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Irish Property Market 2020 Part 2

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Comments

  • #1452
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    Marius34 wrote: »
    What it was said, that in previous years there were small number of myhome property price reduction, only 20 decrease per week, but currently the adds starts to reduce price 5 times more, to 100 per week.
    As this is 5 times in difference, it just simply suspicious that something is missing here. As many stories in here provided has false information, some of the posters I have correct.
    In this case, I have never followed myhome add price reduction, so don't know what's the real story. But now that the one who reported those stats does not want to tell where he gets past data what it used to be, I think it may be made up numbers.

    Here are the latest figures
    https://www.myhome.ie/pricechanges
    I have no idea where one would get historical figures.


  • #1453
    Hulk Hands
    Registered Users, Registered Users 2 Posts: 6,016 ✭✭✭Hulk Hands


    Springy Turf wrote: »

    Even if you agree with those who say the whole house of cards will fall apart - it seems very hard to predict when that might happen. Despite the economic turmoil, the stock market is in rude health. I have been amazed to see stocks just steadily climb for years, and now continue during this pandemic.

    I don't disagree with the rest of your post but the stock market overheating is almost solely down to the stimulus package. The FED have pumped near $5 Trillion into the economy and there's similar if smaller packages in Europe. There's conflicting opinions on how it'll all play out, especially for the common man, but it's what's propping up the market at present


  • #1454
    MacronvFrugals
    Registered Users, Registered Users 2 Posts: 1,028 ✭✭✭MacronvFrugals


    Hulk Hands wrote: »
    I don't disagree with the rest of your post but the stock market overheating is almost solely down to the stimulus package. The FED have pumped near $5 Trillion into the economy and there's similar if smaller packages in Europe. There's conflicting opinions on how it'll all play out, especially for the common man, but it's what's propping up the market at present

    Tesla currently trading at over 10x the price of Volkswagen seems like the Fed's presses are just pumping the market.


  • #1455
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    brisan wrote: »
    Here are the latest figures
    https://www.myhome.ie/pricechanges
    I have no idea where one would get historical figures.


    Some haircut on the Malahide semi-d, down €125k today.


    https://www.myhome.ie/residential/brochure/11-sonesta-malahide-dublin/4446097


  • #1456
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    woodchuck wrote: »
    Exactly. I'm mid-30s, my partner and I are engaged and recently went sale agreed on a house. We're keen to get ON with our lives. Moving home to our parents to wait things out for a couple of years is not in any way appealing to us at this stage of our lives. Frankly, it sounds like a nightmare at our age. We're also not keen to continue paying stupid amounts on rent and we're becoming increasingly frustrated with apartment living.

    I know there's a very good chance that the house we're buying will be worth a lot less in a few years. But I don't care. We're buying it to live in long-term, not as an investment. And the supply for houses in our price range in the area we want is barely a trickle - it'll probably be non-existent soon enough. You could wait for the market to bottom out, but there could be nothing left to buy.


    It is worth asking for a reduction..you have nothing to lose.

    Do a gazunder at the last minute on valuation grounds. They can only say no.

    As the guy in Dirty Harry said ..."I gots to know man"


  • #1457
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    awec wrote: »
    A good package on VR can literally mean early retirement for those who have worked long enough.

    Of course the fact that it's a redundancy means no backfill on the head, so there's still a job lost, but the actual person whose job it was could be heading for a very comfortable life.

    I though seriously about taking VR 4 years ago ,but now at 60 yrs of age i AM DEFINITELY taking it
    5 years gross pay in the hand after tax,a good AVC pot and a 44k pension whats to think about.
    I would say a lot of the long term people in BOI will jump at the chance


  • #1458
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    cisk wrote: »
    Some haircut on the Malahide semi-d, down €125k today.


    https://www.myhome.ie/residential/brochure/11-sonesta-malahide-dublin/4446097

    I know its a nice area and all, but paying even that much for a house in that state thats 2 minutes from Swords seems mental to me.


  • #1459
    awec
    Administrators Posts: 54,091 Admin ✭✭✭✭✭awec


    brisan wrote: »
    Go to some of the threads about the new build estates
    They all want the names of tilers ,flooring companies ,furniture companies before they move in .
    If its just 2 of you why do you need 3 bedrooms decorated and floored immediately

    Do you know how much it costs to carpet a bedroom? In the grand scheme of things it's a completely and utterly irrelevant cost, of no consequence whatsoever.

    Same as your fixation with stag dos. Another complete irrelevance.

    It wouldn't matter how frugal someone is, even if they live a life of sheer abject misery. It wouldn't matter if they were willing to move into a house that has literally nothing in it, concrete walls and plaster walls. It wouldn't matter if they never left their house for any sort of social occassion.

    They still wouldn't be able to buy a 3 bed semi on their apprenticeship wages like you were.


  • #1460
    awec
    Administrators Posts: 54,091 Admin ✭✭✭✭✭awec


    brisan wrote: »
    I though seriously about taking VR 4 years ago ,but now at 60 yrs of age i AM DEFINITELY taking it
    5 years gross pay in the hand after tax,a good AVC pot and a 44k pension whats to think about.
    I would say a lot of the long term people in BOI will jump at the chance

    I don't work in a bank but there has been VR a few times in places I've worked and every single time the number of people applying has been a lot larger than the number of redundancies available.

    People actually get seriously pissed off if they get refused it!


  • #1461
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    Bass Reeves wrote: »
    It would be especially attractive to older staff who came in under the old Bank clerk recruitment from school. I think the retirement age for these was 60. Another factor is if you have worked that long with an employer the redundancy tax free allowance is very generous. If the taxable part was paid in 2021 an employee's on 70k+ could walk away with 150k+.

    Depending on salary and length of service (SCSB) you could get 200k tax free plus statutory tax free .
    So after 40 years you could have 248k tax free if your package amounted to this


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  • #1462
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    cisk wrote: »
    Some haircut on the Malahide semi-d, down €125k today.


    https://www.myhome.ie/residential/brochure/11-sonesta-malahide-dublin/4446097

    All today too.

    6 Aug €695k
    6 Aug €675k
    6 Aug €575k

    If it keeps up, they'll be paying someone to take it off their hands by tea time.

    Alternatively, someone fecked up the listing. If I were the vendor I wouldn't be too impressed, on the other hand it's obviously getting attention so maybe it's deliberate.


  • #1463
    woodchuck
    Registered Users, Registered Users 2 Posts: 15,411 ✭✭✭✭woodchuck


    Pelezico wrote: »
    It is worth asking for a reduction..you have nothing to lose.

    Do a gazunder at the last minute on valuation grounds. They can only say no.

    As the guy in Dirty Harry said ..."I gots to know man"

    Well, presumably we risk losing the sale. There were 2 other bidders, so they could just go to the next highest offer if we threatened to pull out now. I don't want to play games. We're willing to pay the price we offered - it'd be different if we were actually serious about pulling out if we didn't get a reduction, but us asking would be purely out of greed. What happens if they call our bluff?


  • #1464
    awec
    Administrators Posts: 54,091 Admin ✭✭✭✭✭awec


    woodchuck wrote: »
    Well, presumably we risk losing the sale. There were 2 other bidders, so they could just go to the next highest offer if we threatened to pull out now. I don't want to play games. We're willing to pay the price we offered - it'd be different if we were actually serious about pulling out if we didn't get a reduction, but us asking would be purely out of greed. What happens if they call our bluff?

    It would depend how much you playing games pisses them off.

    It's certainly not greed to try reduce the price, you want to pay as little as you can get away with obviously, but the time to do that is before you go sale agreed. After sale agreed is playing games. How would you react if the seller came back after you went sale agreed and asked for more money?


  • #1465
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    woodchuck wrote: »
    Well, presumably we risk losing the sale. There were 2 other bidders, so they could just go to the next highest offer if we threatened to pull out now. I don't want to play games. We're willing to pay the price we offered - it'd be different if we were actually serious about pulling out if we didn't get a reduction, but us asking would be purely out of greed. What happens if they call our bluff?

    Well, I dont consider financial prudence to be greed. There is always another house.


  • #1466
    woodchuck
    Registered Users, Registered Users 2 Posts: 15,411 ✭✭✭✭woodchuck


    awec wrote: »
    It would depend how much you playing games pisses them off.

    It's not greed to try reduce the price, but the time to do that is before you go sale agreed. After sale agreed is playing games. How would you react if the seller came back after you went sale agreed and asked for more money?

    Yeah we're sale agreed, survey done, valuation done, contracts in. I can't imagine asking for a reduction at this stage!! And we wouldn't have asked before we went sale agreed either - like I said, there were 2 other bidders nibbling at our heels.


  • #1467
    javaboy
    Registered Users, Registered Users 2 Posts: 15,094 ✭✭✭✭javaboy


    Graham wrote: »
    All today too.

    6 Aug €695k
    6 Aug €675k
    6 Aug €575k

    If it keeps up, they'll be paying someone to take it off their hands by tea time.

    Alternatively, someone fecked up the listing. If I were the vendor I wouldn't be too impressed, on the other hand it's obviously getting attention so maybe it's deliberate.

    Yeah it's a mistake for sure. The same EA listed a different Malahide house at 695 today which looks a lot more like a 695 property.


  • #1468
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    awec wrote: »
    Do you know how much it costs to carpet a bedroom? In the grand scheme of things it's a completely and utterly irrelevant cost, of no consequence whatsoever.

    Same as your fixation with stag dos. Another complete irrelevance.

    It wouldn't matter how frugal someone is, even if they live a life of sheer abject misery. It wouldn't matter if they were willing to move into a house that has literally nothing in it, concrete walls and plaster walls. It wouldn't matter if they never left their house for any sort of social occassion.

    They still wouldn't be able to buy a 3 bed semi on their apprenticeship wages like you were.

    As I said I know 2 who have
    Saved hard for 2 years with their partner and got their house.
    Granted they qualified and went on to be kept on on 80k jobs but it can be done


  • #1469
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    awec wrote: »
    It would depend how much you playing games pisses them off.

    It's certainly not greed to try reduce the price, you want to pay as little as you can get away with obviously, but the time to do that is before you go sale agreed. After sale agreed is playing games. How would you react if the seller came back after you went sale agreed and asked for more money?

    This is called a gazunder. In the current market, gazundering is quite acceptable.

    Look at those falls today on myhome.ie.


  • #1470
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,202 ✭✭✭✭Cyrus


    Graham wrote: »
    All today too.

    6 Aug €695k
    6 Aug €675k
    6 Aug €575k

    If it keeps up, they'll be paying someone to take it off their hands by tea time.

    Alternatively, someone fecked up the listing. If I were the vendor I wouldn't be too impressed, on the other hand it's obviously getting attention so maybe it's deliberate.

    it looks relatively poor value at 575k so im sure the rest was a mistake.


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  • #1471
    woodchuck
    Registered Users, Registered Users 2 Posts: 15,411 ✭✭✭✭woodchuck


    Pelezico wrote: »
    Well, I dont consider financial prudence to be greed. There is always another house.

    That's not a risk I'm willing to take. I've already explained our personal circumstances and the lack of supply in the area we want.

    If this sale falls through, I'm genuinely concerned that we'll be stuck renting the apartment we're in for the foreseeable future.

    And like I said, we're well beyond sale agreed, so I don't think it's even possible to re-negotiate the price at this stage anyway.


  • #1472
    Springy Turf
    Closed Accounts Posts: 173 ✭✭Springy Turf


    woodchuck wrote: »
    And like I said, we're well beyond sale agreed, so I don't think it's even possible to re-negotiate the price at this stage anyway.

    There is also really no evidence that prices have dropped yet. Particularly if there is a low volume of sales at that price point in your chosen area.


  • #1473
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    Markitron wrote: »
    I know its a nice area and all, but paying even that much for a house in that state thats 2 minutes from Swords seems mental to me.

    Its a 10 min walk to Malahide village according to the map and a lot more than 2 mins from swords


  • #1474
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    woodchuck wrote: »
    That's not a risk I'm willing to take. I've already explained our personal circumstances and the lack of supply in the area we want.

    If this sale falls through, I'm genuinely concerned that we'll be stuck renting the apartment we're in for the foreseeable future.

    And like I said, we're well beyond sale agreed, so I don't think it's even possible to re-negotiate the price at this stage anyway.

    Until contracts are exchanged, you can do what you want. Hope it all goes well for you.

    A lot of falls today....circa 25 and 8 increases?

    The pace of decline is accelerating.

    I am genuinely surprised that everyone on this thread is not all over this easily accessible statistic.


  • #1475
    Springy Turf
    Closed Accounts Posts: 173 ✭✭Springy Turf


    Pelezico wrote: »
    Until contracts are exchanged, you can do what you want. Hope it all goes well for you.

    A lot of falls today....circa 25 and 8 increases?

    The pace of decline is accelerating.

    I am genuinely surprised that everyone on this thread is not all over this easily accessible statistic.


    Falls where? What were the falls per day this time last year?

    Here is august 2019: Here is august 2019: https://www.myhome.ie/pricechanges/page-252


  • #1476
    fliball123
    Registered Users, Registered Users 2 Posts: 7,506 ✭✭✭fliball123


    Pelezico wrote: »
    This is called a gazunder. In the current market, gazundering is quite acceptable.

    Look at those falls today on myhome.ie.

    There has been a constant of about 75% to 85% drops and the rest rises on myhome I have been watching this for months. The figure that is most intriging is the actual amount of property available which has gone down by about 15% since March. If that keeps going there will be feck all property left to go up or down


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  • #1477
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,202 ✭✭✭✭Cyrus


    Pelezico wrote: »
    Until contracts are exchanged, you can do what you want. Hope it all goes well for you.

    A lot of falls today....circa 25 and 8 increases?

    The pace of decline is accelerating.

    I am genuinely surprised that everyone on this thread is not all over this easily accessible statistic.

    you are aware of the difference between asking prices and selling prices? we may well see falls in achieved sales prices, but using price drops on myhome is futile.


  • #1478
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    Cyrus wrote: »
    you are aware of the difference between asking prices and selling prices? we may well see falls in achieved sales prices, but using price drops on myhome is futile.

    Falls in price expectation are a forward indicator for falls in prices. This is a repeat of last downturn.


  • #1479
    fliball123
    Registered Users, Registered Users 2 Posts: 7,506 ✭✭✭fliball123


    Pelezico wrote: »
    Falls in price expectation are a forward indicator for falls in prices. This is a repeat of last downturn.

    where to the 1/4th to 1/5th of prices rising on myhome fit into this? Also properties sold on PPR are up by over 100 on last week


  • #1480
    Cyrus
    Registered Users, Registered Users 2 Posts: 20,202 ✭✭✭✭Cyrus


    Pelezico wrote: »
    Falls in price expectation are a forward indicator for falls in prices. This is a repeat of last downturn.

    i like to stick to the facts personally, but you do you.


  • #1481
    ebayissues
    Registered Users Posts: 448 ✭✭ebayissues


    Nothing is clear cut as it seems.



    I still believe prices will decline in the short to medium term by 5 - 10%.


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  • #1482
    Springy Turf
    Closed Accounts Posts: 173 ✭✭Springy Turf


    This is the ESRI prediction:522289.png

    The baseline is if CoVid hadn't happened. The v shaped recovery is in the scenario where the economy is returning to normal this year. The Sluggish line is for continued tight restrictions.

    100 points on the index represents the prices for q1 2019.

    They are predicting a 14% drop by q4 2020 in the sluggish scenario.


  • #1483
    Marius34
    Registered Users Posts: 1,173 ✭✭✭Marius34


    Springy Turf wrote: »
    This is the ESRI prediction:https://www.boards.ie/vbulletin/attachment.php?attachmentid=522289&stc=1&d=1596733012

    The baseline is if CoVid hadn't happened. The v shaped recovery is in the scenario where the economy is returning to normal this year. The Sluggish line is for continued tight restrictions.

    100 points on the index represents the prices for q1 2019.

    They are predicting a 14% drop by q4 2020 in the sluggish scenario.

    It seems they failed with their predictions, it shows 6-8% price decrease by 2020 Q2, both in sluggish and v-shapped, so far the only close scenario from the graph is "baseline", as if covid didn't happen...


  • #1484
    Springy Turf
    Closed Accounts Posts: 173 ✭✭Springy Turf


    Marius34 wrote: »
    It seems they failed with their predictions, it shows 6-8% price decrease by 2020 Q2, both in sluggish and v-shapped, so far the only close scenario from the graph is "baseline", as if covid didn't happen...
    Seems like it. Is there data available comparing 2020 q2 prices vs 2019 q2 yet? I did hear of some prices being negotiated down during the CoVid period. The number of transactions would have been so low I guess its not worth trying to read into it anyway.


  • #1485
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    35 falls today and 6 rises.

    That is a new high.

    I will keep an eye on supply. It us likely that more houses will come on the market in Autumn with the traditional.autimn selling season.


  • #1486
    Sarn
    Registered Users, Registered Users 2 Posts: 3,091 ✭✭✭Sarn


    Pelezico wrote: »
    35 falls today and 6 rises.

    That is a new high.

    I will keep an eye on supply. It us likely that more houses will come on the market in Autumn with the traditional.autimn selling season.

    As a matter of interest, how many remained unchanged?


  • #1487
    fliball123
    Registered Users, Registered Users 2 Posts: 7,506 ✭✭✭fliball123


    Pelezico wrote: »
    35 falls today and 6 rises.

    That is a new high.

    I will keep an eye on supply. It us likely that more houses will come on the market in Autumn with the traditional.autimn selling season.

    I always thought summer was peak season


  • #1488
    fliball123
    Registered Users, Registered Users 2 Posts: 7,506 ✭✭✭fliball123


    Sarn wrote: »
    As a matter of interest, how many remained unchanged?

    the rest of the 18.5k that are excluded from his/her analysis


  • #1489
    fliball123
    Registered Users, Registered Users 2 Posts: 7,506 ✭✭✭fliball123


    Pelezico wrote: »
    35 falls today and 6 rises.

    That is a new high.

    I will keep an eye on supply. It us likely that more houses will come on the market in Autumn with the traditional.autimn selling season.

    Supply is down over 3k since March


  • #1490
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭brisan


    fliball123 wrote: »
    I always thought summer was peak season
    Summer is always quiet with holidays etc
    With no holidays and coming out of lock-down I would expect this summer to be busier than normal.
    Plus mortgages approved before the lock-down will be starting to expire


  • #1491
    Marius34
    Registered Users Posts: 1,173 ✭✭✭Marius34


    Springy Turf wrote: »
    Seems like it. Is there data available comparing 2020 q2 prices vs 2019 q2 yet? I did hear of some prices being negotiated down during the CoVid period. The number of transactions would have been so low I guess its not worth trying to read into it anyway.

    The latest report from CSO is for 2020 May transactions.
    https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexmay2020/
    There are no change so far between 2019 and 2020 prices.
    The number of transactions in April & May was lower by 50%, but there is some recovery from June/July, it's running around 30% below 2019 levels, so it's not that low.
    I have my own statistics, it's not as precise as CSO, but there is no real change in price visible for the months of June & July, thus I'm quite confident CSO will not record any significant change.


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  • #1492
    Pelezico
    Registered Users Posts: 681 ✭✭✭Pelezico


    Marius34 wrote: »
    The latest report from CSO is for 2020 May transactions.
    https://www.cso.ie/en/releasesandpublications/ep/p-rppi/residentialpropertypriceindexmay2020/
    There are no change so far between 2019 and 2020 prices.
    The number of transactions in April & May was lower by 50%, but there is some recovery from June/July, it's running around 30% below 2019 levels, so it's not that low.
    I have my own statistics, it's not as precise as CSO, but there is no real change in price visible for the months of June & July, thus I'm quite confident CSO will not record any significant change.
    j

    June July transactions down about 48 % on last year. Not sure where your stats ste coming from.


  • #1493
    Marius34
    Registered Users Posts: 1,173 ✭✭✭Marius34


    Pelezico wrote: »
    j

    June July transactions down about 48 % on last year. Not sure where your stats ste coming from.

    Same way as yesterday discussion that it will go over 2000
    Pelezico wrote: »
    Marius..I reckon we will struggle to hit 2000 in July and this will slow over the next few months.
    It's 2300 now, as mentioned previously looking at the trends it will be around 3000 (and possibly over) by beginning of next month.

    I can explain how i get those numbers, if you explain "your" stats about previous months/years myhome data :-)
    Pelezico wrote: »
    This is not correct. The number of falls has accelerated in the last few months.

    I now expect 100 falls per week. A few years ago, it was circa 20.


  • #1494
    Mic 1972
    Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭Mic 1972


    Pelezico wrote: »
    Falls in price expectation are a forward indicator for falls in prices. This is a repeat of last downturn.


    Correct


  • #1495
    Mic 1972
    Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭Mic 1972


    brisan wrote: »
    You do know the economy is on life support due to the Government pumping billions into it.


    yep, the result is high inflation


  • #1496
    The Belly
    Registered Users Posts: 572 ✭✭✭The Belly


    [/U]
    Mic 1972 wrote: »
    yep, the result is high inflation

    Ireland inflation rate for 2019 was 0.94%, a 0.45% increase from 2018. Ireland inflation rate for 2018 was 0.49%, a 0.15% increase from 2017. Ireland inflation rate for 2017 was 0.34%, a 0.33% increase from 2016.

    2020 currently stands at 0.4%

    Where's the high inflation? we are looking at deflation going forward.


  • #1497
    Hubertj
    Registered Users, Registered Users 2 Posts: 2,000 ✭✭✭Hubertj


    The Belly wrote: »
    [/U]

    Ireland inflation rate for 2019 was 0.94%, a 0.45% increase from 2018. Ireland inflation rate for 2018 was 0.49%, a 0.15% increase from 2017. Ireland inflation rate for 2017 was 0.34%, a 0.33% increase from 2016.

    2020 currently stands at 0.4%

    Where's the high inflation? we are looking at deflation going forward.

    What caused the significant increase from 2018 to 2019? It’s over 100% compared to much smaller % increases in previous years.


  • #1498
    Mic 1972
    Registered Users, Registered Users 2 Posts: 3,213 ✭✭✭Mic 1972


    The Belly wrote: »
    [/U]

    Ireland inflation rate for 2019 was 0.94%, a 0.45% increase from 2018. Ireland inflation rate for 2018 was 0.49%, a 0.15% increase from 2017. Ireland inflation rate for 2017 was 0.34%, a 0.33% increase from 2016.

    2020 currently stands at 0.4%

    Where's the high inflation? we are looking at deflation going forward.


    If the government is printing a lot of money to pump into the system there will be high inflation. That was my point from the start.
    Otherwise this will stay as they are and i'm more than happy with it


  • #1499
    Bass Reeves
    Registered Users, Registered Users 2 Posts: 18,966 ✭✭✭✭Bass Reeves


    awec wrote: »
    Do you know how much it costs to carpet a bedroom? In the grand scheme of things it's a completely and utterly irrelevant cost, of no consequence whatsoever.

    Same as your fixation with stag dos. Another complete irrelevance.

    It wouldn't matter how frugal someone is, even if they live a life of sheer abject misery. It wouldn't matter if they were willing to move into a house that has literally nothing in it, concrete walls and plaster walls. It wouldn't matter if they never left their house for any sort of social occassion.

    They still wouldn't be able to buy a 3 bed semi on their apprenticeship wages like you were.

    Everything is inconsequencal by itself but by adding everything up they make a difference.

    The first main difference is building standard, insulation, climate change costs, and certifiacation has added 30-50K to the average house. 1980's standard finish compared to finished expected now has added about another 30K to the standard house.

    Things like stag's latte's, meals out, holidays etc etc may cost the average 20 year old 10-15K a year. In the 1980's a Thursday night out was 5 pints and somebody drove home after. We might call to Kranks corner but only might. There was no 100 euro for a snort of Cocaine and we might hit Poldarks Saturday night if we were around and not gone home.

    3rd year apprentice on 40K and if his Girlfriend was on the same after tax saving one wage for 4 years is 127K. 3.5X80K =240K. That a total of 367K without an exemption, add in an exemption and you are hitting 400K

    Pelezico wrote: »
    Well, I dont consider financial prudence to be greed. There is always another house.

    And there is another bidder. If a bidder tried to a stunt like that on me I sell for less to other bidder rather than sell him the house.
    woodchuck wrote: »
    Yeah we're sale agreed, survey done, valuation done, contracts in. I can't imagine asking for a reduction at this stage!! And we wouldn't have asked before we went sale agreed either - like I said, there were 2 other bidders nibbling at our heels.

    People often forget the costs involved Survey and vauluation 1.5-2K nowadays, legal fees another 1-2K which you may have to pay if you do not complete the deal

    Slava Ukrainii



  • #1500
    awec
    Administrators Posts: 54,091 Admin ✭✭✭✭✭awec


    Bass Reeves wrote: »
    Everything is inconsequencal by itself but by adding everything up they make a difference.

    The first main difference is building standard, insulation, climate change costs, and certifiacation has added 30-50K to the average house. 1980's standard finish compared to finished expected now has added about another 30K to the standard house.

    Things like stag's latte's, meals out, holidays etc etc may cost the average 20 year old 10-15K a year. In the 1980's a Thursday night out was 5 pints and somebody drove home after. We might call to Kranks corner but only might. There was no 100 euro for a snort of Cocaine and we might hit Poldarks Saturday night if we were around and not gone home.

    3rd year apprentice on 40K and if his Girlfriend was on the same after tax saving one wage for 4 years is 127K. 3.5X80K =240K. That a total of 367K without an exemption, add in an exemption and you are hitting 400K




    And there is another bidder. If a bidder tried to a stunt like that on me I sell for less to other bidder rather than sell him the house.



    People often forget the costs involved Survey and vauluation 1.5-2K nowadays, legal fees another 1-2K which you may have to pay if you do not complete the deal

    10k a year? 800 euro a month?

    What sort of 20 year old do you think has that sort of cash to splash about?


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  • #1501
    Bass Reeves
    Registered Users, Registered Users 2 Posts: 18,966 ✭✭✭✭Bass Reeves


    awec wrote: »
    10k a year? 800 euro a month?

    What sort of 20 year old do you think has that sort of cash to splash about?

    I was not talking about a 20 year old but rather people in there 20's and not all but a good few and I know a few.

    A coffee once a day 5 days a weeks cost 750 euro
    Buying a sambo 3 time a week 350 euro
    Lunch out once a week 500 euro per year
    Night out pub, club, ride(taxi) home 100 euro, once a week for a year 5K
    Snort of cocaine once a week 5K/year
    Meal out ever fortnight @ 25 euro costs 650 euro a year
    Weekend away abroad cheap budget 250-300 euro, expensive one 500+ two per year 600 euro
    Holiday abroad 500-1000 including spending money
    3 day stag in Ireland no C 500 euro with C add another 2-300 euro, add another 3-500 if in eastern Europe
    2-3 concerts 200 a pop
    Soccer or Heinken Cup match 500-1K

    Slava Ukrainii



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