With all the hype about interest rate lets not forget this!
However, in the here and now we have a glut in the prime house buying 25-30 age cohort, or the Pope’s Children as one fella calls them. The natural demand is there but maybe not at the prices currently on offer!
Ireland has a big problem with demographics.
These are the FTBs that are currently trying to get on the market and for whom developers are building rows and rows of developments.
The issue as you can see is that there are less 22 to 26 years olds, and less 17 to 21 year olds and then even less 12 to 16 year olds.
The means that kids who are 10 years old today will have a huge choice of starter homes to choose from in 10 to 15 years time.
From what I can see this means it will be very hard for current FTBs to trade up in 5 years time as there will be way more sellers than buyers, and this will only compound as time goes on. This isn’t even counting the current empties!
OK - so we clearly need everyone to start having 25 year old babies to support the property market
So we are screwed either way.
Send Bertie an email - he’ll probably introduce a tax relief to incentivise it!!!
And it’s probably not the craziest idea he’s considering…