Filmed across the spring and summer of 2017, this highly topical 2nd series offers a unique insight into the personal stories behind Ireland’s hugely competitive property market.
Young couple Rachel and Mat are keen to live together, but they’ve had an unsuccessful marathon search of the rentals available on Dublin’s north side. For Mat, a pilot, location is key. But from Santry to Blanchardstown, 2 bed houses are now costing on average €1,700 a month. They’ve been priced out of the rental market but discover that once they pool their savings for a deposit they can afford to buy a house. Rachel (25) a schoolteacher, has done the math;
“We’re looking at €1,000 in monthly mortgage repayments on an apartment that would cost €1,700 a month if we were renting it. We’re not even together that long, so you could say that we’re taking a risk getting a mortgage, but it makes no sense to rent when it’s cheaper to buy. Rachel Murray
Originally from Dublin, Caroline Digby has been living abroad for 35 years. She is planning to return home if she can find the right house, at the right price. With a healthy budget of €700,000 she’s looking for a turnkey property in the more pricey postcodes along the south Dublin coast from Sandymount to Dun Laoghaire.
She is soon trumped by the trickiness of buying a house on the open market in Dublin where pent up demand is driving up prices and where the asking price is just a starting point for a negotiation upwards. She finds this blind auction process frustrating, time consuming and heart breaking as she loses out to buyers with deeper pockets.
Caroline offers the asking price of €650,000 on a modest 2 bed mid-terrace in Sandymount. Her offer effectively blows away her competition but then she waits six weeks while her offer remains on the table unaccepted. Eventually she grasps that the seller has no intention of selling for the market price advertised.
‘How far above the asking price do you have to go in Dublin? I can’t think what else they’re waiting for other than a higher offer from another bidder. “ Caroline Digby