DAFT Q2 2010 Rental Report - Asking Rents -0.9%

bugler

http://www.daft.ie/report/Daft-Rental-R ... 2-2010.pdf

Average asking rent is -0.9% for the quarter.

In Dublin North City, South City and City Centre the falls all exceed that. North and South County Dublin ("outside the postcodes") bucked the trend.

Limerick and Galway holding fairly steady, Cork and particularly Waterford suffering.

gurramok

They've sort of settled for around 900-1000 for a 2bed where i am for the last year. A cut in Rent Supplement is due to buck this trend.

Cookie_Monster

gurramok wrote: »

A cut in Rent Supplement is due to buck this trend.

true, this is really starting to artificially hold up the market now

gurramok

And when we do reach the bottom of the sales market, all those first time buyers who were renting and have good rep. regarding work & finances will free up alot of rental properties when they buy. Only way for rents for the future is down.

bugler

I wouldn't hold my breath for RA to be cut substantially. The current crop of politicians (government or opposition) don't have the balls or brains to tackle this issue.

bobbysands81

gurramok wrote: »

And when we do reach the bottom of the sales market, all those first time buyers who were renting and have good rep. regarding work & finances will free up alot of rental properties when they buy. Only way for rents for the future is down.

...or first time buyers start buying places that they are currently renting thus reducing the amount of rental units in the market.

There are an awful lot of units being rented because the owners cannot sell them, once the market bottoms out these will be sold.

mathie

bobbysands81 wrote: »

...or first time buyers start buying places that they are currently renting thus reducing the amount of rental units in the market.

There are an awful lot of units being rented because the owners cannot sell them, once the market bottoms out these will be sold.

Of the two properties I recently looked at one was going to be rented out as they couldnt get what they wanted. The other was coming off a year of being rented as it previously couldn't get what they wanted.

rightwingdub

bugler wrote: »

I wouldn't hold my breath for RA to be cut substantially. The current crop of politicians (government or opposition) don't have the balls or brains to tackle this issue.

In dublin rent allowance should be cut by at least 40%, a family with three kids can still claim up to €1,100 per month in rent allowance.

rightwingdub

My landlord only froze the rent for the next 12 months, I'm now looking for places to rent.