Ireland’s Guide To Money And Living

Consumer watch

Consumer watch

Consumer costs

Given the week that’s in it, it’s interesting to read about the issues and challenges faced by consumers 100 years ago. That’s the topic of choice for Conor Pope, who writes in The Irish Times this week about how modern consumers are much better off when compared to their historical counterparts.

Quoting figures from the Central Statistics Office, consumers in 1916 paid the equivalent of €4.90 for a dozen eggs, and a pound of jam cost €3.67.

Far flung homes

According to the Irish Independent this week, commuters are purchasing homes up to two counties away from their place of work. Mortgage restrictions issued by the Central Bank are thought to be a major factor – workers are seeking homes further afield, with house prices lower outside of Dublin and other urban centres.

Findings from an Irish Independent/Real Estate Alliance (REA) survey noted that the average price of a three bed semi-detached house in Dublin city and county has risen by 0.6% in the first three months of the year. A mixture of deposit rules and a lack of supply are pushing buyers outside Dublin.

“Louth is the perfect example of this trend in commuter migration. Drogheda prices remained static at €197,500 in Q1 while commuter interest caused prices to rise by €10,000 to €135,000 in Dundalk, which is 35km further away from Dublin but over €60,000 cheaper on average,” said REA Chairman Michael O’Connor.

Mortgage mix-ups

Finally, Permanent TSB (PTSB) customers with tracker mortgages are considering legal action after they were mistakenly moved to alternatives. RTÉ reports that while PTSB CEO Jeremy Masding assured customers that they would be returned to their original tracker rates, customers found that these rates were higher than had previously been the case. Legal action could now be an option for a number of these customers.

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When not writing about all things personal finance, You & Your Money's editor Conor Forrest enjoys reading, football and getting lost in an ocean of Wikipedia articles.
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