107K is quite a decent income for two people, yet they can’t even buy a home.
“A sample garda and nurse with 10 years of service on a combined income of €107,000 could only afford to buy in one out of five counties analysed by Ireland’s estate agents and chartered surveyors.”
It’s not good for society if Garda, nurses or teachers can’t aspire to own their own modest home but it’s a total joke if 2 of these married to each other still can’t afford it!
Not sure I understand this article.
If only we had 107k.
We just bought an apartment in Dublin. Combined income is 65k. Wife is stay at home mother so only works part time.
A bit misleading how you phrased it – a bit clickbaity
*of 5 counties included in the study couples earning a combined annual income of 107K borrowing 3.5 x their income could only afford 3 bed-semi detatched new builds in 1 county (Meath)
The report didn’t look at the 2nd hand market or homes with less beds.
The results of the study however do highlight the growing inaffordability of housing.
It also highlights the weakness of the “build our way out of the housing crisis mantra”
– if new builds are so unaffordable to first time buyers they’re going to be locked in the 2nd home market and there’s no real way to increase the supply of 2nd hand homes.
Homes not affordable if you don’t have savings, got it
They looked at 5 counties; Wicklow, Meath, Kildare, Cork and Galway. The only place this hypothetical couple could buy a 3-bed with a 10% deposit was Meath.
In London, they have London weighting, which is extra money on top of your salary because the cost of living is significantly more than the rest of the UK. Maybe something they should for cities Dublin, even Cork and Galway.
Don’t worry, gang FFFG are on the case 👍, just keep voting for them and the house prices will surely drop 🙄
[deleted]
House prices in the south are literally insane
Sinn Feins plan is to remove all the supports for first time buyers, they say that will make them more affordable. I can see why younger people feel they have no future here.
Bank says I can afford to pay 1000 pm mortgage so I’m going back to pay 2000 pm rent
Bought a house recently Ina salary of 38k on my own , do t know where they get this idea from .
Think they mean new a rated homes
I call bullshit.
€107k annual salary would get them a mortgage of €428k assuming no other debts that would reduce lending capacity. Deposit of 10% gives them a buying capacity of €470k before any schemes are included.
Based on a quick search on Daft, this hypothetical couple can afford a 3 bedroom new build in 5 out of 5 counties mentioned.
Sorry but this is horse shit, that would give a mortgage of 450k with deposit, you can definitely buy a place in Dublin for this.
The article is only referring to new homes, which are the best quality build you can buy. It’s not surprising they’re in demand and only top earners can afford them.
There are so many 2-bed apartments in Dublin for about 350k in not bad areas. With 4 times the salary, the bank could lend the couple 428k.
Why does a young couple need immediately a 3-bed house? 2/3-bed apartments also exist. 2-bed houses also exist. The couple can buy a 2-bed or an apartment and upgrade in a few years after they save some more money. Why does everyone have to live in a 3-bed house when young? Nowhere in Europe can a young couple buy a 3-bed house for an average salary, it’s normal to start small and upgrade later.
Misleading headline. The article is only about buying new builds, which many up the minority of homes. >90% of people will be buying used homes, which are more affordable
Basically a single person is fucked then unless on 6 figures which is very few
Mandatory disclaimer: I agree housing is an issue.
But is it really the opinion of everyone that every person should be able to afford to buy a house without any years of savings first?
Are we allowed to talk about immigration yet?
Theres a much bigger issue here and thats people are not having kids. This will a big big issues in 40 years time when there not enough pension money to go around.
I reckon that why they have imported so many people
20 comments
At what stage is enough enough?
107K is quite a decent income for two people, yet they can’t even buy a home.
“A sample garda and nurse with 10 years of service on a combined income of €107,000 could only afford to buy in one out of five counties analysed by Ireland’s estate agents and chartered surveyors.”
It’s not good for society if Garda, nurses or teachers can’t aspire to own their own modest home but it’s a total joke if 2 of these married to each other still can’t afford it!
Not sure I understand this article.
If only we had 107k.
We just bought an apartment in Dublin. Combined income is 65k. Wife is stay at home mother so only works part time.
A bit misleading how you phrased it – a bit clickbaity
*of 5 counties included in the study couples earning a combined annual income of 107K borrowing 3.5 x their income could only afford 3 bed-semi detatched new builds in 1 county (Meath)
The report didn’t look at the 2nd hand market or homes with less beds.
The results of the study however do highlight the growing inaffordability of housing.
It also highlights the weakness of the “build our way out of the housing crisis mantra”
– if new builds are so unaffordable to first time buyers they’re going to be locked in the 2nd home market and there’s no real way to increase the supply of 2nd hand homes.
Homes not affordable if you don’t have savings, got it
They looked at 5 counties; Wicklow, Meath, Kildare, Cork and Galway. The only place this hypothetical couple could buy a 3-bed with a 10% deposit was Meath.
In London, they have London weighting, which is extra money on top of your salary because the cost of living is significantly more than the rest of the UK. Maybe something they should for cities Dublin, even Cork and Galway.
Don’t worry, gang FFFG are on the case 👍, just keep voting for them and the house prices will surely drop 🙄
[deleted]
House prices in the south are literally insane
Sinn Feins plan is to remove all the supports for first time buyers, they say that will make them more affordable. I can see why younger people feel they have no future here.
Bank says I can afford to pay 1000 pm mortgage so I’m going back to pay 2000 pm rent
Bought a house recently Ina salary of 38k on my own , do t know where they get this idea from .
Think they mean new a rated homes
I call bullshit.
€107k annual salary would get them a mortgage of €428k assuming no other debts that would reduce lending capacity. Deposit of 10% gives them a buying capacity of €470k before any schemes are included.
Based on a quick search on Daft, this hypothetical couple can afford a 3 bedroom new build in 5 out of 5 counties mentioned.
[https://www.daft.ie/new-homes-for-sale/kildare](https://www.daft.ie/new-homes-for-sale/kildare)
[https://www.daft.ie/new-homes-for-sale/meath](https://www.daft.ie/new-homes-for-sale/meath)
[https://www.daft.ie/new-homes-for-sale/cork](https://www.daft.ie/new-homes-for-sale/cork)
[https://www.daft.ie/new-homes-for-sale/galway](https://www.daft.ie/new-homes-for-sale/galway)
[https://www.daft.ie/new-homes-for-sale/wicklow](https://www.daft.ie/new-homes-for-sale/wicklow)
Sorry but this is horse shit, that would give a mortgage of 450k with deposit, you can definitely buy a place in Dublin for this.
The article is only referring to new homes, which are the best quality build you can buy. It’s not surprising they’re in demand and only top earners can afford them.
There are so many 2-bed apartments in Dublin for about 350k in not bad areas. With 4 times the salary, the bank could lend the couple 428k.
Why does a young couple need immediately a 3-bed house? 2/3-bed apartments also exist. 2-bed houses also exist. The couple can buy a 2-bed or an apartment and upgrade in a few years after they save some more money. Why does everyone have to live in a 3-bed house when young? Nowhere in Europe can a young couple buy a 3-bed house for an average salary, it’s normal to start small and upgrade later.
Misleading headline. The article is only about buying new builds, which many up the minority of homes. >90% of people will be buying used homes, which are more affordable
Basically a single person is fucked then unless on 6 figures which is very few
Mandatory disclaimer: I agree housing is an issue.
But is it really the opinion of everyone that every person should be able to afford to buy a house without any years of savings first?
Are we allowed to talk about immigration yet?
Theres a much bigger issue here and thats people are not having kids. This will a big big issues in 40 years time when there not enough pension money to go around.
I reckon that why they have imported so many people