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yelims

Latest Daft.ie Report, No Bottom In Sight

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and in meantime the housepricecrash continues in full swing here in Ireland :lol:

loads of graphs on the report linked on above page

the asking prices fell another 4.2% in last quarter

in case you are wondering about the ASKING PRICE bit, there is no selling price database/registry on this island, so daft report is about as good indicator as there is, tho Revenue do have records of all transactions... selling prices are up 20% below asking ones...

2010-Q2-sale-snapshot.png

2010-Q2-sale-asking.png

2010-Q2-sale-stock-flow.png

Edited by yelims

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The riots last night in Belfast are not going to help investment and house prices IMO. I can see some terraced properties returning to around £17K each.

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What's the average (median?) wage in Ireland?

Peter.

unemployment rate here

latest detailed labour report here

if your in IT/pharma and public sector :rolleyes: and welfare things are not too bad at all now, deflation made cost of much living cheaper

if your are in construction and hospitality or anything related then your are screwed due to overbuilding and oversupply, and may as well leave after constructing your own grave

edit: to answer your question average full time salary is 36-37K thats about 28-30K after direct taxes depending on your tax credits, there are plenty of indirect taxes then

Edited by yelims

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Problem is the euro has risen by 30%, they have had a property crash of 40%, which means that only gone down 10% when you value in £s, to make matters worse salaries have risen by 30% in £s, which makes Ireland less competitive, and forces employers to cut wages. Irish property is STILL alot more expensive than uk property

http://www.payscale..../Salary/by_City

http://www.payscale..../Salary/by_City

Median Salaries in ireland are now a chunk higher than the uk because of the rising euro (payscale is a global salary survey website)

Edited by AteMoose

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edit: to answer your question average full time salary is 36-37K thats about 28-30K after direct taxes depending on your tax credits, there are plenty of indirect taxes then

So, in most places, even a 1-bed is still at 3 times salary at the least,

Peter.

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to be honest

Dublin is a shithole and anyone who buys there deservers to live in one, then again most people are tied to it due to it being the main employment center

like UK the once you go outside the capital the market is very different, with land prices collapsing by 90% in some cases

So, in most places, even a 1-bed is still at 3 times salary at the least,

yep

alot done more to do :lol:

tho i did buy/build my home at about 3-4 my salary few months ago

and as mentioned in OP these are asking prices, alot of room for bargaining in a market that's greatly oversupplied

Edited by yelims

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I hope the crash continues in Ireland to give it a chance to crawl out of the disaster created by the developers and banks. Too many young people are emigrating again. Cheaper house prices can only be good for the economy.

Unfortunately, since the crooks in Fianna Fáil set up NAMA to socialise the bankers' and developers' losses, a continuing crash just means that the taxpayer gets shat upon to take the losses.

Cheaper houses aren't going to be a lot of use if the country as a whole is in poverty and taxes are sky high. A situation not dissimilar to what existed in the 80s and early 90s in Ireland.

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unemployment rate here

latest detailed labour report here

if your in IT/pharma and public sector :rolleyes: and welfare things are not too bad at all now, deflation made cost of much living cheaper

if your are in construction and hospitality or anything related then your are screwed due to overbuilding and oversupply, and may as well leave after constructing your own grave

edit: to answer your question average full time salary is 36-37K thats about 28-30K after direct taxes depending on your tax credits, there are plenty of indirect taxes then

That 36-37K is in Euros?

How would things be looking in Ireland now without ECB assistance?

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The riots last night in Belfast are not going to help investment and house prices IMO. I can see some terraced properties returning to around £17K each.

In the early 90s you could get 2-up, 2-down terraces in some areas off the Upper Ormeau (behind the bakery) for £10-15k a piece. They were nearing 200k in Summer 2007 just before the bubble burst.

I lived in a 3-story end-terrace in a nearby street at the time which the landlord had just purchased for the princely sum of £33k. Would have been worth around >300k at the peak.

As ever, it was the marginal areas that saw the greatest increase in value as spots where previously no-one would have bought suddenly seemed like good prospects as the market was going up and they were 'affordable' ... driving prices higher and making them look like even better performers which of course attracted more 'investors' ad infinitum.

Now we're seeing the reverse effect and people who paid top dollar for such properties are left holding very expensive white elephants.

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That 36-37K is in Euros?

yes sorry its in euro, see the linked cso doc for detailed breakdown

How would things be looking in Ireland now without ECB assistance?

what ECB assistance :huh:

your confusing Ireland with Greece

Edited by yelims

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Unfortunately, since the crooks in Fianna Fáil set up NAMA to socialise the bankers' and developers' losses, a continuing crash just means that the taxpayer gets shat upon to take the losses.

Cheaper houses aren't going to be a lot of use if the country as a whole is in poverty and taxes are sky high. A situation not dissimilar to what existed in the 80s and early 90s in Ireland.

I seem to recall that back in the 80's between Tax and PRSI I was losing something like 80% of my salary.

If Fianna/F had left me with any money, back then I could have bought a very nice 3 storey over basement in Sandymount for 50K .

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yes sorry its in euro, see the linked cso doc for detailed breakdown

what ECB assistance :huh:

your confusing Ireland with Greece

The ECB is so opaque.

So are you saying that the ECB hasnt lent money to Irish banks against bad collateral at below market rates of interest?

Nor has it purchased Irish government bonds?

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The ECB is so opaque.

So are you saying that the ECB hasnt lent money to Irish banks against bad collateral at below market rates of interest?

Nor has it purchased Irish government bonds?

Not that im aware of now

most of the money to save the banks came from the Irish taxpayer :blink: or money borrowed in the taxpayers name (but not bought by ECB)

aint the ECB emergency fund only a month old anyways?

since this whole thing started from day one i argued that the banks should have been allowed to fail, especially that black hole called Anglo Irish which wasnt even a normal bank, forcing the hand of ECB to step in (as we now know with Greece i was right)

sigh instead we endup with the most expensive bank bailout in the world per capita :o

as someone mentioned earlier we could very well endup in an another 80s style hole now thanks to the Fianna Fail and Green crooks

btw the whole ECB will pay for NAMA was another Fianna Fail lie ;)

Edited by yelims

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Guest Steve Cook

The riots last night in Belfast are not going to help investment and house prices IMO. I can see some terraced properties returning to around £17K each.

yep. We need a few of those over this side of the water

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I seem to recall that back in the 80's between Tax and PRSI I was losing something like 80% of my salary.

If Fianna/F had left me with any money, back then I could have bought a very nice 3 storey over basement in Sandymount for 50K .

They say you get the politicians you deserve and the Irish electorate is now paying the full price for decades of unquestioningly voting the Gombeen Men and Cute Hoors of FF into power (with the occasional equally gormless and crooked FG interlude).

I can think of nowhere else in Western Europe where outright crookedness in politicians is so tolerated, nay celebrated, by the electorate. As long as you secure a few crumbs of government cheese for the locality, your local electorate will happily praise your cleverness at screwing over the system for your own benefit (which it seems to escape their notice they end up paying the price for through their taxes).

Until the latter part of the 90s, Irish house prices were quite reasonable. They saw a jump in the second half of the decade thanks to economic progress through high levels of foreign investment (the real period of the Celtic tiger) but that was fair enough as it was on the back of much better levels of prosperity for the country. Then came the disasters of too-low interest rates that accompanied the Euro and a house price inflation bubble that made the UKs look almost measured and sensible. After that, the Celtic Tiger became all about building houses as cheaply and quickly as possible and selling them to each other.

Given how 'persuadable' politicians of all levels (local council to government ministers) were with a bit of cash and how particularly greedy and stupid the Irish bankster fraternity was, wasting vast amounts of capital building new properties was never as easy as in Ireland. And not to worry - a nice taxpayer funded bailout at the end plunging the entire state into penury.

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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