Ireland has seen a hit take place in recent years as property market seems to be downsizing. Families, with two full-time working partners, are finding it difficult to afford houses at their current increasing costs.
It has even been reported by Mark Keenan, a writer for business property and mortgages that working families are struggling to rent as well.
The average working couple in Ireland is earning a combined income of 70,000 euros. This is far below what a couple needs to earn to afford a home today.
It is reported that the average home in Dublin is now priced at mid 400,000 levels. Much more than what the average working couple could afford.
In just the last three months, there has been a multiple week increase to sell a home in Dublin. The housing market is slowing down and it’s slowing down fast.
Why is it that homes are being put on the market for such high prices? It could be that those selling the homes are finding it hard to sell for less …