Irish Property Market chat II - *read mod note post #1 before posting*

Rental situation predicted to get much worse.

I'd question the timing of this report also. Limerick is cited as one of the better supplied rental markets. I suspect the survey was done while colleges were closed boosting the numbers. Population nearly doubles when students are back

This would imply the problem is far greater than even this report suggests

Theres not a hope of 615 rentals available in Monaghan

Given the size of the county that would be an enormous amount of available stock. I do question how CSO finds out about "available" rentals

Your theory works if you have secure housing, not so much if your renting

The RPZ's incentivise selling up and buying a fresh home that can be rented at current market rates

The path to ownership is now loaded with taxpayer initiatives through developer grants and waivers on costs and multiple grants for buyers. This deems all new supply as council housing by the back door without the state having any asset and only affordable to a minority. Effectively council housing is only available to the wealthiest.

The economy has evolved to such an extent that your security of housing not your salary is the key determinant of your quality of life. This is the power that the system has passed onto 1 sector in the economy. It has the power to break us and it will

I’m not really sure what this has to do with my post. I do wholeheartedly agree with your comment that your housing situation is more important than your salary in terms of your quality of life though.

All I was saying is. Net wages are up almost 30% in 5 years. If cost of living (excluding housing) had gone up 30%, then peoples remaining income to spend on housing would also go up 30%….in reality cost of living has only gone up 20%….ideally this would improve living standards for people…but for those without permanent housing, their extra income is being soaked by housing costs which have gone up 35-40%.

The maths seems sensible. House price & rent growth since 2018 are predominantly underpinned by increasing salaries and pushed a bit more by a lower cost of living burden (I agree this is a bad thing by the way. Real wage growth should be spent on fun stuff, innovation, or saving…not ploughed into housing which is just a further wealth transfer to the best off)

Houses are expensive, but they are not that expensive.

Single Median income to average house price ratio is approx 7.5

HTB will give you 10% or up to €30k, so that would bring it down to approx 6.8.

Not great, but not terrible, considering other parts of the world.

A dual-income couple on an average salary can easily afford an 'average' house.

The issue is that there are too few houses on average to buy.

I was fairly certain that USA house to income ratio is higher than Ireland are you sure your comparing like with like?

A quick google brought this up