So the 10% deposit I saved last year is now useless 😭😭😭
Jon_J_ on
Was enquiring at a place in Harold’s Cross, asking price of €475K, got email reply saying its now €564K.
Losing hope in getting a place
badger-biscuits on
Keep the recovery going
MumblyBum on
This is all by FF/FGs design.
Vote them out!
Quiet_Grocery_8854 on
I’ll just buy that dog house I’ve been looking at for a while
madra_uisce2 on
Due a baby next summer and still living at home trying to save. Feeling pretty hopeless that we will find a place before the child turns 1 🙁
GBSii on
Crazy how the increases in interest rates between 2022-2023 did not temper house-price inflation. The point of increasing interest rates is to curb demand, yet demand is so high in Ireland that the prices continued to rise.
The help to buy and first home schemes have obviously increased the prices of new-builds, that money goes straight into the pockets of developers. Sinn Fein want to get rid of those schemes to decrease prices but the prices won’t decrease because the supply is so limited, and if FF/FG get elected they’ll keep those schemes so the prices of new-builds will continue to increase.
Interesting how the rate of new property completions has increased dramatically in the past 2 years but that has had seemingly no positive impact on house prices because the deficit in supply is so ridiculously high that it will take years of at least 50,000 completions to make houses more affordable. So, they are going to keep getting more expensive.
Even if one of the parties who wants a State Construction Firm gets into power it will take years for State Construction to ramp up with a significant workforce to address our supply issue.
the Government since the last crash basically. not that they give a fuck as they know it will be some variation of FF/FG in power forever.
sweatyknacker on
For the majority of the voting population this is great news though.
Imbecile_Jr on
So essentially Darragh O’Brien is doing the job he was told to do?
CrispsInTabascoSauce on
Honestly, has anyone ever tried to build more houses and apartments in this country and not allowing nimbys to object to pretty much everything ?
Irsih people themselves are guilty of this housing disaster. It’s not aliens who raise these prices.
Ireland needs an urgent action and some serious reforms to move the needle and guess what? Nothing will happen in the next 100 years.
The same people who bitch about property prices will be the people who lodge objections to any new build in their area because it will devalue their property they just purchased.
Enjoy the mess you created yourselves.
Majestic-Syrup-9625 on
Ask yourself whether the government subsidies are fueling this or helping. Get FFG out. They are breaking Ireland
stevewithcats on
I am single and working in a good job, and i will never be able to afford to buy a house in my lifetime.
I will be a renter for life , which if I had rent security wouldn’t be too bad.
We bought an end of terrace ex council house for €600,000 last year. It also needs a lot of work, but the location and site are amazing, and we got lucky in coming into some unexpected money along with 3 promotions in 15 months from both of us. We were over the moon as it’s a perfect t place to live and
A few months ago, a few houses down, a mid terrace went for €590k.
People who continue to vote for this are voting to fuck over the millennials, gen z and incoming gen alphas. They better not act surprised when the far right who they are actively enabling the growth of due to nothing more than their own greed, take further advantage of this and become a major player in Irish politics, just as we have seen them so in so many other countries with these generations. They’ll deserve everything they get, except the rest of us will ha e to suffer through it too.
Business_Version1676 on
‘Moving Forward Together’
phyneas on
Andalfe on
It’s almost as if the politicians are all landlords.
Shanbo88 on
Surly it’s a bubble that’s gonna burst again. No way prices can keep going up like this.
Classy56 on
It want change until housing building exceeds population growth
Goo_Eyes on
Fantastic news for the majority of people.
– Feel like a genius for buying at a much lower price
– Building an equity buffer in case of any future property crash
– Can command higher rents if deciding to rent out a room or whole house
– Benefit from lower mortgage rates due to lower Loan to Value ratio
– Knowing wages will have to increase while their property purchase cost remains the same
– Option to release more equity in future if wanting to live out life on the high road
– Will have more money in their pocket if they decide to downsize in the future.
Us non homeowners can get fucked though.
AgentSufficient1047 on
I bought a house this year at 29. In one way, this is good news for me.
But I’m still going to vote Sinn Féin as I want this crisis to stop.
I will never forgive Fine Gael, Fianna Fáil, Labour or the Greens for the chronic stress they have put us through over the last 13+ years of crises.
My 20s were spent in unbounded misery and hardship due to the conditions they have presided over.
My “best years” spent in misery and stress, just to secure a roof over my head and put some distance between myself and the homelessness on the streets.
How anyone could return them to power is either delusional or totally selfish.
isogaymer on
Rising prices, particularly year after year, does not shield people from negative equity, as we discovered to our great pain in 2008 and after. A sustainable housing ‘market’, including stable prices would be more beneficial in that regard, but that would be in conflict with the governments stated aim of never allowing house prices to do anything but rise. Even if this actually means massive ongoing subsidies to the better off including landlords (HAP) and developers (help to buy). We learned virtually nothing from 2008 and that’s what makes this so galling and alarming.
jonnieggg on
Isn’t that great although. Make sure to vote for the incumbents if you want change.
Equivalent_Two_2163 on
Time to vote FF/FG out. They’ve had over 100 years to sort this out & they’ve done sweet FA. Talk is cheap. It’s high time for action.
berenandluthian31121 on
Is this not completely expected in a supply constrained market and evidence that lending limits are working?
The lending limits is now 4x income, if say a couple on whatever wage have seen an average salary increase of 2.5% in the last year which is just a cost of living increase their buying buyer rises 10% therefore houses in their range rise 10%
This is going to be the story until supply meets or exceeds demand, economic activity slows and/or we have stagnation in wage growth
29 Comments
So the 10% deposit I saved last year is now useless 😭😭😭
Was enquiring at a place in Harold’s Cross, asking price of €475K, got email reply saying its now €564K.
Losing hope in getting a place
Keep the recovery going
This is all by FF/FGs design.
Vote them out!
I’ll just buy that dog house I’ve been looking at for a while
Due a baby next summer and still living at home trying to save. Feeling pretty hopeless that we will find a place before the child turns 1 🙁
Crazy how the increases in interest rates between 2022-2023 did not temper house-price inflation. The point of increasing interest rates is to curb demand, yet demand is so high in Ireland that the prices continued to rise.
The help to buy and first home schemes have obviously increased the prices of new-builds, that money goes straight into the pockets of developers. Sinn Fein want to get rid of those schemes to decrease prices but the prices won’t decrease because the supply is so limited, and if FF/FG get elected they’ll keep those schemes so the prices of new-builds will continue to increase.
Interesting how the rate of new property completions has increased dramatically in the past 2 years but that has had seemingly no positive impact on house prices because the deficit in supply is so ridiculously high that it will take years of at least 50,000 completions to make houses more affordable. So, they are going to keep getting more expensive.
Even if one of the parties who wants a State Construction Firm gets into power it will take years for State Construction to ramp up with a significant workforce to address our supply issue.
Lowering interest rates will keep this going too
They can be voted out ye know.
https://preview.redd.it/rti8h2eb022e1.jpeg?width=400&format=pjpg&auto=webp&s=3d686f1efea076cf486cc8af9611ca432ce0034c
the Government since the last crash basically. not that they give a fuck as they know it will be some variation of FF/FG in power forever.
For the majority of the voting population this is great news though.
So essentially Darragh O’Brien is doing the job he was told to do?
Honestly, has anyone ever tried to build more houses and apartments in this country and not allowing nimbys to object to pretty much everything ?
Irsih people themselves are guilty of this housing disaster. It’s not aliens who raise these prices.
Ireland needs an urgent action and some serious reforms to move the needle and guess what? Nothing will happen in the next 100 years.
The same people who bitch about property prices will be the people who lodge objections to any new build in their area because it will devalue their property they just purchased.
Enjoy the mess you created yourselves.
Ask yourself whether the government subsidies are fueling this or helping. Get FFG out. They are breaking Ireland
I am single and working in a good job, and i will never be able to afford to buy a house in my lifetime.
I will be a renter for life , which if I had rent security wouldn’t be too bad.
But I have moved 6 times in the last 12 years
Having a house is pretty great ngl
https://preview.redd.it/a2g6q2ni322e1.png?width=1080&format=pjpg&auto=webp&s=c9e0e6e53dfcbf2018b55a498181a646ab79aff4
We bought an end of terrace ex council house for €600,000 last year. It also needs a lot of work, but the location and site are amazing, and we got lucky in coming into some unexpected money along with 3 promotions in 15 months from both of us. We were over the moon as it’s a perfect t place to live and
A few months ago, a few houses down, a mid terrace went for €590k.
People who continue to vote for this are voting to fuck over the millennials, gen z and incoming gen alphas. They better not act surprised when the far right who they are actively enabling the growth of due to nothing more than their own greed, take further advantage of this and become a major player in Irish politics, just as we have seen them so in so many other countries with these generations. They’ll deserve everything they get, except the rest of us will ha e to suffer through it too.
‘Moving Forward Together’
It’s almost as if the politicians are all landlords.
Surly it’s a bubble that’s gonna burst again. No way prices can keep going up like this.
It want change until housing building exceeds population growth
Fantastic news for the majority of people.
– Feel like a genius for buying at a much lower price
– Building an equity buffer in case of any future property crash
– Can command higher rents if deciding to rent out a room or whole house
– Benefit from lower mortgage rates due to lower Loan to Value ratio
– Knowing wages will have to increase while their property purchase cost remains the same
– Option to release more equity in future if wanting to live out life on the high road
– Will have more money in their pocket if they decide to downsize in the future.
Us non homeowners can get fucked though.
I bought a house this year at 29. In one way, this is good news for me.
But I’m still going to vote Sinn Féin as I want this crisis to stop.
I will never forgive Fine Gael, Fianna Fáil, Labour or the Greens for the chronic stress they have put us through over the last 13+ years of crises.
My 20s were spent in unbounded misery and hardship due to the conditions they have presided over.
My “best years” spent in misery and stress, just to secure a roof over my head and put some distance between myself and the homelessness on the streets.
How anyone could return them to power is either delusional or totally selfish.
Rising prices, particularly year after year, does not shield people from negative equity, as we discovered to our great pain in 2008 and after. A sustainable housing ‘market’, including stable prices would be more beneficial in that regard, but that would be in conflict with the governments stated aim of never allowing house prices to do anything but rise. Even if this actually means massive ongoing subsidies to the better off including landlords (HAP) and developers (help to buy). We learned virtually nothing from 2008 and that’s what makes this so galling and alarming.
Isn’t that great although. Make sure to vote for the incumbents if you want change.
Time to vote FF/FG out. They’ve had over 100 years to sort this out & they’ve done sweet FA. Talk is cheap. It’s high time for action.
Is this not completely expected in a supply constrained market and evidence that lending limits are working?
The lending limits is now 4x income, if say a couple on whatever wage have seen an average salary increase of 2.5% in the last year which is just a cost of living increase their buying buyer rises 10% therefore houses in their range rise 10%
This is going to be the story until supply meets or exceeds demand, economic activity slows and/or we have stagnation in wage growth