Daft.ie Q1 2010 - Asking prices fall by 3.4%

Looking at the revenue breakdown for 2006 (still the most recent available) there were 82,718 incomes being taxed 100k or above out of a workforce of 2,208,100 taxable incomes. So 3.75% of earners.

Are we supposed to believe this number has gone up? In addition this income bracket is the most heavily taxed so after tax income would have taken the largest hit.

And that, I believe, is figures for taxable units, so in some cases it includes husband and wife (where they are jointly assessed). In which case the number of individual earners earning more than 100k is lower.

There you go, ruining a perfectly good theory with indisputable facts.

I hope you’re proud of yourself.

Yep it’s single + married (one earning) + married (both earning) + widowers. It’s the absolute maximum figure for what could be said to be some sort of 6 figure earning household.

I don’t think I’ll go building any luxury apartments for that demographic just yet.

Aha! Now I know you are not Sean Dunne… one down, four and a half million to go…

Indeed it is.

I’m sure every county can throw up some strange cases, but Wicklow has completely lost the plot.

Here’s a comparison.

Exhibit A. A rural 2 bed on a good site for 95k. This property is on the open market to anyone who wants it. Sure, it needs another 100k to make it nice, but it has eh, …potential.
https://mediacache-s3eu.daft.ie/slxPaJRNTFG89otvTgEEoca1JcrL7n_4utMvK8K4J2NtPWRhZnQmZT00MDB4MzAw.jpg

Exhibit B. A ‘site’ being sold subject to planning for 90k across the road from Exhibit A. This ‘site’ would only be suitable for someone who had an eligibility for planning, and as such is not on the open market. How in the name of God can this bit of land be worth more than it’s agricultural value when the demand for it is almost completely non-existant? Wicklow landowners are going to discover that restrictive planning regulations are a knife that cuts both ways.
https://images.myhome.ie/pictures/properties/residential/2/1/9/409912/IMG_1471_m.JPG?v=1

So, Median Salary in Dub is nearly 40k - 2 professional people = 80k = mortgage of 400k.
There are a lot of these people I reckon. I know a lot of people like this (not me unfortunately… yet).
Only thing is they probably already own a property, like most of my friends.

I’d love to see a breakdown of the income of current FTBs in Dublin

Aye, but you’d need to buy next door too, or else donate them some paint to make it look better :laughing:

Where are you getting 4x joint income as a guideline from?

A married individual on 40k takes home €2,813 a month. A 360k mortgage for 30 years at 4% (pretty optimistic) requires €1700 a month. That’s 60% of one of their incomes just to keep a roof over their head - when is this couple supposed to have children?

Interest rates at 7% would occupy almost 100% of one of their incomes.

Are we not due a Daft rental report? We got figures for the increase in January by Feb 16, yet it’s now April 8 and no sign of a February figure or beyond.

It says in the report the rental one won’t be out till May.

It’s a very odd situation - the 2009 Q4 report contains the highly publicised “January increase!” figure and then the next one gets delayed.

Ah, the transparency!

No conspiracy, unfortunately - if you look back over time, we each report quarterly and have the house price report and rental reports equidistant, so to speak, so the next rental report will be mid-May, just as last rental report was mid-Feb and the one after that will be mid-August.

Chill lads. It’s only asking prices.

Fair enough! I see last year’s Q1 report was in May as well.

the grass is greener in exibit B :smiling_imp:

From Dept of Environment…site
environ.ie/en/Publications/S … tatistics/

Incomes for FTBs in 2008
<€40k = 1%
€40k-€50k = 6%
€50k-€60k = 16%
€60k-€70k = 21%
€70k-€80k = 19%

€80k = 38%

Incomes for non-FTBs in 2008
<€40k = 1%
€40k-€50k = 3%
€50k-€60k = 7%
€60k-€70k = 8%
€70k-€80k = 9%

€80k = 73%

Incomes for all buyers in 2008
<€40k = 1%
€40k-€50k = 4%
€50k-€60k = 10%
€60k-€70k = 13%
€70k-€80k = 13%

€80k = 60%

These are based on incomes of borrowers in Dublin area and doesn’t distinguish between single borrowers or couples.

In 2006 only 53% of buyers earned over €80k compared with 60% in 2008 so I’d consider it possible that the number of people/couples earning over 100k also increased.

How are you going from “numbers of buyers earning” to “number of people earning”?

I assumed that the buyers were people :confused:
Then I assumed that if the number of people (whether single or a couple) earning over 80k increased that there was a chance that the number of people (whether single or a couple) earning over €100k also increased

How do you know the number increased? You know the proportion increased but I don’t see any absolute numbers in the Dept of Environment report.

You’re going through leaps of logic to justify your conclusion - the proportion of buyers earning over 80k increased between 2006 and 2008 ergo the number of earners over 80k increased ergo the number of earners over 100k increased.