Depressing

McGrath5

I'd say whoever buys the house the OP mentions will easily put a couple of hundred grand into doing it up, no way will they be sitting in it with their miserable electric heaters.

Idbatterim

I'd say whoever buys the house the OP mentions will easily put a couple of hundred grand into doing it up, no way will they be sitting in it with their miserable electric heaters.

a coupel of hundred grand? they arent building several of them from scratch! Even a total gutting job and extension to the rear to a high standard should be brought in for less than 100k and thats not doing or getting it on the cheap, material or labor wise...

AlwaysAnyTime

jon1981 wrote: »

http://www.myhome.ie/residential/brochure/6-brookwood-road-artane-dublin-5/2775915

Last raised price was 400k on myhome. Went sale agreed 2 weeks back.

Do u know much it sale agreed for?
I think the way this is heading, (Dublin prices rising rapidly) people will hold off on selling their house - knowing they can get another 20k-30k by waiting a few months. Further restricting supply.

jon1981

No idea will take a few months before you see it on PPR, we live up the road from it so was on my radar. 4 or 5 houses within a 1-2 min walk from there are on the market for around that price have gone sale agreed also.

jay0109

from the PPR for Ballyroan road over the past 4 years....

30/06/2010 €430,000.00 67 Ballyroan Road, Templeogue, Dublin 16, Dublin
02/03/2011 €416,000.00 8 Ballyroan Road, Templeogue, Dublin 6w, Dublin
02/07/2012 €341,000.00 22 Ballyroan Road, Rathfarnham, Dublin 16, Dublin
13/08/2012 €290,000.00 227 Ballyroan Road, Rathfarnham, Dublin 14, Dublin
24/08/2012 €315,000.00 102 Ballyroan Road, Templeogue, Dublin 16, Dublin
19/12/2012 €301,000.00 169 Ballyroan Road, Rathfarnham, Dublin 16
20/06/2013 €386,000.00 36 Ballyroan Road, Rathfarnham, Dublin 16, Dublin 16
24/06/2013 €380,000.00 83 Ballyroan Road, Templeogue, Dublin 16, Dublin 16

Johnny Jukebox

alias no.9 wrote: »

Purchase price aside, it would be interesting to do a case study on the circumstances and lifestyles of the original buyers and more to the point the sacrifices that had to be made to buy the house in the OP back in the 50s or 60s when it was built compared to the prospective buyers now.

I grew up in the area in the 60s/70s and most were single earner households. Types of jobs were primarily white collar - middle rank civil servants, guards, salesmen type thing. There wasn't much to sacrifice in the first place and my recollection is of hard working people with not many visible signs of wealth.

Mr McBoatface

Just thought I'd add another comment. A poor BER test result is not the end of the world. BER testing is a bit of a joke, all vents and fireplaces are covered and blocked and heat loss then measured. In the real world when the vents are uncovered and the fireplace unblocked heat is going to escape through them so the heat loss measurements of BER are completely useless.

In real world conditions replacing windows and adding new insulation in attics and wall in old houses can make them feel much warmer than newer builds. Add to the fact that many older houses have much better driveways, the roads in the estates are much, much wider, rear garden are bigger, many have room to the side for future extension.... well it all make older houses more attractive to many.

anto9

People stooking the current boom in Dublin ( by buying or making an offer at these silly prices ) deserve the fall they will get up the road in two or three years time .

Alf Veedersane

jobyrne30 wrote: »

Just thought I'd add another comment. A poor BER test result is not the end of the world. BER testing is a bit of a joke, all vents and fireplaces are covered and blocked and heat loss then measured. In the real world when the vents are uncovered and the fireplace unblocked heat is going to escape through them so the heat loss measurements of BER are completely useless.

In real world conditions replacing windows and adding new insulation in attics and wall in old houses can make them feel much warmer than newer builds. Add to the fact that many older houses have much better driveways, the roads in the estates are much, much wider, rear garden are bigger, many have room to the side for future extension.... well it all make older houses more attractive to many.

+1.

Besides, a lot of houses built before 1990 have rubbish attic and wall insulation so €2k would easily see you improve that massively.

Ray Palmer

jobyrne30 wrote: »

Just thought I'd add another comment. A poor BER test result is not the end of the world. BER testing is a bit of a joke, all vents and fireplaces are covered and blocked and heat loss then measured. In the real world when the vents are uncovered and the fireplace unblocked heat is going to escape through them so the heat loss measurements of BER are completely useless.

Except that is not how BER is worked out in any way

Mr McBoatface

Ray Palmer wrote: »

Except that is not how BER is worked out in any way

The vents are blocked for the Air pressure DEAP tests. The point I was making was that BER testing shouldn't be as a major worry. My comments where in response to other comments where people disregarding house because of poor BER results. Light bulbs can be changed, thermostatic radiator valves can be fitted, lagging jackets fitted, windows replaced, insulation placed in the attic and the walls, solar panels added etc. The cost can be controlled and done over time. Many older houses with poor BER rating offer future upgrade and extension possibilities that newer houses just don't have.

Many people myself included will put location above house price, to live near your family and job can save a fortune and the money required to upgrade from a poor BER rating to a decent one is small in comparison.

jmayo

Ray Palmer wrote: »

Hello:p

ahh but you are special and you have your property empire

Ray Palmer wrote: »

I know quite a few and you aren't even close to the type of people making that money.

So then who exactly are making that money ?
It aint tradespeople any more.
You are probably talking about someone in one of the professions (solicitor, doctor, accountant, actuary, etc), someone with their own business that is not basic retail or higher management in public service.
Oh wait maybe someone in the ESB or a prison officer.

Idbatterim wrote: »

Jmayo, while I wish there houses were 4-5 times the "average" wage, I think thats wishful thinking, geographically we are talking about a very small area of the country, where a huge amount want to live and those with money equally as importantly. This situation isnt unique to Ireland... The problem now, is everyone want the "finisher" home, so to put it, the 3 / 4 bed semi D in a good area...

That is not some spectacular house and Ratherfarnham is not Ballsbridge.
I am not epxecting that someone on 30-40k (using 4/5 times wage) should be able to buy it.
But for what it is I am expecting someone on 60-80k (using 4/5 times wage) should be able to buy it.

With the way some would want the market to go, no one bar people on 3 or 4 times the average industrial wage will be able to afford a decent enough home in a decent enough area of the city.

Johnny Jukebox wrote: »

I grew up in the area in the 60s/70s and most were single earner households. Types of jobs were primarily white collar - middle rank civil servants, guards, salesmen type thing. There wasn't much to sacrifice in the first place and my recollection is of hard working people with not many visible signs of wealth.

So if you compared their salaries then to the comparable ones today, there is probably no way most of them would be able to afford it.
They would need to have a partner and one on a good salary as well.

Ray Palmer

jobyrne30 wrote: »

The vents are blocked for the Air pressure DEAP tests.

This is an optional test that isn't required for BER. The vast majority do not do this. It is really only for new builds.

uli84

As stupid as it sounds, I just wish the recession returned, at least I could afford stuff then....

Ray Palmer

jmayo wrote: »

ahh but you are special and you have your property empire

No my salary without any property income.

jmayo wrote: »

So then who exactly are making that money ?
It aint tradespeople any more.
You are probably talking about someone in one of the professions (solicitor, doctor, accountant, actuary, etc), someone with their own business that is not basic retail or higher management in public service.
Oh wait maybe someone in the ESB or a prison officer.

Nope. IT people and people without degrees earn this money. Non business owners and employees also. I would say I know 20 people earning this money without even thinking about it. They don't have fancy cars and huge houses either.

You kind of have to accept your understanding of the world around you is lacking if you can only consider people in a similar situation to yourself.

When both partners working became the norm house prices were always going to rise. Things have changed this is the way of things. Why should it remain acceptable that only one partner should work?

It has changed forever more you can't tell the world around you how it should behave because you want it to. A teacher of mine is school bought a 3 bed semi back in the day. He had no option to buy a 1 bed place for his needs. Now there is an option, all part of the change.

Lombardo86

uli84 wrote: »

As stupid as it sounds, I just wish the recession returned, at least I could afford stuff then....

Ah that's nice for you. Of course, the recession coming back would negatively affect thousands of people. But as long are you're ok then that's fine.

uli84

not saying I wasn't or I wouldn't be affected, yet still, a lot of stuff was way more affordable somehow.
Anyway, nevermind.

lolosaur

Ray Palmer wrote: »

Except that is not how BER is worked out in any way

True.

A lad looks at a picture of your house.
opens up microsoft word.
cuts and pastes a few pre written paragraphs
sends this out to you.
you pay the money.
Most BER certs are issued by people who have never and will never set foot in the house.

you have a 3 bed semi D in ballsbridge? Thats an E cert. bockedy windows and get your chimnet lined. good latd etc...

Theboinkmaster

jmayo wrote: »

But for what it is I am expecting someone on 60-80k (using 4/5 times wage) should be able to buy it.

Completely agree, many would consider €80k a good single salary however on that money i don't know how you'd afford this house, you'd be nowhere near it.

Being able to buy this €0.5m average house in D14 with another €100k to put into it, would be people on individual salaries of €150k+ but I would think people with those earnings would be looking at places like Foxrock, Rathgar etc. not Rathfarnham.

Theboinkmaster

Ray Palmer wrote: »

I would say I know 20 people earning this money without even thinking about it. They don't have fancy cars and huge houses either.

You kind of have to accept your understanding of the world around you is lacking if you can only consider people in a similar situation to yourself.

To be fair now those earning 100k+ individually would only be top c5% of population, sure it's on the web somewhere.

Wouldn't expect top 5% of earners to be living in Rathfarnham....

Bray Header

Theboinkmaster wrote: »

I can easily afford this house.

It's just depressing what half a million buys you in some parts of Dublin at present - no value at all and cash-driven inflated prices IMO.

Well if you have so much money, then what's the big deal? Buy the house and refurb it. Or don't buy it. You have money, which means options, you're in a strong position OP

And if you've so much money and you're depressed, then obviously money doesn't buy happiness eh?

Ray Palmer

Theboinkmaster wrote: »

To be fair now those earning 100k+ individually would only be top c5% of population, sure it's on the web somewhere.

Wouldn't expect top 5% of earners to be living in Rathfarnham....

It would be 10% of the population but not 10% of the population in Dublin. It would be higher in Dublin.

The assumption is people take out a full mortgage without any other money. That is the flaw in the theory.

You could have €200k from another property and earn 60k each for example

El_Dangeroso

Ray Palmer wrote: »

No my salary without any property income.


Nope. IT people and people without degrees earn this money. Non business owners and employees also. I would say I know 20 people earning this money without even thinking about it. They don't have fancy cars and huge houses either.

Are you actually saying with a straight face 100K is not an exceptional salary that is only reserved for a small minority?

Gonna need a citation for that..

jon1981

Lads let's get real, a salary of 150k is still not a salary that can comfortably put you in Rathgar/Ranelagh...etc. a 500k mortgage is still about 2.5k a month in mortgage repayment assuming 10% deposit which is near 40% of your income after tax...

income alone is not what's enabling people to buy in these areas.

Ray Palmer

El_Dangeroso wrote: »

Are you actually saying with a straight face 100K is not an exceptional salary that is only reserved for a small minority?

Gonna need a citation for that..

It isn't as exceptional as people think is the point. It doesn't mean a lavish lifestyle either. I know it is good but people don't get it isn't like I get to keep it. I don't end up with twice as much as somebody on €50k for example.

Theboinkmaster

Bray Header wrote: »

Well if you have so much money, then what's the big deal? Buy the house and refurb it. Or don't buy it. You have money, which means options, you're in a strong position OP

And if you've so much money and you're depressed, then obviously money doesn't buy happiness eh?

I never suggested I have loads of money or am depressed so you can keep your snide remarks to yourself.

I can easily afford the house but wouldn't buy it as I don't believe it represents value for money. What half a million currently buys you in scd is depressing IMO.

Theboinkmaster

Ray Palmer wrote: »

It isn't as exceptional as people think is the point. It doesn't mean a lavish lifestyle either. I know it is good but people don't get it isn't like I get to keep it. I don't end up with twice as much as somebody on €50k for example.

What percentage on individuals are on 100k plus do you have recent CSO stats? Don't think it's as high as 10% more like 5%...

Montroseee

jon1981 wrote: »

Lads let's get real, a salary of 150k is still not a salary that can comfortably put you in Rathgar/Ranelagh...etc. a 500k mortgage is still about 2.5k a month in mortgage repayment assuming 10% deposit which is near 40% of your income after tax...

income alone is not what's enabling people to buy in these areas.

Inheritance accounts for some of these large purchases, I'm sure we all some anecdotal evidence of people inheriting serious sums, I know several that have been set up for life before they even turn 35. Also, people forget that during the boom for every person that bought a house at Celtic Tiger prices, there were people receiving seven figure sums for ordinary enough houses. Some people got lucky, in the right situation at the right time and absolutely creamed it.

Frank Lee Midere

Ray Palmer wrote: »

It would be 10% of the population but not 10% of the population in Dublin. It would be higher in Dublin.

The assumption is people take out a full mortgage without any other money. That is the flaw in the theory.

You could have €200k from another property and earn 60k each for example

The percentage in Dublin is irrelevant because this house is bring compared to houses anywhere in Ireland.

If the market were allowed to correct that house would be worth 200k. After bankrupting a country on insane property price increases the same Gombeen class is at it again. One year after we come out of a recession, 25% of mortgages in arrears and the insanity starts again.

This country deserves to go down the ****ter.

Montroseee

Frank Lee Midere wrote: »

The percentage in Dublin is irrelevant because this house is bring compared to houses anywhere in Ireland.

If the market were allowed to correct that house would be worth 200k. After bankrupting a country on insane property price increases the same Gombeen class is at it again. One year after we come out of a recession, 25% of mortgages in arrears and the insanity starts again.

This country deserves to go down the ****ter.

They are the Celtic Tiger mortgages though, I'd wager that very few relatively new mortgages are in arrears as you need large deposits and much higher incomes to get the same amount as back in 06.