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Daft Report Q2

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  • 20-08-2008 11:52am
    #1
    jetski
    Registered Users Posts: 820 ✭✭✭


    http://www.daft.ie/report/Daft-House-Price-Report-Q2-2008.pdf

    Snippet

    Rents fall again in second quarter of 2008
    Having been at or close to an average of €1,400 in late 2007, the national average rent average was just over €1,350 in the second quarter of this year.

    Stock continues to increase in the rental market
    The number of new properties coming on to the market in recent months has topped 10,000. As a result, the total stock of rental properties is now above 15,000 - more than twice the level of a year ago.

    Rents fall most in Dublin in the last three months
    Rents in Ireland’s five main cities fell 3.5% in the last three months, and are now about 2% lower than this time last year.
    The fall in rents in the last quarter in areas outside the major cities was smaller at 1.9% - however rents are 4% below where they were a year ago.

    The impact of a combination of tighter credit arrangements and plummeting sentiment is clearly evident in the housing market trends of the most recent Daft.ie report. As would be expected prices in Quarter 2 fell in almost every county and nationally prices were 6% lower than in Quarter 1. What is most striking in the report, however, is the very sharp reduction in activity in the market. The 'flow' of properties on to the market declined sharply during Quarter 2, while stock levels rose to 70,000 units and have doubled in a period of just 18 months. The 'flow' of properties was just 8,000 units in the month of June and was 50% lower than in June of last year.

    Price trends
    Asking prices were down 7.9% nationally in the 12 month period to June 2008. Prices declined in every county over the past year with the sharpest falls recorded in Dublin, the commuter counties of Leinster and parts of Connacht/Ulster. Asking prices have held up much better in Munster, in Limerick, for example, prices have only fallen 1.6% in the past 12 months and actually increased marginally in the most recent quarter. It also appears that the pace of price decline has eased in Dublin in the most recent quarter but has accelerated in the rest of Leinster and in much of Connacht/Ulster

    RTE's coverage

    http://www.rte.ie/news/2008/0820/housing.html


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