Hope

Seanachai

Is there any light at the end of the tunnel for the rental market to cool down in the next couple of years and for any kind of affordable private or council property for single people to become available.

Graham

Unless there's a dramatic increase in supply, or a massive decrease in demand it is likely to be more of the same.

pc7

In my humble opinion I only see it getting worse and more expensive for renters to be honest. Lack of supply, no will to build affordable/council property, landlords leaving the market, REITs coming in (and bringing top end rents with them). But that's just my opinion and speculation, who knows, big major event, mass emigration, anything could happen, but I do feel for those renting or looking to rent in the big cities.

Graces7

pc7 wrote: »

In my humble opinion I only see it getting worse and more expensive for renters to be honest. Lack of supply, no will to build affordable/council property, landlords leaving the market, REITs coming in (and bringing top end rents with them). But that's just my opinion and speculation, who knows, big major event, mass emigration, anything could happen, but I do feel for those renting or looking to rent in the big cities.

Rural areas are the same.

ShaneC93

Even if the country were to go into recession next year, it would take 5-7 years for the property market to bottom out so realistically it will be 2-4 years at minimum until the rents / price of property go lower than they are now unless there is a massive increase in supply in the next few years combined with next-to no increase in demand (highly unlikely with brexit etc.).

DubCount

The outlook is pretty poor. The rental market is the pinch point of the property market - its where the lack of overall housing supply is compressed. Central bank rules on mortgages have controlled property sale prices, but have pushed more demand into the rental market. Increased population has also pushed up demand. Meanwhile, supply is contracting as small landlords leave and large REITs growth fails to keep pace.

I don't see any hope of an improvement, as the gap between supply and demand is massive, and all government action is focused on controlling price in stead of increasing rental supply.

hmmm

No, government policies are driving landlords out of the market, and as prices go up I expect they'll introduce even more shortsighted measurs.

If you're in a place in a RPZ with lowish rent you're laughing, just don't leave and hope your landlord doesn't leave.

The influx of corporates building rental apartments is a good thing, as it adds to supply - sure the low paid can't rent those places, but as the googlers etc move into them it frees up other places.

Shortsighted. Everything is shortsighted. It's an Irish disease.

If we could do anything it would be to build lots of affordable houses - not social housing, affordable. Proper working class estates.

BarryD2

hmmm wrote: »

If we could do anything it would be to build lots of affordable houses - not social housing, affordable. Proper working class estates.

Expectations and standards have risen a hell of a lot since the glory days of the council estates. The construction back then was basic, solid on the whole but very basic by what is expected these days by people and demanded by building & planning regs.

Personally I think the state should compulsory purchase areas of run down housing between the canals in partic in Dublin. Clear them and build apartment blocks.

hmmm

BarryD2 wrote: »

Expectations and standards have risen a hell of a lot since the glory days of the council estates. The construction back then was basic, solid on the whole but very basic by what is expected these days by people and demanded by building & planning regs.

Personally I think the state should compulsory purchase areas of run down housing between the canals in partic in Dublin. Clear them and build apartment blocks.

I don't disagree, but I think the state has a lot of scope to get builders to build modern apartments at a much reduced cost - a lot of cost is tied up in VAT and various levies which can all be waived. They don't have to be particularly large, and no fancy stuff like granite counters and neff ovens.

I think many/most people would be happy for some of their taxes to go towards subsidised housing for lower paid workers. A lot of the pushback comes with the feeling that social housing is going towards people who don't contribute.

Agree fully re between the canals - but give them to people who work. There is no excuse with nearly full employment for any family without someone in employment to receive state subsidised housing in Dublin city centre.

GGTrek

DubCount wrote: »

The outlook is pretty poor. The rental market is the pinch point of the property market - its where the lack of overall housing supply is compressed. Central bank rules on mortgages have controlled property sale prices, but have pushed more demand into the rental market. Increased population has also pushed up demand. Meanwhile, supply is contracting as small landlords leave and large REITs growth fails to keep pace.

I don't see any hope of an improvement, as the gap between supply and demand is massive, and all government action is focused on controlling price in stead of increasing rental supply.

This is a perfect analysis of the current situation of the private rental market in Ireland. Unless there is a big economic crisis, low to middle income renters like the OP are screwed in the medium term (3 to 5 years at least). I was checking daft today, for the whole of Dublin City there were only 41 properties advertised (half of them really bedrooms in shared accommodation) for less than 1000 eur. The cheap rentals of the crisis are gone and very unlikely to come back. The vast majority of the Irish politicians have really pi..ed off/scared off small and medium landlords with their myopic blame the LLs policies while the REITs/funds will not offer properties at such low rent level.



If I look at other markets that I know well like Spain even cities half the size of Dublin have a rental supply that is almost an order of magnitude greater than Dublin! The Irish politicians and the Irish sold out media have really managed to annihilate new supply in the private rental market by just giving stick to landlords and investors and are hellbent in eliminating even current tenancies with their current socialist/communist proposals for a total lockdown and de-facto expropriation of rented properties.


Socialist methods only achieve one result: scarcity!


The OP post is just a sample of the naivety of most Irish people wrt the rental market: hope is not going to provide any incentive to the people willing to invest in property to rent out, when the politicians and the sold out media with the support of the majority of Irish society just give stick to the same people every single day. How is it normal that there is not a single month that passes without new proposals to regulate the rental market to death and with the hypocrite politicians and the sold out media standing on very high moral ground:D: regulations have never built a single house!

Edgware

Graces7 wrote: »

Rural areas are the same.

Not as bad as Dublin but catching up. Dormitory towns outside Cork Limerick and Galway are feeling the pinch as rents rise and supply falls

Seanachai

GGTrek wrote: »

This is a perfect analysis of the current situation of the private rental market in Ireland. Unless there is a big economic crisis, low to middle income renters like the OP are screwed in the medium term (3 to 5 years at least). I was checking daft today, for the whole of Dublin City there were only 41 properties advertised (half of them really bedrooms in shared accommodation) for less than 1000 eur. The cheap rentals of the crisis are gone and very unlikely to come back. The vast majority of the Irish politicians have really pi..ed off/scared off small and medium landlords with their myopic blame the LLs policies while the REITs/funds will not offer properties at such low rent level.



If I look at other markets that I know well like Spain even cities half the size of Dublin have a rental supply that is almost an order of magnitude greater than Dublin! The Irish politicians and the Irish sold out media have really managed to annihilate new supply in the private rental market by just giving stick to landlords and investors and are hellbent in eliminating even current tenancies with their current socialist/communist proposals for a total lockdown and de-facto expropriation of rented properties.


Socialist methods only achieve one result: scarcity!


The OP post is just a sample of the naivety of most Irish people wrt the rental market: hope is not going to provide any incentive to the people willing to invest in property to rent out, when the politicians and the sold out media with the support of the majority of Irish society just give stick to the same people every single day. How is it normal that there is not a single month that passes without new proposals to regulate the rental market to death and with the hypocrite politicians and the sold out media standing on very high moral ground:D: regulations have never built a single house!

I don't think I'm naive, a little bit on the cynical side if I'm honest, I'm just not clued in to the logistics of the housing market. You all seem pretty knowledgeable and it paints a pretty grim picture. I'm seriously considering putting a cabin on the parents plot and looking for work back in the SE.

With all the talk about diversity, neighbourhoods are going to have a serious lack of diversity in terms of class if it continues the way it's going.