'Market has gone mad in Dublin' Any truth?

Piriz

ted1 wrote: »

2 salaries of 70k+ would be the norm of people I know all in there early thirties all schooled and brought up on the south side of Dublin.

your norm is not the norm!

ted1

Piriz wrote: »

your norm is not the norm!

But it does demonstrate that there are plenty if people out there who can afford houses in the 500k bracket, and it also demonstrates the lure to South Dublin. Which encourages success.

Bigcheeze

ted1 wrote: »

But it does demonstrate that there are plenty if people out there who can afford houses in the 500k bracket, and it also demonstrates the lure to South Dublin. Which encourages success.

And poor grammar.

ted1

Bigcheeze wrote: »

And poor grammar.

Grammar nazis are the biggest joke on the Internet. Make a point or F**k off.

gaius c

ted1 wrote: »

But it does demonstrate that there are plenty if people out there who can afford houses in the 500k bracket, and it also demonstrates the lure to South Dublin. Which encourages success.

Only 5% of all households in the entire country earn that kind of money and if I were in the top 5%, I'd be looking for something a little more plush than a very ordinary house built in somebody's back garden in Goatstown.

My facts trump your anecdote.
Sorry.

Piriz

ted1 wrote: »

But it does demonstrate that there are plenty if people out there who can afford houses in the 500k bracket, and it also demonstrates the lure to South Dublin. Which encourages success.

No, you're demonstrating yourself as an arrogant southsider to be honest...

In the interest of fairness and reality...specific areas in Dublin may be considered as the best by some, but others think that they are full of snobs and would have preference for an area not populated by financial status seeking elitists..

BostonB

I don't get the encourage success comment...But the high market value does indicate desirability. Regardless if you don't like the area. I do know people who sold up from similar properties to move to Co Dublin to a much bigger property in the country side. Only to move back into a smaller place south side, when they realised they preferred being closer to family and friends. So there's a multitude of reasons why you choose to be somewhere.

proponent

gaius c wrote: »

Only 5% of all households in the entire country earn that kind of money and if I were in the top 5%, I'd be looking for something a little more plush than a very ordinary house built in somebody's back garden in Goatstown.

My facts trump your anecdote.
Sorry.

my thoughts precisely

who_ru

=liffeylite;84838412 Ireland has the highest average salary in Europe! and second highest in the world.

on the other hand ireland has probably the highest taxes on income and consumption in any european country.

L1011

who_ru wrote: »

on the other hand ireland has probably the highest taxes on income and consumption in any european country.

Income: not a hope.

Consumption: Possibly.

We also have some of the lowest taxes on property/assets going

batman_oh

ted1 wrote: »

2 salaries of 70k+ would be the norm of people I know all in there early thirties all schooled and brought up on the south side of Dublin.

Amazing!
If this part wasn't added to make a smug point and to feel superior then what was it for exactly?

ted1

batman_oh wrote: »

Amazing!
If this part wasn't added to make a smug point and to feel superior then what was it for exactly?

Its shows the people bought up in South Dublin, want to stay in South Dublin. and that in general people in South Dublin do have money.

Earlier posts have said no one in the coutnry can afford to pay high prices for houses, they have also said the it doesn't matter where you live, and i'm highlighting that those who live in south dublin do seem to have an advantage in those that don't.

gaius c

batman_oh wrote: »

Amazing!
If this part wasn't added to make a smug point and to feel superior then what was it for exactly?

Cop yourself on please. Ted1 "knows" people and this debunks all counter arguments with actual facts & figures.

BostonB

People wanting to stay in their local area is not unique to south dublin. There's poorer areas on the south-side just are there more expensive areas on the north side, or indeed all over the country.

Duggys Housemate

ted1 wrote: »

Its shows the people bought up in South Dublin, want to stay in South Dublin. and that in general people in South Dublin do have money.

Earlier posts have said no one in the coutnry can afford to pay high prices for houses, they have also said the it doesn't matter where you live, and i'm highlighting that those who live in south dublin do seem to have an advantage in those that don't.

YOu are giving anecdotes, not statistics. Even two on 70K would want to be careful about a loan for 550K house - it would leave them with no money in the bank if they had saved 110K and very large repayments - and surely they would hope to do better than that Goatstown property if they did have that.

As for Goatstown, my point was that south side snobbery is not very clear to those of us who are Dubliners by birth. There are plenty of places closer to the city, and nearer to the sea, both north and south of the City. But, good, if "money" wants to go somewhere otherwise mediocre because it had a rep, ir reduces competition elsewhere.

murphaph

My father was from Terenure. I suppose that was more working class originally but I have cousins still in the area and they live with their parents and have no chance of buying locally. I don't buy it that most people in South Dublin "have money" tbh. Certain small parts of the county have people with money, like Foxrock maybe, but most people in the county have average jobs and many are unemployed as already mentioned.

ted1

murphaph wrote: »

My father was from Terenure. I suppose that was more working class originally but I have cousins still in the area and they live with their parents and have no chance of buying locally. I don't buy it that most people in South Dublin "have money" tbh. Certain small parts of the county have people with money, like Foxrock maybe, but most people in the county have average jobs and many are unemployed as already mentioned.

I Lived in terenure, and went to Terenure college. now living out in Killiney.

There would be little people who were in my year earning less then 60K.

Duggys Housemate

ted1 wrote: »

I Lived in terenure, and went to Terenure college. now living out in Killiney.

There would be little people who were in my year earning less then 60K.

And the tall lads are earning more I assume?

ted1

Duggys Housemate wrote: »

And the tall lads are earning more I assume?

no the little guys earn more, they suffer from little man syndrome, and strive to be on top.

Piriz

ted1 wrote: »

I Lived in terenure, and went to Terenure college. now living out in Killiney.

There would be little people who were in my year earning less then 60K.

considering we've been provided with % breakdown of gross earnings earlier in this thread, whats your point?

gaius c

ted1 wrote: »

I Lived in terenure, and went to Terenure college. now living out in Killiney.

There would be little people who were in my year earning less then 60K.

Well that was good money spent on your education in fairness.

BostonB

ted1 wrote: »

no the little guys earn more, they suffer from little man syndrome, and strive to be on top.

Theres been plenty of studies that indicate statistically its the opposite.

D3PO

ted1 wrote: »

I Lived in terenure, and went to Terenure college. now living out in Killiney.

There would be little people who were in my year earning less then 60K.

Im sorry but this is the biggest heap of sh*t ive ever heard.

Firstly I doubt your even in contact with 15 people in your year so have no basis to make that comment.

Secondly of the 23 people I know well enough to know what they are earning that went to Terenure College only 7 of them are earning over 60k. A far cry from the figures you magically claim.

Shedite27

gaius c wrote: »

Only 5% of all households in the entire country earn that kind of money and if I were in the top 5%, I'd be looking for something a little more plush than a very ordinary house built in somebody's back garden in Goatstown.

My facts trump your anecdote.
Sorry.

But you can be in the top 5% and still not be able to afford more than a "a very ordinary house built in somebody's back garden" (which market has clearly dictated is worth 575k.

My realism trumps your idealism
Sorry.

desertcircus

ted1 wrote: »

2 salaries of 70k+ would be the norm of people I know all in there early thirties all schooled and brought up on the south side of Dublin.

If your social circle cosists of investment bankers, then I believe you. I'm in my early thirties and I'm not sure I could name a single couple on those salaries from my peer group. Less than 5% of households have that kind of earning power, and they're wildly skewed towards older rather than younger households.

Duggys Housemate

Shedite27 wrote: »

But you can be in the top 5% and still not be able to afford more than a "a very ordinary house built in somebody's back garden" (which market has clearly dictated is worth 575k.

My realism trumps your idealism
Sorry.

The market hasn't dictated anything. That's an asking price.

proponent

Duggys Housemate wrote: »

The market hasn't dictated anything. That's an asking price.

its not.. the asking price is 485k the current bid is at 577k

http://www.myhome.ie/residential/brochure/27a-drummartin-park-goatstown-dublin-14/2507827

Duggys Housemate

proponent wrote: »

its not.. the asking price is 485k the current bid is at 577k

http://www.myhome.ie/residential/brochure/27a-drummartin-park-goatstown-dublin-14/2507827

according to a guy on the internet, according to his EA . All of the ( asking) prices for similar properties below that property show falls in the area, and all of the sales on the register in the area are about 100-200K lower.

Now they could be different quality properties but.....

techdiver

proponent wrote: »

its not.. the asking price is 485k the current bid is at 577k

http://www.myhome.ie/residential/brochure/27a-drummartin-park-goatstown-dublin-14/2507827

Just because some idiot wants to pay €92,000 over an already inflated asking prices doesn't mean that they have set market price for a specific area.

During the bubble many people did this and have now realised what their properties are "worth".

The Spider

I am fairly bullish about property at the moment, as I do think the bottom was last year, but some of the prices are a bit crazy in SCD but I don't see it changing to be honest, we looked there last year and decided even then that there wasn't real value to be had, so we made the decision to move outside and are very happy with that decision, especially with what we got for the money.

Anyway I'm not from Dublin either is the missus, but in my experience and especially with kids, there are certain areas in Dublin that I would live and they're all on the southside, for the simple reason that they're safe, and the only time you see lads in tracksuits is when they're off to play a rugby match.

The other side of it is when I send kids to school, I want them to meet the right people for later in life, believe me I know how valuable the contacts you make when you're younger can be, I don't want them mixing with lads or girls who are from dodgy families or on the wrong track.

That really leaves me with one option and that's the southside.

Sandymount 17
Sandycove 6
Blackrock 32
Booterstown 6
Cabinteely 10
Ranelagh 18
Rathfarnham 44
Dalkey 14
Carrickmines 11
Churchtown 5
Clonskeagh 12
Donnybrook 7
Dunlaoighre 18
Dundrum 20
Rathgar 13
Rathmines 17
Goatstown 8
Killiney 11
Kilmacud 1
Leopardstown 10
Milltown 2
Stillorgan 11
Templeogue 17
Monkstown 11
Terenure 22

The above is a list of areas that I would consider safe, some more so than others, I've trawled daft and searched for minimum 3 bed houses the above numbers are the availability, so the total is 343, that really isn't that much.

Supply won't increase in these areas, how can it? So you basically have anyone who is earning a decent living in Dublin more than likely chasing these areas, and there's way more than 343 people in the company where I work easily earning over 100k.

There won't be a raft of repos in these areas the people that live there can afford to, except in rare circumstances, so prices will continue to rise.

People with families aren't necessarily looking to live close to the city centre, they're more than likely not going out that much maybe a couple of times a month, if even, more than likely the local pub, than going into town and if they do, they can probably spring for a taxi.

Like I say I'm in commuterville but I certainly understand the appeal of the above areas, (although some are quite boring Stillorgan I'm looking at you).

If you can't buy in those areas (I've probably missed a couple in the list) there are alternatives outside, but will require a drive to work, but if a short commute is your motivation then you will have to look at other areas within Dublin.

Oh forgot to add, that there's a lot of people out there who've got cash, from being in sharesave schemes in work, or being granted shares which allow them to have far larger deposits then they would have if the just saved their cash.