Yes my eyes are on a place in a pretty good area. Certainly not a forever home but a great location which is making me think I should take the risk. Another concern is that there will probably be only one room spare so certainly not enough to cover the mortgage via ‘rent-a-room’ but location is what is swinging it for me. That’s with having little to no knowledge of property I might add.
I’d reckon your main worry is really quite long-term.
My view on housing is that it’ll flatten out over the next ten or more years as many factors collide.
The long term question is whether the multinationals decide at some point to drift away, in which case we are back to emigration, and in truth, it’s hard to see it happening unless a government makes it really unpleasant for them.
The most you’d have to worry about is it dropping in value, but if it’s not your 4eva home, that’s better, as a more expensive place will drop by more.
Borrowing is still historically cheap.
Budget for 4% interest rate and if that’s tolerable, I’d buy in your circumstances PROVIDED it is a place in which you actually want to live.
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If I were you and you can afford the mortgage I’d buy.It’ll be years till they catch up with demand.And if it’s in a good location as you say you shouldn’t have any problems selling it.
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There won’t be enough houses anytime soon which should temper any big fall, prices are mad, but so is rent. Tough call.
You should think in your head you will be stuck in this house for ten years, if you can live with that then go for it.
Or if you think you can rent it for the price of the mortgage (if you weren’t in it) then think of it as a long term investment rather than a house. Forget the value fluctuations
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Buy it.* We bought our first gaff in 2007. Valaution fell massively and still delighted we bought it. Also, it’s way easier to buy a gaff (move) if you already have a gaff. The basic problem is our supply is way below demand so i cant see value dropping away too much but even if it does so does the cost of the next house you want.
*I’ll happily Pologise to you and the board in 10 years if it turns out i was wrong.
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Nail i n the head with long term. See I’m not a million miles from my own homeplace (which is also a draw) and I’ve been away for a few years. I have a relative who I would be close enough to in their elder years so its something I’m also keeping in my mind. But mainly seeing it as a temporary living arrangement with the possibility of it being a long term investment.
Nice outside the box thinking about the multinationals. It’s quite close to a number of multinational companies so must say this should have been something I thought of before approaching the experts of the forum.
Ireland is said to increase its corporation tax. Those multinationals will be packing up in the next year. I’d say youre in trouble.
All of us are fucked then.
Would you ever stop being such a damp squib with your negativity.
Buy the gaff - you can afford the mortgage and you’re not paying somebody else’s mortgage. Demand seriously outstrips supply and this anomaly will continue well into the future. Get onto the ladder and ignore the naysayers.
Good luck with it - nothing beats your own little bit of home.
FAO @Hisenberg
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Factor running costs in as well.
The main risk as I’d see it short term is Sinn Fein going medieval, but I don’t think they will.
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I said fuck all to the man 
Sinn Fein will do as senior civil servants and the EU central bank tell them.
Looking after the elderly relative. No flies on you…
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Just an outside chance there unfortunately
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You’d want to get on to @KinvarasPassion with all haste.
The situation you loosely refer to is mate and drink to him. From tins of chocolate biscuits to bottles of whiskey and by times potéén he has about 15 spinsters/bachelors scrawbing out distant relatives in favour of our hero.
I wouldn’t lower myself to that oul’ shit 
but I respect his enterprise and resilience.
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Supply has increased significantly
Supply in the residential construction sector has improved significantly during 2022. According to the latest data from the Central Statistics Office (CSO), there were 7,654 completions in Q2 2022, which brings the total number of completions to 13,316 units in the first half of 2022. This level of output is nearly 48% higher than the number of completions in the first half of 2021 and 46% higher than total completions in the same period in 2019, prior to the pandemic.
Overall, Dublin accounted for around 37% of all completions in the first half of 2022, the second highest share since 2017 after reaching 39%. Apartment completions accounted for around 31% of all completions during the first half of the year. Dublin continues to have the most apartment completions accounting for about 80% of all completions at the national level.
If the sector continues to build at a rate similar to second half of 2021, it is likely that total completions in 2022 can reach 25,000 units. Our estimate is that more than 50,000 units will be completed between the start of 2022 and the end of 2023.
In terms of future activity, we see that 16,587 units were commenced in the first seven months of 2022 compared with 18,861 units in the same period in 2021. Notwithstanding the decline in commencement activity between the first seven months of 2021 and 2022, there were 28,490 units commenced in the 12 months to July 2022, which is an encouraging sign of activity for future completions.
Economic fundamentals support solid demand for mortgages in the Irish economy with employment reaching a record level in the second quarter of 2022, as well as increases in average incomes. The expected increase in supply levels over the next two years should help to meet this demand and the Irish banking sector has the capacity to provide further sustainable mortgage lending. Housing supply needs to continue to increase in order to moderate house price increases and enhance affordability in the market
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No one wants to hear that.
Moderating house price increases is not at all the same as enhancing (whatever that is) affordability.
Anyone have this sub?