will happen there in time as affordability caps out growth.

In the paper there was an article by Ronan Lyons about supply. Put together a good argument on why supply is the big issue.

I'd love to see house prices settle back to low single digit growth. Not good for society the way people are getting priced out right now.

Wanderer78 · 12-02-2018 10:17am

Samuel T. Cogley wrote:

Yes in Dublin 4 . Not overly surprising. Look at D12 though - prices in double digits. This is actually one of the positive effects of expensive housing is it drives gentrification - which of course needs controlling in of itself but there are some areas in Dublin that really have been ripe for it for years. Start of the year (winter) is always slow as well.

So gentrification is good?

Mickiemcfist · 12-02-2018 10:33am

Wanderer78 wrote: »

So gentrification is good?

Clearly, Dublin city centre is filled with dodgy estates/blocks of flats, if they were gentrified we'd have a much nicer city. Same way parts of Ringsend was a no go area for years but is now getting pretty trendy with GCD etc.

Wanderer78 · 12-02-2018 10:36am

Mickiemcfist wrote:

Clearly, Dublin city centre is filled with dodgy estates/blocks of flats, if they were gentrified we'd have a much nicer city. Same way parts of Ringsend was a no go area for years but is now getting pretty trendy with GCD etc.

So where do those go to that where once living there, and can they afford this new accomodation?

Mickiemcfist · 12-02-2018 10:40am

Wanderer78 wrote: »

So where do those go to that where once living there, and can they afford this new accomodation?

Presumably they'll have a nice chunk of change from the sale, so wherever?

Wanderer78 · 12-02-2018 10:43am

Mickiemcfist wrote:

Presumably they'll have a nice chunk of change from the sale, so wherever?

Does that actually work in reality, and what damage does this do to communities, and overall well being of these individuals?

heebusjeebus · 12-02-2018 10:43am

Wanderer78 wrote: »

So where do those go to that where once living there, and can they afford this new accomodation?

I think the main problem with gentrification is that the auld dubliners wont be able to afford the inflated cost of avocado toast etc..

Mickiemcfist · 12-02-2018 11:07am

Wanderer78 wrote: »

Does that actually work in reality, and what damage does this do to communities, and overall well being of these individuals?

I'm not an economist or a social worker so it's just my opinion. But to be honest I don't really care about some of the rough communities, surely rough people being around other rough people is bad for them long term? Seems to be pretty rare that they thrive in the environment, so I'd have thought them moving to a more socially diverse area would be better for all concerned.

Bob24 · 12-02-2018 11:36am

Henbabani wrote: »

another signs of slowdown:

https://www.independent.ie/business/personal-finance/property-mortgages/new-analysis-of-house-prices-shows-significant-slowdown-in-increases-for-first-time-36590464.html

I saw that yesterday and was laughing at this sentence:

“prices for four-bed semis and two-bed apartments in south county Dublin have also fallen back. For instance, two-bedroom apartments rose by just 2.5pc - increasing to €348,750.”

So prices for two beds in SCD have fallen, increasing by 2.5% ... Sure that makes sense :-D

Bob24 · 12-02-2018 11:42am

Wanderer78 wrote: »

So gentrification is good?

Depends on what it means to be good ...

If being against gentrification means that some areas of the city should remain affordable for the working class, I’m behind the idea.

If being against gentrification means that some areas of the city which are rough/unsafe/dirty can’t be changed/replaced because otherwise it would break a local “community”, I think it makes no sense.

saggart26 · 12-02-2018 11:45am

Henbabani wrote: »

another signs of slowdown:

https://www.independent.ie/business/personal-finance/property-mortgages/new-analysis-of-house-prices-shows-significant-slowdown-in-increases-for-first-time-36590464.html

I saw that yesterday and was laughing at this sentence:

“prices for four-bed semis and two-bed apartments in south county Dublin have also fallen back. For instance, two-bedroom apartments rose by just 2.5pc - increasing to €348,750.”

So prices for two beds in SCD have fallen, increasing by 2.5% ... Sure that makes sense :-D

Sentence makes sense to me.
Any idea what the 5 areas in Dublin are that are seeing double digit growth?

sightband · 12-02-2018 12:19pm

Wanderer78 wrote: »

So gentrification is good?

Mickiemcfist wrote: »

I'm not an economist or a social worker so it's just my opinion. But to be honest I don't really care about some of the rough communities, surely rough people being around other rough people is bad for them long term? Seems to be pretty rare that they thrive in the environment, so I'd have thought them moving to a more socially diverse area would be better for all concerned.

This is like a passage from the Ross O Carrol Kelly column in the Times.

Samuel T. Cogley · 12-02-2018 6:09pm

Gentrification is like anything - good in moderation. What needs to happen along with it is mixed social housing so it's impossible to buy a new build where you've not got social housing in the development. Social housing should be the norm and no different from the house next door. The ghettoization of area is simply bad all round which is what's happened in parts of Dublin. I'm in an area that's seen a posative change by having a smallish number of social housing tenants remaining and the rest in private ownership.

Unfortunately as with most Capitals a large number of people on lower salaries have to commute, that's already practical from North Co. Dublin, Kildare and Louth.

whatever76 · 12-02-2018 7:53pm

Cork market is not slowing down especially in City ; Not very much out there under 300k that is not in need of a significant upgrade !

frefrefre · 12-02-2018 8:17pm

whatever76 wrote: »

Cork market is not slowing down especially in City ; Not very much out there under 300k that is not in need of a significant upgrade !

When you say the city, do you mean Douglas, Blackrock etc or nearer the centre? Plenty sub 300 in decent areas of Cork from what I’ve seen.

theboringfox · 12-02-2018 9:29pm

frefrefre wrote: »

When you say the city, do you mean Douglas, Blackrock etc or nearer the centre? Plenty sub 300 in decent areas of Cork from what I’ve seen.

I would agree that 300k in Cork in somewhere like Ballinllough is going to at best get you a small 3 bed Semi D in need of fair bit of modernisation. That makes them very dear as if trying to extend and modernise to make it more of a family home could all of a sudden be an expensive house.

GDK_11 · 12-02-2018 10:36pm

Evening all,

It’s probably been discussed already but what’s people’s thoughts on fixing or variable rates going forward?

We have 30 years on our mortgage and are currently on a variable at 3%. We are in a position to pay more then we are and would like to start chipping in to the mortgage, only really interest coming off at the moment.

Would changing the term then fixing be the way to go? Stay on variable and overpay on a regular basis or even fix and save up a decent chunk which we can then overpay when/if we come back on a variable.
I appreciate this is very much crystal ball territory and it’s only opinion but there seems to be some knowledgeable heads floating about here

Thanks

Mickiemcfist · 12-02-2018 10:41pm

GDK_11 wrote: »

Evening all,

It’s probably been discussed already but what’s people’s thoughts on fixing or variable rates going forward?

We have 30 years on our mortgage and are currently on a variable at 3%. We are in a position to pay more then we are and would like to start chipping in to the mortgage, only really interest coming off at the moment.

Would changing the term then fixing be the way to go? Stay on variable and overpay on a regular basis or even fix and save up a decent chunk which we can then overpay when/if we come back on a variable.
I appreciate this is very much crystal ball territory and it’s only opinion but there seems to be some knowledgeable heads floating about here

Thanks

The general consensus is that interest rates will go up. Penalties are often payable if you overpay a fixed rate mortgage, so calculate how much you think you can overpay by & leave that portion variable, then overpay it.

whatever76 · 12-02-2018 11:53pm

theboringfox wrote: »

I would agree that 300k in Cork in somewhere like Ballinllough is going to at best get you a small 3 bed Semi D in need of fair bit of modernisation. That makes them very dear as if trying to extend and modernise to make it more of a family home could all of a sudden be an expensive house.

thats it exactly - you struggle big time to get a house in ballinlough under 300k . anywhere in a mature type area that are old type home are very much between 250-300 that need alot of work so makes them v expensive and you get into a bidding war with these type of houses as well . trust me - am going through it at the moment - its deadly. Glammire/Carriglaline/Midleton are fine and it get a good house for 300 k but in around the city - lough, mointenotte, turners cross, parts of douglas, blackrock is v competive and houses are going well over the asking !

GingerLily · 12-02-2018 11:58pm

Mickiemcfist wrote: »

The general consensus is that interest rates will go up. Penalties are often payable if you overpay a fixed rate mortgage, so calculate how much you think you can overpay by & leave that portion variable, then overpay it.

This, I fixed the whole mortgage for 5 years but I could have kept 10% or so on a variable, silly mistake really but I was under pressure to get my application through (new builds), so didn't do it at the time!

Cyrus · 13-02-2018 12:03am

GingerLily wrote: »

This, I fixed the whole mortgage for 5 years but I could have kept 10% or so on a variable, silly mistake really but I was under pressure to get my application through (new builds), so didn't do it at the time!

Check the penalty if you overpay (if you want to ) it’ll likely be nil or close to it

frefrefre · 14-02-2018 4:22pm

whatever76 wrote: »

thats it exactly - you struggle big time to get a house in ballinlough under 300k . anywhere in a mature type area that are old type home are very much between 250-300 that need alot of work so makes them v expensive and you get into a bidding war with these type of houses as well . trust me - am going through it at the moment - its deadly. Glammire/Carriglaline/Midleton are fine and it get a good house for 300 k but in around the city - lough, mointenotte, turners cross, parts of douglas, blackrock is v competive and houses are going well over the asking !

Turners cross has 3 beds for sub 200k. Plenty around 250k in Douglas too. Presume there's a premium for being inside the ring road in Cork, hence why Ballintemple, Blackrock etc are more expensive?
Still a lot of value in comparison to Wicklow, North Kildare. We won't even mention the capital.

robcass78 · 14-02-2018 5:04pm

frefrefre wrote: »

Turners cross has 3 beds for sub 200k. Plenty around 250k in Douglas too. Presume there's a premium for being inside the ring road in Cork, hence why Ballintemple, Blackrock etc are more expensive?
Still a lot of value in comparison to Wicklow, North Kildare. We won't even mention the capital.

Rates are forecasted to rise following EU rises, starting with rate rise in Sept. Check Euribor rates. http://www.euribor-rates.eu/euribor-rates-by-year.asp

In the UK, rates in banks rose, but banks chose to take the profit hit rather than lose to competitors.

In Ireland, having rates that deliver the most profit in EU banks, and twice the EU average, you can bet the banks will pass the rate rises onto consumers, as we've the least competitive banking sector in the EU.

Of course, there is a proposal at Oireachtas for two things to change on rates; 1. bring in community banks that will lend at 0.8% variable and 1% fixed for 20 years.
2. Allow Irish borrowers access to EU rates which is what Leo wants. Which are 0.5% to 1%.

But no mortgage holder wants to save 3-4k a year on a 200k mortgage when that bank rolls out or get access to EU rates, so no mortgage holder has asked their TD to bring in that proposal.

draiochtanois · 14-02-2018 5:06pm

This post has been deleted.

Shedite27 · 14-02-2018 5:14pm

robcass78 wrote: »

Of course, there is a proposal at Oireachtas for two things to change on rates; 1. bring in community banks that will lend at 0.8% variable and 1% fixed for 20 years.
2. Allow Irish borrowers access to EU rates which is what Leo wants. Which are 0.5% to 1%.

But no mortgage holder wants to save 3-4k a year on a 200k mortgage when that bank rolls out or get access to EU rates, so no mortgage holder has asked their TD to bring in that proposal.

What do you mean by that?

frefrefre · 14-02-2018 6:08pm

draiochtanois wrote: »

Care to share some links?

handlemaster · 14-02-2018 6:59pm

Plenty of property in Dublin 15 under 300k. No property crisies yet

theboringfox · 14-02-2018 8:55pm

frefrefre wrote: »

Sure:

https://touch.daft.ie/cork/houses-for-sale/douglas/2-the-avenue-greenvalleydonnybrook-douglas-cork-1643946#close-modal

https://touch.daft.ie/cork/houses-for-sale/douglas/34-the-borough-maryborough-hill-douglas-cork-1647141

https://touch.daft.ie/cork/houses-for-sale/turners-cross/57-upper-friars-road-turners-cross-cork-1649453

https://touch.daft.ie/cork/houses-for-sale/douglas/27-inchvale-park-shamrock-lawn-douglas-cork-1600630

https://touch.daft.ie/cork/houses-for-sale/douglas/154-curragh-woods-frankfield-douglas-cork-1592755

https://touch.daft.ie/cork/houses-for-sale/douglas/1-trinity-hall-carrigaline-road-douglas-cork-1332295

https://touch.daft.ie/cork/houses-for-sale/douglas/34-the-lawn-westgrove-donnybrook-douglas-cork-1547476

https://touch.daft.ie/cork/houses-for-sale/douglas/43-glenview-grange-douglas-cork-1638743

Lots of good options there. But point holds up that if you come inside south ring road to even a ballinllough in Cork City which is less well regarded than ballintemple and blackrock you are paying 300k for doer upper.

Not saying thats good or bad decision but there is serious premium on some locations.

robcass78 · 15-02-2018 1:23am

Villa05 wrote: »

One of the core issues hindering supply is the availability of competitive loans to developers. I believe interest rates for developing property are in the double digits.

The Government giving more money to fuel the demand side while completely ignoring supply side issues is more evidence that they are a big part of the problem.

We are firmly in a bubble and the government is complicit in fully supporting it.

They have seen that the central bank rules have taken some air out of the bubble and have been trying to circumvent those rules for some time.

In a normal economy a person on the salary levels spoken about which are way over the average income should have no issues in housing themselves

Absolutely spot on; lending from banks is 70% below demand for homes (population growth/2.7 people per unit).

Rates are 10-12% for build loans, which adds 20-30% onto the cost of the house.

Further, land value are a function of debt; "goal seek"; land value is 20% of the build cost to justify profits for land owner.

So the interest is on top of an inflated land value.

Finally, the irish banks ask for min 15% profit from construction, further adding to the costs.

All this means the interest, plus fictitious profit on land, plus 15% profit requirement adds 40-50k to the cost of a home.

Add in goverment income and fees, and everything in the chain on "% of house price" benefits (agents, solicitors, govt).

Then the government lobs vat & fees of 40% on top.

Finally, the bank makes then 3 to 3.5%

And all the while, the home build supply is c10,000 units a year, when 50,000 units are needed, causing home prices/mortgages / income to banks and bank balance sheet values to increase.

There is going to be 10-20% growth until supply catches up with demand. That's 3-5 years off yet.

Happy days for the banks. And landlords. Hell for teachers, nurses.

And when it pops, people will say "but how is this a bubble?" as the root cause; financing of the supply, won't matter, as banks will then mop up the assets and sell to private equity.

The solutions?

1. Build 50,000 not 10,000 a year
2. Finance the builds via community bank model (3%, not 1%) not commercial banks, saving 20-40k on the house price.
3. Issue mortgages via the bank at 1%, not 3%; that's a saving of 3-4k a year on mortgages
4. Drop VAT on purchase as it's wooden dollars. It simply inflates the price, and the 5 fold increase in construction delivers 5x more income & jobs than VAT
5. Build social homes and stop HAP payments of 8bn a year once homes built, saving 8bn in taxes.
6. Drop the taxes saved, resulting in more income for young people.
7. Bring in precast companies who build in UK & China for 40% less and higher quality, but faster build time by 40%.

That will stabilise price growth to 3-4%, but drop house costs to 120k from current 200-220k, shrinking the upward price pressure.

If we don't, we'll lose a generation not just private sector, but teachers, nurses & carers. And it's difficult to get them back in any short period of time (3-5 years).

GDK_11 · 15-02-2018 10:26am

Mickiemcfist wrote: »

The general consensus is that interest rates will go up. Penalties are often payable if you overpay a fixed rate mortgage, so calculate how much you think you can overpay by & leave that portion variable, then overpay it.

Thanks for your response, unfortunately or mortgage provider will not allow us to do this. It’s only for new customers apparently

Fixing looks the way to go but it’s frustrating we can’t overpay

draiochtanois · 15-02-2018 10:27am

This post has been deleted.

optogirl · 15-02-2018 10:28am

handlemaster wrote: »

Plenty of property in Dublin 15 under 300k. No property crisies yet

ah come off it

Property Market 2018

Comments