Dublin - Significant reduction in rents coming?

AssetBacked2

True, it harms landlords more than tenants I'd say; and of course it is the small landlords who are the ones getting shafted as usual as they don't have access to the data the institutionals would have.

Deisler

As someone looking for a one bed apartment in Dublin what is the best platform to search given that rents are reducing?

brisan

Deisler wrote: »

As someone looking for a one bed apartment in Dublin what is the best platform to search given that rents are reducing?

Daft
However take the advertised price as an asking price not as a definitive price
1 bed APTS are getting harder to let out

cgcsb

Seems that the amount of places for rent in Dublin with an asking rent below €1,000 has increased significantly in the past 2 weeks. Even still in a functional rental market, even in a larger European city, creepy little bed sits with nuke proof 80s furniture cannot achieve €999 a month so there's still a way to travel before the market could be considered normal. These types of hovels shouldn't really be getting €500 pm in a functional market. For the landlords who built their business case on a one bed providing €2k a month forever with average wages what they are, well that was a dumb call in the first place even if corona never happened, some market correction would have ended that income stream sooner rather than later.

In the buying and selling market the number of properties asking for less than €200k has ballooned, more than tripple pre covid levels I'd say. I also notice there are some properties for sale (mostly tiny crappy surburban 1 bed apts in ****ty locations) that are on for more than a year and no movement in asking price, obviously some sellers in no hurry. The number of properties for auction is also one to watch, there are now a dozen or more with a sub 200k guide price. You could pick up a few bargains at auction if you have the means and I'd expect the number of properties for auction to increase, I'm sure there's lots of amature landlords behind on payments at the moment. Come March/April, one year since first lockdown there may be an auction bonanza.

Daft reports are disappointing, reads like they've gone out of their way to take sides (sellers and landlords) rather than just reporting honestly on the market.

agoodpunt

Daft is a business at €56 for a rental add they need to encourage advertising from LL and sellers they dont get any funds from renters or buyers so data will lean in a certain direction.
There will be a short window for bargains till vaccine rollout.

Manion

I'm not sure what the issue is with the daft.ie Q3 report. Seems perfectly readable to me and understandable? Are people throwing muck or is there specific issues with what is reported in the document. Ronan Lyons is a well established and respected economist and expert in this area, I think I might take his word over new user 1234, who is definitely a real person and totally not some agenda welding reactionary.

Smouse156

Manion wrote: »

I'm not sure what the issue is with the daft.ie Q3 report. Seems perfectly readable to me and understandable? Are people throwing muck or is there specific issues with what is reported in the document. Ronan Lyons is a well established and respected economist and expert in this area, I think I might take his word over new user 1234, who is definitely a real person and totally not some agenda welding reactionary.

Ronan Lyons is paid to pump Daft.ie! He’s an intelligent fella but naturally heavily biased. On that basis alone you can’t take his word as gospel

AssetBacked2

Manion wrote: »

I'm not sure what the issue is with the daft.ie Q3 report. Seems perfectly readable to me and understandable? Are people throwing muck or is there specific issues with what is reported in the document. Ronan Lyons is a well established and respected economist and expert in this area, I think I might take his word over new user 1234, who is definitely a real person and totally not some agenda welding reactionary.

Attacking the poster, not the post. Good man, that bolsters your argument :rolleyes:

Graham

Mod Note

AssetBacked2, please leave the moderation to the mods.

Do not reply to this post.

cgcsb

Manion wrote: »

I'm not sure what the issue is with the daft.ie Q3 report. Seems perfectly readable to me and understandable? Are people throwing muck or is there specific issues with what is reported in the document. Ronan Lyons is a well established and respected economist and expert in this area, I think I might take his word over new user 1234, who is definitely a real person and totally not some agenda welding reactionary.

His claims of rents leveling out ignore the balooning availability on the daft website. As other posters point out everyone in the world has inherent biases. Bill Gates will probably tell you that bing maps are better than google, but as an intelligent human you have the ability to take that view into account and form your own view rather than blindly regurgitate what someone, who undoubtedly knows their business, tells you.

AssetBacked2

I posted before about my own Daft search (2 beds minimum, max price 2300 and houses), I am now seeing a lot of decent places in good areas within that price range in Dublin. Here is a collection on Daft right now;

3 bed, Terenure 2300 https://www.daft.ie/dublin/houses-for-rent/terenure/the-cloisters-terenure-terenure-dublin-2094014/

3 bed, Dalkey 2300 https://www.daft.ie/dublin/houses-for-rent/dalkey/saint-patricks-road-dalkey-dublin-3114715/

3 bed, Portobello 2300 (a bit hipstery but kind of cool) https://www.daft.ie/dublin/houses-for-rent/portobello/4-alexandra-terrace-portobello-dublin-3114968/

3 bed, Stillorgan 2300 https://www.daft.ie/dublin/houses-for-rent/stillorgan/51-stillorgan-heath-stillorgan-dublin-2082792/

3 bed, Donnybrook 2275 https://www.daft.ie/dublin/houses-for-rent/donnybrook/donnybrook-manor-dublin-donnybrook-dublin-3111554/

2 bed, Windy Arbour 2200 https://www.daft.ie/dublin/houses-for-rent/windy-arbour/7-millmount-terrace-windy-arbour-dublin-2085859/

3 bed, Ranelagh 2200 https://www.daft.ie/dublin/houses-for-rent/ranelagh/4-mountpleasant-terrace-upper-ranelagh-dublin-3126598/

2 bed, Ringsend 1900 https://www.daft.ie/dublin/houses-for-rent/dublin-4/south-dock-street-ringsend-dublin-4-dublin-2064011/

2 bed, Donnybrook 1850 https://www.daft.ie/dublin/houses-for-rent/donnybrook/52-donnybrook-manor-donnybrook-dublin-3113682/

There is significant pressure coming down on apartments at this point, particularly those with 1/2 beds prices at or close to 2000 (with the exception of new builds/GCD places). We are looking at prices achieved back in 2016 at this point, which are continuing to fall. It took 3 years to get to 2019 levels and I do not see how it will take under a year to get even close to those levels from what we currently see. A key factor in inflating rental prices is immigration and continued job growth; both of which are muted for another 6 months at least, after which, who knows what will happen.

Claw Hammer

AssetBacked2 wrote: »

I

A key factor in inflating rental prices is immigration and continued job growth; both of which are muted for another 6 months at least, after which, who knows what will happen.

The Celtic Tiger baby boom is now giving rise to increasing household formation. Co-incident with this is increased life expectancy leading to a lot of pensioner households is also an operative factor.

Ozark707

AssetBacked2 wrote: »

I posted before about my own Daft search (2 beds minimum, max price 2300 and houses), I am now seeing a lot of decent places in good areas within that price range in Dublin. Here is a collection on Daft right now;

3 bed, Terenure 2300 https://www.daft.ie/dublin/houses-for-rent/terenure/the-cloisters-terenure-terenure-dublin-2094014/

3 bed, Dalkey 2300 https://www.daft.ie/dublin/houses-for-rent/dalkey/saint-patricks-road-dalkey-dublin-3114715/

3 bed, Portobello 2300 (a bit hipstery but kind of cool) https://www.daft.ie/dublin/houses-for-rent/portobello/4-alexandra-terrace-portobello-dublin-3114968/

3 bed, Stillorgan 2300 https://www.daft.ie/dublin/houses-for-rent/stillorgan/51-stillorgan-heath-stillorgan-dublin-2082792/

3 bed, Donnybrook 2275 https://www.daft.ie/dublin/houses-for-rent/donnybrook/donnybrook-manor-dublin-donnybrook-dublin-3111554/

2 bed, Windy Arbour 2200 https://www.daft.ie/dublin/houses-for-rent/windy-arbour/7-millmount-terrace-windy-arbour-dublin-2085859/

3 bed, Ranelagh 2200 https://www.daft.ie/dublin/houses-for-rent/ranelagh/4-mountpleasant-terrace-upper-ranelagh-dublin-3126598/

2 bed, Ringsend 1900 https://www.daft.ie/dublin/houses-for-rent/dublin-4/south-dock-street-ringsend-dublin-4-dublin-2064011/

2 bed, Donnybrook 1850 https://www.daft.ie/dublin/houses-for-rent/donnybrook/52-donnybrook-manor-donnybrook-dublin-3113682/

There is significant pressure coming down on apartments at this point, particularly those with 1/2 beds prices at or close to 2000 (with the exception of new builds/GCD places). We are looking at prices achieved back in 2016 at this point, which are continuing to fall. It took 3 years to get to 2019 levels and I do not see how it will take under a year to get even close to those levels from what we currently see. A key factor in inflating rental prices is immigration and continued job growth; both of which are muted for another 6 months at least, after which, who knows what will happen.

The 3 beds there should be attractive to many in that price range. I agree with you re 1/2 bed apts but I would say that even in GCD serious downward pressure is coming. I am noticing nice places now crop up in Ballsbridge for less than 2k (for a 2 bed) and are sticking around. Re new builds I think these are still looking for prices that are almost pre-Covid and if they don't adjust they will spend another 6-8 months lying vacant.

Interesting that you think it is back at 2016 prices. I would have thought it was still higher but I don't have anything to compare it with.

Manion

cgcsb wrote: »

His claims of rents leveling out ignore the balooning availability on the daft website. As other posters point out everyone in the world has inherent biases. Bill Gates will probably tell you that bing maps are better than google, but as an intelligent human you have the ability to take that view into account and form your own view rather than blindly regurgitate what someone, who undoubtedly knows their business, tells you.

A lot of threads on this forum go down the road of my side, your side "I recon'ing". You'll note I haven't regurgitated anything, blind or otherwise. However some of the posts here seemed to default to assuming more than a bias. To dismiss the daft reports from Ronan Lyons out of hand simply because they come from a daft employee is I think very disingenuous and just as flawed as blindly accepting it. The over the top criticism of the report as unreadable and nonsense smacks of the same mentality we currently see with the US elections. Crying fraud, corruption not based on facts but rather because the narrative being support is one they disagree with. The analyst provided 27 pages to support his conclusions. Obviously there is bias in there both in terms of a limited dataset (daft.ie) and also what he chooses to emphasis versus what he doesn't, it doesn't mean the guy is a bought and sold mouth piece.

Anyway, you assert he hasn't given proper consideration to the supply side and how it impacts rental prices but page 4 makes it extremely clear there is a negative correlation between supply and rent change. It really couldn't be stated any more clearly.



pg 4 of the report

The respite in Dublin’s rental sector is down to
Covid-19, which has brought about a once-off
redistribution of a couple of thousand properties from
the short-term lettings segment to the long-term rental
segment. As welcome as these are for those now living
in them, they are a finite resource and that, combined
with depressed migration into the city, has meant that
rents in the third quarter of 2020 were 0.8% lower than
a year previously, the first time in almost a decade that
rents fell in the capital

It's fine and necessary to critique the analysis on it's merits but where is what he is saying flawed? I need to make some decisions shortly and I'm genuinely interested in understanding the real current state of play of the housing market. I've looked a numerous sources including the excellent web scraping dataset provided earlier and official sources, them all paint similar narratives to varying degrees of emphasis.

Ozark707

Manion wrote: »

I need to make some decisions shortly and I'm genuinely interested in understanding the real current state of play of the housing market. I've looked a numerous sources including the excellent web scraping dataset provided earlier and official sources, them all paint similar narratives to varying degrees of emphasis.

One thing I would take issue with that chart he produced is that it infers that we need to see supply hit 4k levels before rents decrease. We are now at approx 3k and have seen huge decreases since Covid struck in 1/2 bed apts at least. I am not as well versed on other categories but I would have thought they might have also come down. I have not seen such value in the rental market in a long long time.

Claw Hammer

It was clear when rents were rising in the early stages that rises began in one segment of the market there followed a ripple effect through all other sectors. As people find themselves priced out of one segment they move to another so an individual who finds that one beds are too expensive may opt to share a two bed thus putting upward pressure on 2 beds.
The market is now unwinding from a high. The reverse will now happen. People who previously compromised will now move to something which more closely matches their requirements.
There is thus a game of musical chairs going on. Until the new supply is absorbed there will be a continual churn with prices dropping ever downwards.

Manion

Ozark707 wrote: »

One thing I would take issue with that chart he produced is that it infers that we need to see supply hit 4k levels before rents decrease. We are now at approx 3k and have seen huge decreases since Covid struck in 1/2 bed apts at least. I am not as well versed on other categories but I would have thought they might have also come down. I have not seen such value in the rental market in a long long time.

I think that is fair and unfair.

It's a fair critique because but failing to separate the plot into different categories of property times a behaviour is hidden or masks for one specific category. It could be argued that's an editorial decisions and getting a macro view of the entire market is valuable.

Its also unfair because it's literally the historic data and plotted as a scatter plot to illustrate range. He doesn't have and regression analysis in the document that I saw, it's all literally descriptive.

AssetBacked2

Manion wrote: »

A lot of threads on this forum go down the road of my side, your side "I recon'ing". You'll note I haven't regurgitated anything, blind or otherwise. However some of the posts here seemed to default to assuming more than a bias. To dismiss the daft reports from Ronan Lyons out of hand simply because they come from a daft employee is I think very disingenuous and just as flawed as blindly accepting it. The over the top criticism of the report as unreadable and nonsense smacks of the same mentality we currently see with the US elections. Crying fraud, corruption not based on facts but rather because the narrative being support is one they disagree with. The analyst provided 27 pages to support his conclusions. Obviously there is bias in there both in terms of a limited dataset (daft.ie) and also what he chooses to emphasis versus what he doesn't, it doesn't mean the guy is a bought and sold mouth piece.

Anyway, you assert he hasn't given proper consideration to the supply side and how it impacts rental prices but page 4 makes it extremely clear there is a negative correlation between supply and rent change. It really couldn't be stated any more clearly.



pg 4 of the report




It's fine and necessary to critique the analysis on it's merits but where is what he is saying flawed? I need to make some decisions shortly and I'm genuinely interested in understanding the real current state of play of the housing market. I've looked a numerous sources including the excellent web scraping dataset provided earlier and official sources, them all paint similar narratives to varying degrees of emphasis.

On the bit in bold, you need to remember that this is Boards.ie, not a property experts forum so of course there is going to be a bias. You need to accept that when posting and engaging with posts.

My issue with the Q3 rental report is set out above; that it does not compare to the previous quarter or even Q1 (since they did not report on the previous quarter). In addition, why do a quarterly report and compare to the previous year? That should be what the annual reporting is for. At the very least, compare to the previous year as well as the previous quarter.

As you have noted, the data set collated and posted up every so often is just the data with no comparisons. It is clear that rental prices in the 8 months of lockdowns are down 15-20% in Dublin; from Q1 to Q3 2020 comparisons this is demonstrated in the data on that link. However, due to the way Daft.ie report on the data, you would be forgiven for thinking not a lot has changed in the rental market this year when compared to last year. The thing is, portraying an image that things are relatively unaffected by covid is of benefit to landlords as opposed to tenants. However, by mis-conveying the data, this is harmful to landlords as opposed to tenants.

Manion

Looks at relative registration dates. Yes, please do tell me how this site works. There is a current affairs forum for reconing.


To address your issues: Lack of comparison to Q2 doesn't mean the report is untrustworthy, or the data for Q3 is wrong. There could be a lot of reasons for the lack of Q2 report, including that there was may, June and July reports which effectively covered that period. Properties tend to be let on a yearly basis so a YoY comparison is valuable. If you wish to do a comparision to Q1 2020 the report is here, they make it easy to do the comparison yourself.

https://www.daft.ie/report/2020-Q1-rental-daftreport.pdf

Average rental cost at the end of Q1 2020 for north dublin city was 1,974.

Average rental cost at the end of Q3 2020 for north dublin city was 1,943

This corresponds to a 1.57% drop

https://www.daft.ie/report/2019-Q4-rental-daftreport.pdf

Average rental cost at the end of Q4 2019 for north dublin city was 1,950.

Average rental cost at the end of Q3 2020 for north dublin city was 1,943.

This corresponds to a 0.3% drop.

These are the facts, and boards.ie being a discussion forum where people who are both experts and non experts share opinions about topics try to predict what happens next is fine but you don't get to just make up that rental prices have fallen 20% and the failure of main stream media economist to report on this is corruption and bias.

Marius34

Manion wrote: »

Looks at relative registration dates. Yes, please do tell me how this site works. There is a current affairs forum for reconing.


To address your issues: Lack of comparison to Q2 doesn't mean the report is untrustworthy, or the data for Q3 is wrong. There could be a lot of reasons for the lack of Q2 report, including that there was may, June and July reports which effectively covered that period. Properties tend to be let on a yearly basis so a YoY comparison is valuable. If you wish to do a comparision to Q1 2020 the report is here, they make it easy to do the comparison yourself.

https://www.daft.ie/report/2020-Q1-rental-daftreport.pdf

Average rental cost at the end of Q1 2020 for north dublin city was 1,974. Average rental cost at the end of Q3 2020 for north dublin city with 1,943

This corresponds to a 1.57% drop

https://www.daft.ie/report/2019-Q4-rental-daftreport.pdf

Average rental cost at the end of Q4 2019 for north dublin city was 1,950. Average rental cost at the end of Q3 2020 for north dublin city with 1,943.

This corresponds to a 0.3% drop.

These are the facts, and boards.ie being a discussion forum where people who are both experts and non experts share opinions about try to predict what happens next is fine but you don't get to just make up that rental prices have fallen 20% and the failure of main stream media economist to report on this is corruption and bias.

For some, It's not about who and how the reports are created, but it's about what results they want to see. You would have a hard time for reasonable fact based discussion.
Example which had a big support on Daft report, due to favorable numbers:
https://www.boards.ie/vbulletin/showpost.php?p=113052417&postcount=3529

AssetBacked2

Manion wrote: »

Looks at relative registration dates. Yes, please do tell me how this site works. There is a current affairs forum for reconing.


To address your issues: Lack of comparison to Q2 doesn't mean the report is untrustworthy, or the data for Q3 is wrong. There could be a lot of reasons for the lack of Q2 report, including that there was may, June and July reports which effectively covered that period. Properties tend to be let on a yearly basis so a YoY comparison is valuable. If you wish to do a comparision to Q1 2020 the report is here, they make it easy to do the comparison yourself.

https://www.daft.ie/report/2020-Q1-rental-daftreport.pdf

Average rental cost at the end of Q1 2020 for north dublin city was 1,974.

Average rental cost at the end of Q3 2020 for north dublin city was 1,943

This corresponds to a 1.57% drop

https://www.daft.ie/report/2019-Q4-rental-daftreport.pdf

Average rental cost at the end of Q4 2019 for north dublin city was 1,950.

Average rental cost at the end of Q3 2020 for north dublin city was 1,943.

This corresponds to a 0.3% drop.

These are the facts, and boards.ie being a discussion forum where people who are both experts and non experts share opinions about topics try to predict what happens next is fine but you don't get to just make up that rental prices have fallen 20% and the failure of main stream media economist to report on this is corruption and bias.

I didn't say the data was wrong, where are you getting that from in my posts? Are you not reading them? I have stated that the way the data is being portrayed is disingenuous.

A perfect example is what you posted above;

Average rental cost at the end of Q4 2019 for north dublin city was 1,950.

Average rental cost at the end of Q3 2020 for north Dublin city was 1,943.

This corresponds to a 0.3% drop.

https://bl.ocks.org/pinsterdev/raw/234b4a5310a14a32e080/

Q4 2020 -> Q3 2021
2005 -> 1631 - average price in Dublin for 1 bed apartments; 19% drop.
2510 -> 2021 - average price in Dublin for 2 bed apartments; 20% drop.
2005 -> 2021 - average price in Dublin for 2 bed house; 1% increase.
3301 -> 2741 - average price in Dublin for 3 bed apartments; 17% drop.
2510 -> 2554 - average price in Dublin for 3 bed house; 2% increase.

From reading the Daft reports you would miss the above price drops based on how they report the same data.

Edit: To add, there is a reason I put the number 2 at the end of my username as I deleted the old account. But again, you attack the poster rather than the data as it doesn't fit with your own bias.

Smouse156

I think forget the Daft report and just look at fundamentals:

1) WFH will not go away but it will also not take everyone out of Dublin. It will effect demand to what degree is unclear but it will have some effect.

2) Hospitality & Retail sectors will not be back to full employment for the foreseeable future. All the lost jobs will not immediately recover. Most of these people were renters.

3) There has been further delivery of rental supply since the start of the year.

4) All the proposed office take ups, new jobs etc has been put on hold baring a few sectors as businesses will hoard cash until we are well out of this.

Given all the above, the 2019 picture will not be back until 2022 at the earliest, possibly 2023 so therefore I just see plenty supply and price drops to fill them in the forceable future. Those looking for 2019 prices will wait with empty properties.

Woah

Completely anecdotal but I am currently looking for a room in a house share and prices don't seem to have come down at all. Landlords don't seem to be willing to drop the rent if they have current tenants in the house even if one room is vacant as they expect the other tenants to make up the extra rent.
Have experienced this myself as we can't fill the vacant room so have to call it quits and find somewhere new.

Quality of some of the rooms available is still as shocking as ever too sadly but yeah some ok deals if you are looking for a new tenancy in a one or two bed.

Manion

It is clear that rental prices in the 8 months of lockdowns are down 15-20% in Dublin

Ok, so when you said that rental costs had decreased by 20% over the last 3 quarters, what you meant to say was for a specific subsection of the market. At least the daft report makes it clear at each stage what properties are in scope or not in scope. Your phrasing was deliberately ambiguous btw, by your logic someone could equally claim that rental prices have increased by 2%. It's clear in the report what the top line statistics represent. I see no evidence of malfeasance on the part of Ronan Lyons as you claim. You seem to view the failure to elevate statistics of one small part of the market to a headline statistic is disingenuous, but the data you reference is in the report as well, you just need to read it to see. The fact that we can even have this conversation with real numbers is testament to the quality of the daft.ie report.

Average rental cost at the end of Q3 2020 for a 1 bed apartment in Dublin 3: Euro 1,573

Average rental cost at the end of Q4 2019 for a 1 bed apartment in Dublin 3: Euro 1,628

It's still only a 3.3% decrease for this subsection of the market. I'm not sure what you think Ronan Lyons is trying to hide here when the data is provided and can be sliced and diced any way you want. I'm not arguing with you about whether or not this is a decrease in one part of the market, I'm challenging the idea that there is some underhanded activity going on here on the part of daft.ie. I feel these reports are simply amazing and furthermore provided a much more granular level of detail than https://bl.ocks.org/pinsterdev/raw/2...310a14a32e080/ though I do also think the insights from that site are valuable.

Edit: Anyway, the original questions has been satisfied, I now understand where the complaining comes from.

Manion

Smouse156 wrote: »

I think forget the Daft report and just look at fundamentals:

1) WFH will not go away but it will also not take everyone out of Dublin. It will effect demand to what degree is unclear but it will have some effect.

2) Hospitality & Retail sectors will not be back to full employment for the foreseeable future. All the lost jobs will not immediately recover. Most of these people were renters.

3) There has been further delivery of rental supply since the start of the year.

4) All the proposed office take ups, new jobs etc has been put on hold baring a few sectors as businesses will hoard cash until we are well out of this.

Given all the above, the 2019 picture will not be back until 2022 at the earliest, possibly 2023 so therefore I just see plenty supply and price drops to fill them in the forceable future. Those looking for 2019 prices will wait with empty properties.

The daft report is backwards looking and lagging, an attempt to describe and partially explain historic changes. Is it only so useful in terms of predicting the future. I will say that I think you should factor in the recent announcement of a vaccine being found into the fundamentals. It is bound to affect human behaviour and expectations of the future.

cgcsb

Manion wrote: »

The daft report is backwards looking and lagging, an attempt to describe and partially explain historic changes. Is it only so useful in terms of predicting the future. I will say that I think you should factor in the recent announcement of a vaccine being found into the fundamentals. It is bound to affect human behaviour and expectations of the future.

Pfizer is still months away from getting it approved, 90% is still not effective enough for mass vaccination. Once it gets approved production will start, no doubt Ireland will be a significant hub for this production, and still it'll be years before there are enough doses to give to even half the Irish population. The crisis will take us to the end of 2021 at least, how we deal with it (lockdowns etc.) might evolve though. There's not going to be a return of students in H1 2021 for a start, migration will still be effectively 0 and if you take it that all leases last one year at most, by March/April 2021 leases will have been signed / renegotiated in a period of WFH.

Manion

That's all fair speculation, nevertheless it is a shift in one of the fundamentals. It looks certain now that we will have a vaccine. How to interpret that it another question.

Smouse156

cgcsb wrote: »

Pfizer is still months away from getting it approved, 90% is still not effective enough for mass vaccination. Once it gets approved production will start, no doubt Ireland will be a significant hub for this production, and still it'll be years before there are enough doses to give to even half the Irish population. The crisis will take us to the end of 2021 at least, how we deal with it (lockdowns etc.) might evolve though. There's not going to be a return of students in H1 2021 for a start, migration will still be effectively 0 and if you take it that all leases last one year at most, by March/April 2021 leases will have been signed / renegotiated in a period of WFH.

90% is more than effective enough for mass vaccination! They’ll be rolling this out as soon as possible, however, it will take time to get to everyone

beauf

AssetBacked2 wrote: »

O... However, due to the way Daft.ie report on the data, you would be forgiven for thinking not a lot has changed in the rental market this year when compared to last year. The thing is, portraying an image that things are relatively unaffected by covid is of benefit to landlords as opposed to tenants. However, by mis-conveying the data, this is harmful to landlords as opposed to tenants...

I would think bother renters and Landlords would test the water and see what they could get. Not cling to a report in a media which is open to interpretation.

Ozark707

beauf wrote: »

I would think bother renters and Landlords would test the water and see what they could get. Not cling to a report in a media which is open to interpretation.

Yes and one only has to have a quick look at daft now and you will see FAR better value out there if you were comparing against anything in the last few years. The market adapts pretty quickly (unless you are a REIT of course but they seem content to let properties vacant forever).

I was speaking to someone recently who relocated here at the end of the summer and was complaining about the rent they had to pay (2.1k for a 2 bed in D4)...when I told him he would have been paying probably 2.5k pre Covid he cheered up.