Places to rent in Kilkenny

ultimoguerrero

Does anybody know why there's a sudden shortage of houses or apartments to rent on Daft? There was always close to 100 in Kilkenny City and now it's 11. I doubt they were all taken overnight?

road_high

ultimoguerrero wrote: »

Does anybody know why there's a sudden shortage of houses or apartments to rent on Daft? There was always close to 100 in Kilkenny City and now it's 11. I doubt they were all taken overnight?

Chronic shortage in kilkenny. There have been a lot of new jobs created in kilkenny over the past two years with Glanbia, VHI, State street etc all expanding as well as the hospital and also tourism doing really well. There's been an influx of young professionals to the city who are in the traditional private rental market. Also with the motorway opening Kilkenny is seen as an attractive base for anyone working along the M9 corridor. All of these factors have pushed supply to the limit. Have heard of some short term professional workers in the city being put up in hotels short term, such is the shortage.
Couple all this with the lack of new builds post crash, it has led to the situation you describe. There's an ugly block of apts out by Robertshill, can't see why they are not finished and occupied now.

ultimoguerrero

road_high wrote: »

Chronic shortage in kilkenny. There have been a lot of new jobs created in kilkenny over the past two years with Glanbia, VHI, State street etc all expanding as well as the hospital and also tourism doing really well. There's been an influx of young professionals to the city who are in the traditional private rental market. Also with the motorway opening Kilkenny is seen as an attractive base for anyone working along the M9 corridor. All of these factors have pushed supply to the limit. Have heard of some short term professional workers in the city being put up in hotels short term, such is the shortage.
Couple all this with the lack of new builds post crash, it has led to the situation you describe. There's an ugly block of apts out by Robertshill, can't see why they are not finished and occupied now.

I agree but this is literally overnight I'm wondering have daft starting charging more to list or something as it's like someone flicked a a switch. Rents are slowly rising again and we'll be back to a ridiculous situation of hugely inflated rents from around 2006 and the cycle begins again....

hi5

I was in Callan the other day and turned down a side road and was met with what looked like a ghost estate, every window in every house smashed, what a shame:(

catbear

i remember that happening on daft before, it might be some sort of restructuring on the actual site itself.

Anyway just check the private ads on the last few weeks on the KP and if the drop is replicated then you might be onto something.

Dymo

hi5 wrote: »

I was in Callan the other day and turned down a side road and was met with what looked like a ghost estate, every window in every house smashed, what a shame:(

There all set to be knocked, badly built I heard

hi5

Dymo wrote: »

There all set to be knocked, badly built I heard

Sure they were all badly built back then.
I wonder is more to do with keeping supply low and prices up.
High prices serve no body in the long run, 'opportunity cost' and all that:(

road_high

Were they out the Windgap road? Bolton woods or something.
The city needs new developments. Badly

catbear

road_high wrote: »

The city needs new developments. Badly

What are your assertions based on? I've just checked Daft and there doesn't seem to a shortage of houses for sale and nearly all advertised have price reductions. If the current stock can't finder buyer then who's going to pay for more new housing?

highgiant1985

catbear wrote: »

What are your assertions based on? I've just checked Daft and there doesn't seem to a shortage of houses for sale and nearly all advertised have price reductions. If the current stock can't finder buyer then who's going to pay for more new housing?

As an aside the number of Properties for sale in the city 6 years ago stood at 280 today it stands at 120.

Its been interesting to follow.

road_high

catbear wrote: »

What are your assertions based on? I've just checked Daft and there doesn't seem to a shortage of houses for sale and nearly all advertised have price reductions. If the current stock can't finder buyer then who's going to pay for more new housing?

Based on the fact that prices have been rising for rented property and the supply of same has dropped a lot. There's a shortage of private rented accom in Kilkenny.

Dymo

People can't get finance to buy so everyone has to rent driving down the amount of rental properties, where the number for sale is still high

catbear

highgiant1985 wrote: »

As an aside the number of Properties for sale in the city 6 years ago stood at 280 today it stands at 120.

Its been interesting to follow.

it certainly has. Daftwatch was fascinating to follow from 06 until it ceased in 12. Nationally it tracked supply more than quadrupling in three years.


The kilkenny market was no different. Highgiant, do you have any tracking info on the last two years?
I do wonder how sharp this tightening was and is it related to debt deals being done with the banks etc. There seems to be a concerted effort to inflate prices again and debt deals could remove some desperate sellers.

As an outlying quality development when Cnoc Baun on the goldlinks road is completely sold then I'll believe that demand isn't been interfered with by state supported banks.

mahamageehad

Been having crazy trouble trying to find a place to live in Kilkenny!! I have about two weeks to find a new place and there's only ever between 8 and 12 on daft and the most don't have parking for more than one!

This has been the worst it's been here in two years! Some of the places I've gone to see I've put in an offer only to be told that they had other people who were still to come. The housing shortage at the minute is mad.

Anyone think it'd be worth throwing an ad in the KK People? Nothing on it in terms of places to let this week either! All i want is a nice, clean 2 or 3 bed place!

toe_knee

I had the same problem. The house I found in the end wasn't even advertised on daft or myhome. I was driving around and seen the auctioneer sign in the window. I rang them and told them I would take it straight away. No viewing or anything. This was about a year ago. I know other houses in this estate have not been advertised on daft or myhome. I am in the hous just over a year now and couldnt be happier

catbear

I saw this map on the Journal during the week, it's shows where the most empty units are in the country. It's estimated that there's just under 300,000 empty representing 15% of the housing stock, most other countries have a 3% vacancy rate. Kilkenny does show up on that map but obviously not to the degree that the west does but it does show that there are empties out there.

I wonder is there any estimate for the vacancy rate for kilkenny? I know some municipalities abroad use water meters to establish the rate so that where there may be only an advertised 3% vacancy rate the real rate can be much higher.

mahamageehad

catbear wrote: »

I saw this map on the Journal during the week, it's shows where the most empty units are in the country. It's estimated that there's just under 300,000 empty representing 15% of the housing stock, most other countries have a 3% vacancy rate. Kilkenny does show up on that map but obviously not to the degree that the west does but it does show that there are empties out there.

I wonder is there any estimate for the vacancy rate for kilkenny? I know some municipalities abroad use water meters to establish the rate so that where there may be only an advertised 3% vacancy rate the real rate can be much higher.

That's really interesting to see! It's strange as well, when I set up an email alert on daft for 2-3 bed places it says that it's an estimated 5 emails a day. More like 5 a week! I'm starting to panic at this stage as I need to find somewhere in the next 10 days! Deposit and references ready to go, safe bet because full time employed but no houses! :(