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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 6:22 pm 
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Post 2001 rents were relatively good value. Around 98-2001 there was a 'rental crisis' in Dublin


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 6:32 pm 
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Epicurus wrote:
Post 2001 rents were relatively good value. Around 98-2001 there was a 'rental crisis' in Dublin


Tick-Tock-Tick-BOOM!

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 7:33 pm 
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Epicurus wrote:
Post 2001 rents were relatively good value. Around 98-2001 there was a 'rental crisis' in Dublin


People have totally forgotten this.
Rents peaked in 2001/2002, then dropped for several years before peaking again in 2008.
The peak in 2008 was roughly the rents same as the peak in 2001/2002.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 10:23 pm 
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jess wrote:
Epicurus wrote:
Post 2001 rents were relatively good value. Around 98-2001 there was a 'rental crisis' in Dublin


People have totally forgotten this.
Rents peaked in 2001/2002, then dropped for several years before peaking again in 2008.
The peak in 2008 was roughly the rents same as the peak in 2001/2002.


Dublin rents in 2002 were atrocious.

Appreciably higher in relation to average incomes than they are even today.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Tue Nov 14, 2017 11:27 pm 
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Eoghan Murphy has disputed the numbers in today's daft report:

Minister for Housing Eoghan Murphy has disputed a report by property website Daft.ie showing an 11.2 per cent increase in rents in the last 12 months.
Mr Murphy said the Government was well aware of the acute pressures in the rental market driven by rising demand, the economic recovery, a lack of supply and by the high costs that indebted landlords face in servicing their mortgages.
He said the pressures were borne out by the upward trend highlighted in the data but that “ I would dispute the reported rate of increase”.
The Minister said the website measured asking prices which tended to be higher than the rents actually being paid by tenants.
“The low number of properties being advertised on Daft.ie means that the figures are based on a relatively small sample and may not be entirely representative,” he said.


I agree with him. Daft is showing year on year increases of about 11% in the first half of 2017. The RTB/ESRI index is showing only about 7%. This latter index is based on all registered tenancies, not just those advertised online. I need not remind pinsters that the stock on daft is at an all time low.

Typically these two series have barely diverged. But, now that they are, I would tend to trust the one with the more representative sample (in fact the population). And that is the RTB/ESRI one.


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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Wed Nov 15, 2017 5:26 am 
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A lot of fuss over stock vs flow. They're representative of different things.

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 Post subject: Re: Rental Costs - Unreal!!
PostPosted: Wed Nov 15, 2017 12:42 pm 
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Eschatologist wrote:
A lot of fuss over stock vs flow. They're representative of different things.


Exactly, it's utterly beside the point.

Yet what it tells us about the thinking and outlook at the top is far more valuable.

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