Glenbhoy said:To be honest, the increases haven't impacted us at all yet, and save for a loss of employment the increases will not affect us, additionally, we haven't yet reached the level where renting is cheaper for us (edging closer though).
144 right nowredo said:There are 141 houses for sale now in Lucan. That is a serious buildup of stock. There was around 40 in January.
redo said:144 right now
redo said:144 right now
I would have thought that each rise is proportionally less significant??Since each rise is proportionally more significant it is unlikely that even benchmarking will keep pace with the cuts into your income.
SteelBlue05 said:How many houses in Lucan? 3,000, more? Its hardly surprising that there are some for sale.
What was the average amount for sale in Lucan over the last few months\years?
Howitzer said:That said the prices being asked for these properties is MASSIVELY inflated on what they had been. Roughly 25% on the year to date.
Lucan is a FTB market. My point in pointing out the numbers of houses for sale was highlight the reduction in activity in the FTB market.SteelBlue05 said:Is that just happening in Lucan or in all parts of Dubln, I didnt think Lucan was any different.
SteelBlue05 said:Is that just happening in Lucan or in all parts of Dubln, I didnt think Lucan was any different.
Howitzer said:I think Lucan has somewhat outperformed the market, possibly cos there was relative value still to be had, at the start of the year anyway, certainly not now.
A freind of mine bought a house in Moy Glas in the early days when they were selling to 80K Pounds. The same houses have an asking price if 410K Euros today. Surely this is out of the reach of most FTBsredo said:Lucan is a FTB market. My point in pointing out the numbers of houses for sale was highlight the reduction in activity in the FTB market.
CelloPoint said:Especially when you consider the amount of housing estates, appaling traffic and general lack of facilites.
This is the main point. It is starting to get to the stage were even FTB's cannot afford places like Lucan, for second hand houses anyway. There also seems to be alot of people in that area (Griffeen and Moyglass) selling up due to the new road being built and the projected increase in heavy lorries that will use this new road. Plus, with Adamstown being a "stones throw away", the traffic can only get worse. EA's must have a very good arm if they can throw stones that far. Maybe we should get them to enter the dicus at the next OlympicsBedsit said:A freind of mine bought a house in Moy Glas in the early days when they were selling to 80K Pounds. The same houses have an asking price if 410K Euros today. Surely this is out of the reach of most FTBs
Probably standard for many first time buyers. Say a couple with incomes of 40K and 50K (not unreasonable for most 30yo old couples). Net income of approx. 65k, monthly - 5.25K, repayments on a 30yr 100% mortgage at 4.5% are 2100, this is approx 40% of net incomes, that's supposedly the limit for banks presently, but if they go for a 35yr mortgage then repayments become 1900 and affordability is now 36%. There is not much room for upward movement though, especially as these are supposed to be stress tested at 2% above prevailing interest rates - of course the banks could just continue to change their lending criteria, as is their right in a free market.A freind of mine bought a house in Moy Glas in the early days when they were selling to 80K Pounds. The same houses have an asking price if 410K Euros today. Surely this is out of the reach of most FTBs
Glenbhoy said:I'll accept what you all say re the rises impacting, what i'm trying to get at though is that, the drip/drip approach of rising interest rates by 0.25 is designed to soften the impact. It's like ciggies, if governments wanted people to stop, they'd put very punitive taxes on them each year instead of 20c - it has an impact, but not a decision altering impact.
Glenbhoy said:I would have thought that each rise is proportionally less significant??
If these FTB decide to have kids? One can also include childminding costs cira 700 pm. Alot of them will be in the prediciment that they can't "afford" to have kids, which is a shame.Glenbhoy said:Probably standard for many first time buyers. Say a couple with incomes of 40K and 50K (not unreasonable for most 30yo old couples). Net income of approx. 65k, monthly - 5.25K, repayments on a 30yr 100% mortgage at 4.5% are 2100, this is approx 40% of net incomes, that's supposedly the limit for banks presently, but if they go for a 35yr mortgage then repayments become 1900 and affordability is now 36%. There is not much room for upward movement though, especially as these are supposed to be stress tested at 2% above prevailing interest rates - of course the banks could just continue to change their lending criteria, as is their right in a free market.
Glenbhoy said:Probably standard for many first time buyers. Say a couple with incomes of 40K and 50K (not unreasonable for most 30yo old couples). Net income of approx. 65k, monthly - 5.25K, repayments on a 30yr 100% mortgage at 4.5% are 2100, this is approx 40% of net incomes, that's supposedly the limit for banks presently, but if they go for a 35yr mortgage then repayments become 1900 and affordability is now 36%. There is not much room for upward movement though, especially as these are supposed to be stress tested at 2% above prevailing interest rates - of course the banks could just continue to change their lending criteria, as is their right in a free market.
My research suggests you'd be blessed to get change out of a grand.If these FTB decide to have kids? One can also include childminding costs cira 700 pm. Alot of them will be in the prediciment that they can't "afford" to have kids, which is a shame.
Just stop and think about what you're saying for a moment. A high-earning couple with no kids and no debt apart from the mortgage would be spending 40% of their joint income to live in an undesirable area (IMO) of the capital.Glenbhoy said:Say a couple with incomes of 40K and 50K (not unreasonable for most 30yo old couples). Net income of approx. 65k, monthly - 5.25K, repayments on a 30yr 100% mortgage at 4.5% are 2100, this is approx 40% of net incomes
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?