Should I keep renting or take plunge and buy? - Indo

A surprisingly balanced piece for an EA writing in the Indo! A sign of the times we live in?

The elephant in the room is that he doesn’t mention that prices are still dropping at no less than 1% per month. On an average Dublin house that’s €2,400 pm at the very least.

Did Eoghan and Anne Harris ever sell their house? If not, I’m surprised the Indo didn’t advise their correspondant to buy that specific house.

Dropping rent = less demand.

I hope this person isn’t let near fire, they might get confused and think that fire cools rather than burns.

I can kinda agree with what he’s saying though. I ventured into the rental market again this summer & was confused by what I saw.

On the one hand there was plenty of room for haggling with the LLs; but despite the raw numbers of properties available seems huge, the reality is that a large number of them I wouldn’t kennel a dog in; & these were the ones with the most room to haggle. On the decent ones, the prices were more robust, simply because the were shifting much faster so the LL didn’t need to negotiate.

Prices were trending down because most of the available stock is shite & these guys are willing to haggle to not have voids; but if your property is decent you’ll let it quicker & have to take less of a cut in rent, because there is a shortage of decent properties & people who want one will pay a bit more to avoid the hassle.

Very confusing but those were my experiences. :confused:

Shoukldnt this thread be called

Should i keep renting or jump off the Cliffs of Moher?

Eh? What’s uncertain about it?

90% fall from peak or only 80% :angry:

It’s certainly fooked.

I’m not so sure of this. Assuming their wages have stayed the same I would have thought that their mortgage approval amount would have tracked price falls.

Or do price falls in fact track mortgage approval amounts in this country? Hmmm.

I think mortgage approval amounts reflect the banks’ recently rediscovered prudence. I applied for a mortgage eighteen months ago but (luckily) didn’t buy anything. Last month I reapplied and was approved. However, despite my income having risen slightly, the amount was half what it had been previously.