Grace Scott (top) in an original ‘crying chair’
Staying in Tonight?
At 9.35pm on RTÉ One.
Our Lives in Property: Oxmantown Road.
A documentary about the property market as experienced by residents of Oxmantown Road in Stoneybatter, Dublin 7.
Gareth Naughton, of RTE, writes:
This is a street where five years ago you could buy a house for €140,000 but where prices now regularly top out at or around €400,000. At the height of the boom in 2006, asking prices rose as high as €423,000
The first house offered for sale on Oxmantown Road sold in 1961 for £800 – about twice the average industrial wage. To buy a home on the street now requires almost ten times the average industrial wage.
For renters, the situation is just as bad with average rents rising from €950 monthly in 2010 to around €1,700 a month this year.
The documentary hears from people from all walks of life including Grace Scott (92) who has been living on Oxmantown Road as a renter for 88 years.
Above she talks about missing out on a bargain as her mother, and subsequently herself, chose not to buy their home even as they saw prices rise.
Related: I called it a ‘fixer-upper’ when I knew it was a ‘falling-downer’ (Conor Pope, The Irish Times)
I’ve been looking around that area, the price on one particular property went up €35,000 in the space of 8 weeks. It was put up on daft and taken down after 6 weeks and put back up 2 weeks later for €35,000 more.
Not to worry , a Soft Landing has been predicted
https://www.irishtimes.com/business/economy/irish-house-prices-are-heading-for-soft-landing-s-p-1.3616705
What happened the last time there was a soft landing predicted in the Irish property market?
Hey, those johnnys at S&P know what they’re talking about…
http://en.mercopress.com/2015/02/04/standard-poor-s-agrees-to-pay-1.5bn-dollars-to-solve-lawsuits-from-the-2008-financial-crisis
Now Im not saying its related , but I know what I would be doing if I were an institutional investor
this:
https://www.irishexaminer.com/breakingnews/ireland/government-criticised-for-buying-mortgages-from-vulture-fund-at-full-market-value-864997.html
If I were the worried type , Id be worried
Ah listen , These auldwans loved to play the poor martyr then actually take things into there own hands. My granny was the same. She rented away in Corrib Road till she died and could have bought out the council and left the house to my separated aunt and her kids but no. Instead some smartarse who lived on the road, bought her house and many more on the road for pennies on the pound off the council and he became the landlord. When he died, his kids were liquidating the assets for maximum $$$$$ inheritance and they had to pay off the tenants in there house so they could boom time cash out, my auntie, who had been raised in the house and lived there for her whole life, over 5 decades (minus 4 years in a failed marriage) got a measly 5 grand to feck off. The house was kept immaculate, the new heated system and repairs had been all at her expense. She would have been well in her legal rights to ask for multiples of what she got to vacate the property, but the old martyr complex had rubbed into her as well. Oh well. That’s good old fashioned Kimmage parish Catholicism for you. A few of my uncles were banging there heads of a brick wall trying to convince there mother to buy the property and offered to buy it for her in the 80’s . but the rosary bead clutching brainwashed auld boot wouldn’t hear it. Terrible thing to be saying about poor nanny but she was a bit racist so its okay.
We should be thinking now about what will happen to people who can’t afford to buy now and many never own a home. How will they pay rent in their 70s?
George, I am sure the Labour Party and their trade union friends with salaries linked to higher civil service pay grades will look after the older renters.
I believe you appear to be a twit.