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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Sun Sep 17, 2017 6:21 pm 
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conork wrote:
Jeez, what is it, house prices going up or down is a good or bad thing. Government has thrown the sink at the situation and now people complain.


Price is irrelevant when there is virtually no supply.

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Sun Sep 17, 2017 9:09 pm 
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Open Window wrote:
conork wrote:
Jeez, what is it, house prices going up or down is a good or bad thing. Government has thrown the sink at the situation and now people complain.


Price is irrelevant when there is virtually no supply.

Supply/demand create the price.
The crisis is intentional.

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Mon Sep 18, 2017 6:27 pm 
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conork wrote:
Open Window wrote:
conork wrote:
Jeez, what is it, house prices going up or down is a good or bad thing. Government has thrown the sink at the situation and now people complain.


Price is irrelevant when there is virtually no supply.

Supply/demand create the price.
The crisis is intentional.

Of course it is. There's AIB shares to offload after all.

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Sun Sep 24, 2017 6:04 am 
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Dublin cost of living same as London's: Irish prices 2nd highest in EU - -> http://www.finfacts.ie/Irish_finance_ne ... -in-EU-797

Quote:
Exchange rate changes have put the cost of living in Dublin at the same level as London's while data last month from Eurostat show Irish prices for a broad cross-section of consumer goods and services were the second highest in the European Union (EU), coming in at 125% of the average of the 28 member countries in 2016. With the exception of consumer electronics, Ireland was above the EU average for all the price categories surveyed.
<snip>
At the new Maple development of all-rental units, owned by a property REIT (real estate investment trust) in Sandyford, South Dublin, a 1-bed apartment is renting for €1,800 and the developer has not even provided the floor space in the ad. A 2-bed costs from €2,600 monthly — average Irish national earnings in 2016 were at €36,919.


there is more


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Sun Oct 01, 2017 3:14 am 
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The autumn seasonal dip in rental ads on Daft.ie is at a new low. Only 935 ads for houses and apartments in total for all of Dublin on October 1st (chart, more charts). The total number of houses for rent among 1.3 million people is less than a single decent sized housing estate!

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Sun Oct 01, 2017 11:23 am 
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ps200306 wrote:
The autumn seasonal dip in rental ads on Daft.ie is at a new low. Only 935 ads for houses and apartments in total for all of Dublin on October 1st (chart, more charts). The total number of houses for rent among 1.3 million people is less than a single decent sized housing estate!


I'm calling a second lost decade, back to back. For the win. XX

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Mon Oct 02, 2017 4:54 am 
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ps200306 wrote:
The autumn seasonal dip in rental ads on Daft.ie is at a new low. Only 935 ads for houses and apartments in total for all of Dublin on October 1st (chart, more charts). The total number of houses for rent among 1.3 million people is less than a single decent sized housing estate!


The number of 935 is astonishing.

According to daft the properties for rent number in Dublin peaked in Dublin in late 09 at 7,000 and close to 4,000 new properties were being advertised a month!

There are 479k dwellings in Dublin city and county. A microscopic 0.2% of them right now are currently advertised as being for rent. The private rental stock is 114k, and it's still well under 1% of that too.

According to the RTB the average tenancy is a bit over three years. As such a lot of new tenancies mustn't be going near daft at all these days, just let quietly to people already on EAs' books, people coming to ends of tenancies finding friends to take over, etc.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Mon Oct 02, 2017 10:53 am 
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I don't believe there is any secret market - tenants are just staying put.

In the last three years I have had only two properties become vacant - one was due to immigration (tenant return to Canada), the other for non-payment of rent (vanished into the night after RTB adjuctication decided she owned €17k).

This compares with 2011, when I had 14 turnovers in a 12 month period.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Mon Oct 02, 2017 12:02 pm 
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I was talking to a Brazilian girl over the weekend who said she lives in a house in Fairview with 23 other Brazilian girls. Four to a room. When the powers that be talk about the benefits of 'diversity' etc etc this is what they really mean ie of benefit to their bank balances.

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Mon Oct 02, 2017 6:34 pm 
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When the rent is capped by legislation at a level below what neighboring properties already charge at a time where there are huge numbers of people seeking accommodation, why would a landlord advertise on Daft? You will be inundated with calls and emails and most likely have to just take the add down after 20 minutes or even less. Word of mouth and a personal recommendation from someone you trust is the starting point for finding a tenant. Chances are the old tenants will know people, your friends, families, colleagues, etc... will know people. You can start with a short list, do one to one viewings and get to talk to prospective tenants properly rather than have crowds coming through the property.

Daft is redundant in the current market, their turnover of stock means nothing and the advertised rents are the top tail of the distribution and representative of landlords who got lucky with the timing of their last rent review and squeezed every last drop they could and of course the cohort who're flat out ignoring the current legislation.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Wed Oct 25, 2017 12:22 pm 
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Dubliners spend 55% of take-home pay on rent
Rent-to-income ratio at new high in Dublin, with Limerick the cheapest urban area
https://www.irishtimes.com/business/per ... -1.3267093
Quote:
In 2008, as the Celtic Tiger bid farewell, Dublin dwellers were spending about 53 per cent of their disposable income on rent, in excess of the national average of about 40 per cent. However, the ratio tapered thereafter, but has been rising steadily since 2012. The latest figure represents a new high.
“Capital cities are typically unaffordable for those on average incomes,” said Marian Finnegan, chief economist with Sherry FitzGerald, but added that the “very high figure” in Dublin does reflect how much of a crisis the market is in.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 8:18 am 
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Rents now 16% higher than their 2008 peak. Now at highest ever.
http://www.thejournal.ie/rent-prices-ha ... 7-Nov2017/


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 10:07 am 
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I heard Ronan Lyons on the radio this AM say rents in the likes of Cavan are up 40% in the past few years and are now nearly 8% above their Tiger peak :shock:


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 3:47 pm 
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temene wrote:
Rents now 16% higher than their 2008 peak. Now at highest ever.
http://www.thejournal.ie/rent-prices-ha ... 7-Nov2017/

And just think how high they can be driven over next few years as employment figures are strong. It'll be crazy - I think people will look back wistfully at the rents they were paying in 2017.
XX

I look at what a lot of my late 20-something work colleagues are paid, and what they outlay on rent in Dublin... they have no real hope of buying OR saving. It's a real double-edged sword.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 5:35 pm 
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Posts: 350
FreeFallin wrote:
I heard Ronan Lyons on the radio this AM say rents in the likes of Cavan are up 40% in the past few years and are now nearly 8% above their Tiger peak :shock:


rents were low during the tiger period though so that shouldnt be a shock


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