Property Prices in the 70s and 80s Compared to Now

L1011

Parentalunit wrote: »

I was working in Dublin in the late 80s and remember a 3bd house on Homefarm Road for £31,000. I was one year into my first job and my salary was £11,000 pa, so in a couple of years I could have easily afforded it. Nowadays I'd say it's worth north of €600,000.
Only problem was mortgage interest was much higher than today but it wouldn't have been difficult to rent out a few rooms to help pay the mortgage.

There was taxation on that type of rental income then I'm fairly sure - which made it a lot less lucrative immediately. 58% if on the highest rate in '88!

Rent-a-room scheme came in in 2001 at £6,000 p.a. (and was then abused by banks - the 100% mortgage I never drew down from a predecessor of KBC assumed I would be renting the other two rooms to the then top relief rate - but that's a different story!)

SusieBlue

Cyrus wrote: »

When were the good old days in your opinion ? I’m not much older than you in case you think otherwise

Well my parents were able to buy their first house in the early 90’s on one wage, my dad was a labourer at the time (so not a highly skilled job and he didn’t have higher education) and I was already born at that stage.
That would be pretty much unheard of these days. These days it’s hard for two university graduates to afford rent together, let alone a mortgage.

Princess Calla

SusieBlue wrote: »

Well my parents were able to buy their first house in the early 90’s on one wage, my dad was a labourer at the time (so not a highly skilled job and he didn’t have higher education) and I was already born at that stage.
That would be pretty much unheard of these days. These days it’s hard for two university graduates to afford rent together, let alone a mortgage.

My brother and his girlfriend bought in the 90's too. They were about 23/24 at the time. I remember him saying they had to make sacrifices to afford it....his girlfriend couldn't afford to go to the hairdressers for 6 months!! the hardship that must have been!!!

Cyrus

SusieBlue wrote: »

Well my parents were able to buy their first house in the early 90’s on one wage, my dad was a labourer at the time (so not a highly skilled job and he didn’t have higher education) and I was already born at that stage.
That would be pretty much unheard of these days. These days it’s hard for two university graduates to afford rent together, let alone a mortgage.

Depends on where you are talking about

There are very cheap houses around the country just not in Dublin.

SusieBlue

Cyrus wrote: »

Depends on where you are talking about

There are very cheap houses around the country just not in Dublin.

Really? You think that a manual labourer on a low income with a wife and child dependent on him would be able to easily get a mortgage on his own in the current climate?

Princess Calla

Cyrus wrote: »

Depends on where you are talking about

There are very cheap houses around the country just not in Dublin.

Is there employment to go with these houses or should people accept a 2 hr + commute each way, every day?

Graham

Mod Note

Posts discussing property prices in the 80s/90s moved to this thread.

SusieBlue

Princess Calla wrote: »

Is there employment to go with these houses or should people accept a 2 hr + commute each way, every day?

Exactly. A damp mouldy shack in Leitrim is of no use to someone who needs to be in or near a city/town for work purposes and expecting them to commute 2+ hours a Day is completely unreasonable, I don’t know why it’s thrown out as an off the cuff solution to this massive problem.

It implies that people are being choosy but who on earth wants to spent 3/4 hours sitting in traffic per day? Is that really the price young people should have to pay to have a place of to live? Is that the standard of living we’re aspiring to?

Cyrus

SusieBlue wrote: »

Really? You think that a manual labourer on a low income with a wife and child dependent on him would be able to easily get a mortgage on his own in the current climate?

I don’t think anyone should get a mortgage easily but it depends on how much the manual labourer earns and how predictable that income is

Cyrus

Princess Calla wrote: »

Is there employment to go with these houses or should people accept a 2 hr + commute each way, every day?

I’m not sure what your point is? Someone said a person on low wages can’t afford a house , they can , just not in a city .

Cyrus

SusieBlue wrote: »

Exactly. A damp mouldy shack in Leitrim is of no use to someone who needs to be in or near a city/town for work purposes and expecting them to commute 2+ hours a Day is completely unreasonable, I don’t know why it’s thrown out as an off the cuff solution to this massive problem.

It implies that people are being choosy but who on earth wants to spent 3/4 hours sitting in traffic per day? Is that really the price young people should have to pay to have a place of to live? Is that the standard of living we’re aspiring to?

There are only damp mouldy shacks in Leitrim?

If young people want to own in a city then they need to make sure they follow a career path that will allow them achieve that goal, if not they need to look at the alternatives.

Eric Cartman

Cyrus wrote: »

There are only damp mouldy shacks in Leitrim?

If young people want to own in a city then they need to make sure they follow a career path that will allow them achieve that goal, if not they need to look at the alternatives.

+1 people love the double edged sword , a carpenter working in dublin will make 20% more but the house they want to live in costs 50% more.

Spanish Eyes

I am older and bolder and I totally agree with the fact that is practically impossible to buy on your own these days, not to mind with a partner.

Is it inflation or what.

Anyway I would always advise those with finance/mortgage approved to go second hand now with a BER of D or above if lucky enough.

I have never bought a new build ever, but that's just me. Too much fkn hype and too many kids around. Depends on your time in life though.

aaakev

SusieBlue wrote: »

Well my parents were able to buy their first house in the early 90’s on one wage, my dad was a labourer at the time (so not a highly skilled job and he didn’t have higher education) and I was already born at that stage.
That would be pretty much unheard of these days. These days it’s hard for two university graduates to afford rent together, let alone a mortgage.

Just bought my house this year, 3 kids, one income, wife has been at home since day one with our kids. Renting for years in standard 3 beds, landlord told us in January this year he was selling so it was time for us to make the jump, got a 5 bed with tons of space. So It can still be done!

Eric Cartman

aaakev wrote: »

Just bought my house this year, 3 kids, one income, wife has been at home since day one with our kids. Renting for years in standard 3 beds, landlord told us in January this year he was selling so it was time for us to make the jump, got a 5 bed with tons of space. So It can still be done!

and the nearest city to that house is which city and how many kilometers ?

aaakev

Eric Cartman wrote: »

and the nearest city to that house is which city and how many kilometers ?

Work in Dublin, live in Kildare. 36km house to work. Under 30 minutes in the morning, 45 home. Colleagues who live in Dublin spend more time travelling

Eric Cartman

aaakev wrote: »

Work in Dublin, live in Kildare. 36km house to work. Under 30 minutes in the morning, 45 home

at what time, im 16km from the quays in kildare and if I leave the house at 8 id be lucky to be in dublin 2 by 9.30

aaakev

Eric Cartman wrote: »

at what time, im 16km from the quays in kildare and if I leave the house at 8 id be lucky to be in dublin 2 by 9.30

Leave at 6 and go gym before work so have evenings free with the family

Eric Cartman

aaakev wrote: »

Leave at 6 and go gym before work so have evening free with the family

fair , not going ot try pinpoint it but if the house is around the m7/m9 interchange or beyond the m4 toll then yeah I can see how its quite affordable on one income. Best of luck with it, sounds like you did well by your family.

personally id rather rent forever than ever know what 6am looks like, working till midnight ill do no bother but mornings not a hope.

Princess Calla

Cyrus wrote: »

I’m not sure what your point is? Someone said a person on low wages can’t afford a house , they can , just not in a city .

In principle yes, 4 times a low salary will get you a house somewhere. But then what? Your job is in the city so you have to commute? That's if you even get mortgage approval as an underwriter may not be to willing to take the risk on someone buying a house on their own with a long commute, especially if they are a 100th generation dub suddenly deciding Offaly looks nice!

Solution? Change jobs? There may not be any employment in the new place hence the reason housing is going for a song!

Now remember this conversation started about adult children living at home with their parents.

Now it's pretty common to start a career on a low salary in the city and within a few years almost double your salary. The majority of that type of employment is not available in the country where cheap housing is. So yeah it is a short term pain until the childs career takes off.

aaakev

Eric Cartman wrote: »

fair , not going ot try pinpoint it but if the house is around the m7/m9 interchange or beyond the m4 toll then yeah I can see how its quite affordable on one income. Best of luck with it, sounds like you did well by your family.

personally id rather rent forever than ever know what 6am looks like, working till midnight ill do no bother but mornings not a hope.

Way before the m4 toll, 15 minutes from maynooth exit off n4. Cheers man, appreciate that.


Ah I love the early mornings, had the haircut after the gym this morning and still at my desk for 8.30!

L1011

15 mins in which direction? Well, you don't need to tell us but there are hideous queues to that junction from specific directions for about 8 hours a day these days (2h each side of each rush hour) - and extending. So what's OK now could become really horrible when the ~1000 more units planned for Maynooth turn up

Eric Cartman

L1011 wrote: »

15 mins in which direction? Well, you don't need to tell us but there are hideous queues to that junction from specific directions for about 8 hours a day these days (2h each side of each rush hour) - and extending. So what's OK now could become really horrible when the ~1000 more units planned for Maynooth turn up

Even at 6am i doubt its moyglare road, donadea direction seems most likely but barbarstown roundabout to m4 is a nightmare at 7.30 till 11am during the college year. Ive looked at houses that way myself and have concluded that anything closer to the kilcock exit is less of a commute than anything further than the tlc centre

aaakev

Eric Cartman wrote: »

Even at 6am i doubt its moyglare road, donadea direction seems most likely but barbarstown roundabout to m4 is a nightmare at 7.30 till 11am during the college year. Ive looked at houses that way myself and have concluded that anything closer to the kilcock exit is less of a commute than anything further than the tlc centre

Donadea direction is right. If ever I'm late getting up which does happen the odd time the traffic is bad. I did the N7 from naas to the airport for 9 years before I moved so went through all the N7 upgrades so well used to it. The early mornings I like because it gives me my evenings free. Finish work at 5 and home before 6 so it's all good!

You couldn't pay me to live in Dublin (I'm a dub originally) or even much closer to be honest, if the commute is my sacrifice for living where I want and having the space I have for my family I'd choose it every time. Certainly not for everyone but its exactly what iv always wanted

mariaalice

aaakev wrote: »

Donadea direction is right. If ever I'm late getting up which does happen the odd time the traffic is bad. I did the N7 from naas to the airport for 9 years before I moved so went through all the N7 upgrades so well used to it. The early mornings I like because it gives me my evenings free. Finish work at 5 and home before 6 so it's all good!

You couldn't pay me to live in Dublin (I'm a dub originally) or even much closer to be honest, if the commute is my sacrifice for living where I want and having the space I have for my family I'd choose it every time. Certainly not for everyone but its exactly what iv always wanted

It's not comparing the same thing, the person with the 3 children is going to have different priorities that a single person. I am sure rural Kildare is most likely a great place for families good school, sports, countryside but a single person is likely looking for something else.

aaakev

mariaalice wrote: »

It's not comparing the same thing, the person with the 3 children is going to have different priorities that a single person. I am sure rural Kildare is most likely a great place for families good school, sports, countryside but a single person is likely looking for something else.

I was comparing my own situation to my own alternative situation so in both instances it was a 3 kid family

Eric Cartman

aaakev wrote: »

Donadea direction is right. If ever I'm late getting up which does happen the odd time the traffic is bad. I did the N7 from naas to the airport for 9 years before I moved so went through all the N7 upgrades so well used to it. The early mornings I like because it gives me my evenings free. Finish work at 5 and home before 6 so it's all good!

You couldn't pay me to live in Dublin (I'm a dub originally) or even much closer to be honest, if the commute is my sacrifice for living where I want and having the space I have for my family I'd choose it every time. Certainly not for everyone but its exactly what iv always wanted

Have you been up to roches for a pint yet , a great pub

pwurple

Population 1950 Republic of Ireland: 2.9 Million
Population 2019 republic of Ireland: 4.9 Million


= 2 million more people competing for space on the same island.

meijin

L1011 wrote: »

Just tried to find an ad for how much my house cost new in '72 in the Irish Times archives. Never actually did that before so had no idea what it cost.

http://finfacts.ie/irishfinancenews/article_1012464.shtml

aaakev

Eric Cartman wrote: »

Have you been up to roches for a pint yet , a great pub

Na, stuck a full bar in the back garden instead! Haha