Nice Gaff - Id say this would have been asking about the 600k mark a couple of years back - another 12 to 18 months and it may be affordable(ish) ie in the 350k range - personally Id say its worth about that on the basis of an average couple’s join income times 4 equalling cerca 320K.
I don’t agree with valuing a house based on joint income either.
A bog standard 3-bed semi-d should be affordable to a family with a single earner on roughly national ave wage, as it was before the bubble. This house is a bit better than that so I’d say realistic value = >200k
Well fair enough so - I stand corrected - although I would guess that average wage across the whole economy would be higher than the average industrial wage.
On that basis I would revise my figure downwards so. However, I dont see the joint income valuation disappearing anytime soon. It would take a seismic shift in attitudes for that to happen and IMO, could only occur if a new generation comes along that refuses to buy into the working couple model. Its too ingrained in the current generation for us to abandon it. Its viewed as a mark of progress by most and is a sign of how far we’ve progressed since the dark days of the past when one average wage could afford to pay for one average house.
The only way we’ll get back is if the “Totally Pureist Communism Party of Ireland” wins the next election with a majority government. However recent bitching at events is so typically irish in nature. Very few complained when property lifted everyones (preceived) wealth and they all bought buy-to-let properties. We all had more cash in our pockets. And inflation crept up quietly in the background. And a few developers became really wealthy. We are a nation of begrudgers.
You all heard the one about the American and Irish guy walking down Beverly Hills when they see a guy drive out of a huge house in a Ferrari. The American guy says “one day I’m gonna be that guy”. The irish guy says “one day I’m gonna get that guy”
Speak for yourself in relation to that remark, is it not right that in seeing something wrong you speak out about it? Or would you have us all bow our heads and accept whatever comes our way. I for one would be the first to shake someones hand for doing well but not at the expense of other people. Sure some developers did very well but a lot of first time buyers will spend the next 40 yrs paying for that, do you call that begrudgery?
Only 21.58% earn over 35.4k a year.(before tax credits are applied)
It just astounds me how people pluck figures out of the air to get average wage stats for the country and for the regions without providing valid data!!
(hint: average wage stats for all sectors are NOT available for any region or on the national scale bar the CSO IND wage which itself only affects a minority of the workforce)
We do not know much about the entire private sector wages other than reports on various sectors within but no true average or more importantly MEAN has been released of the entire workforce hence my annoyance at figures like 38k mentioned without any backup to prove it .!
Ok, why would you guess it?
What about the low earners, all 78%+ of them across all sectors who earn under 35.4k, for example…the armies in retail.