Rental Price Database launched

RATM

Got underway this morning, joint effort between the PRTB and the CSO

http://www.cso.ie/px/prtb/database/prtb/PRTBStatistics/prtb_test.asp

Seems quite clunky to use.

From the Irish Times

A weakening of Dublin apartment rents (by 3.9 per cent to €964 in the first quarter of 2013 compared with the last quarter of 2012) was behind a 1.9 per cent fall in the capital’s average rental prices, the report found. The average rent in Dublin during the period was €974 House rental income in the capital grew marginally by 0.3 per cent.

BostonB

Seems to be lacking data. or I'm not using it right.

gaius c

Can you link to that quote RATM because the RTE website is completely contradicting it?

http://www.rte.ie/news/2013/0508/391075-national-rent-index/

jd83

BostonB wrote: »

Seems to be lacking data. or I'm not using it right.

I cant get it to give any figures either.

murphaph

Garbage.

It doesn't return a single 3 bed in D15 in 2012. That is clearly nonsense.

Tigger

either i'm stupid or they are

snubbleste

murphaph wrote: »

Garbage.
It doesn't return a single 3 bed in D15 in 2012. That is clearly nonsense.

You are using the wrong tool. Try mine http://www.boards.ie/vbulletin/showthread.php?t=2056943796

Three bed- All property types- Dublin 15
2012Q1 950.76
2012Q2 939.13
2012Q3 939.02
2012Q4 924.76
2013Q1 929.95

murphaph

You mean the one I used (annual) doesn't function properly and you have to use the quarterly one because the PRTB/CSO have wasted yet more taxpayers' money on dreadful software. It's like the LPT estimator junk all over again.

None of these tolls will ever work without first having accurate postcodes that can locate small clusters of dwellings.

snubbleste

The annual one works as well. Where you are finding the issue
Three bed- All property types- Dublin 15
2012 Three bed 933.12

BostonB

This is what I get

PRTB Average Rent Report (Euro) by Number of Bedrooms, Property Type,
Location and Year
2008 2009 2010 2011 2012
Three bed
Semi detached house
Dublin 15 .. .. .. .. ..
Blanchardstown, Dublin 15 .. .. .. .. ..
Castleknock, Dublin 15 .. .. .. .. ..
Clonee, Dublin 15 .. .. .. .. ..
Clonsilla, Dublin 15 .. .. .. .. ..
Corduff, Dublin 15 .. .. .. .. ..
Mulhuddart, Dublin 15 .. .. .. .. ..
Terrace house
Dublin 15 .. .. .. .. ..
Blanchardstown, Dublin 15 1,394.50 1,227.62 1,145.51 1,117.22 1,117.58
Castleknock, Dublin 15 .. .. .. .. ..
Clonee, Dublin 15 .. .. .. .. ..
Clonsilla, Dublin 15 .. .. .. .. ..
Corduff, Dublin 15 .. .. .. .. ..
Mulhuddart, Dublin 15 .. .. .. .. ..

gaius c

murphaph wrote: »

You mean the one I used (annual) doesn't function properly and you have to use the quarterly one because the PRTB/CSO have wasted yet more taxpayers' money on dreadful software. It's like the LPT estimator junk all over again.

None of these tolls will ever work without first having accurate postcodes that can locate small clusters of dwellings.

Amen.
They should just do what they did with the PPR and put the raw data up publicly and let ordinary citizens make up proper websites for free.

murphaph

snubbleste wrote: »

The annual one works as well. Where you are finding the issue
Three bed- All property types- Dublin 15
2012 Three bed 933.12

Ah, I was (stupidly expecting this interface to work) so I was looking specifically for semi detached properties. It seems they've lumped ALL property types under "detached house" for the craic (or more likely because they simply don't have this data available which makes this whole silly exercise completely and utterly pointless. This "tool" is as much use a chocolate teapot, like the LPT estimator was.

For such a tool to be useful for comparisons and I dare say for creating a rent index for rent control, you need MUCH more detail. You firstly need to have much smaller geographic areas. This can only be achieved with an accurate post code system in place. Our current system simply doesn't allow for it.

You also need to know the SIZE of the property so you can find out how much rent PER SQUARE METRE is being charged.

If we are moving towards a rent control environment (and I see little other reason to introduce this thing) then tenants will have to get used to a minimum spec in all/most dwellings in the future as LLs will not be able to charge more for that new fitted kitchen with all mod cons.

There will simply be little reason to have a better unit than the next guy because you'll not be able to charge any more for it.

StillWaters

I really don't think we are moving to a rent control model murphaph. I mean who wants that?

gaius c

It's probably more down to the PRTB using the data to establish "market rents" for areas when resolving disputes involving negotiation of rent between a landlord & tenant, i.e. if market rents show a 3% increase YOY then a proposed increase of 5% YOY will be deemed to not be in line with market rents.

murphaph

StillWaters wrote: »

I really don't think we are moving to a rent control model murphaph. I mean who wants that?

Most renters on here I'd say. I might be wrong of course, but I see the PRTB initially using this as their "market rate" comparator for disputes and then later maximum % increases etc. Only time will tell what this thing is to be used for.

RATM

gaius c wrote: »

Can you link to that quote RATM because the RTE website is completely contradicting it?

http://www.rte.ie/news/2013/0508/391075-national-rent-index/

The Irish Times article is here
http://www.irishtimes.com/life-and-style/homes-and-property/rental-index-shows-2-increase-1.1386091

Says rents are up 2% nationally but down 3.9% in Dublin during Q1 2013. Not sure if they seasonally adjust their figures or not.

PhilMcGee

RATM wrote: »

The Irish Times article is here
http://www.irishtimes.com/life-and-style/homes-and-property/rental-index-shows-2-increase-1.1386091

Says rents are up 2% nationally but down 3.9% in Dublin during Q1 2013. Not sure if they seasonally adjust their figures or not.

I definitely would have had the opposite experience.

murphaph

As already noted...RS shenanigans with LLs having side contracts to cover the shortfall could easily account for a significant margin of error at this end of the market, especially in Dublin.