Rents up 82% in Ten years!

Quitelife

Todays front page of Independent on about those working and living in poverty and rents generally up 82% in past ten years.

If your a low paid -Minimum wage worker paying rent is it worth it?

Be better off on welfare with HAP paying your rent or do you get HAP if on minimum wage or up to what amount earnings?

Going like England, calling to Food Bank on way home from work.

StevenToast

Sure there are posters on boards telling people the crash is coming for the last 5 years, hold off on buying....

Any gains from any impending "soft landing" have been well eroded by being stung by rent!

Buy a house if you like it and can afford it....

Stop prìcking around renting waiting for a bust!

Pissy Missy

I'm on disability and there's no way I could afford to rent and many landlords are weary of engaging in HAP. Better to keep looking for a better paying job, Nua health care/lidl for example, pay is above minimum wage

ELM327

rents up 82%, right, and what's the cumulative/compound inflation increase in that time, probably about 40% at least. And that's coming from 10 years ago still in the crater of the 2008-2012 crisis? Yes I'm good with that

DownByTheGarden

They pick specific periods for dramatic effect in headlines.

Whats it up in the last 20 years or even the last quarter century?

Mrs OBumble

You can get HAP while working. Income limits are based on area and family size.

That is, if there are are landlords who have not been driven out od business by government policies.

2ndcoming

https://www.boards.ie/discussion/comment/119803464#Comment_119803464

Far more than that... my brother was paying £40 a week for a one bed in the Dublin suburbs in 1996...

I was paying €800 a month in the same suburb in 2007.

Mad_maxx

https://www.boards.ie/discussion/2058269412/rents-up-82-in-ten-years

If you check rental price chart across Europe in past ten years, Ireland is mid table

tom1ie

Would this be anything to do with lack of supply and as a previous poster mentioned the compounding of inflation over time?

Keep pushing all the landlords out of the market- don’t be surprised there’s a lack of places to rent with high rates for those that do manage to get a place to rent.

DownByTheGarden

https://www.boards.ie/discussion/comment/119803475#Comment_119803475

I remember I was paying £55 a week for a bedsit in Rathmines in 1996. I was getting paid £315 pw.

In 2007 I was paying €1150pm for a 1 bed apartment in Swords. But at least I was getting paid about €3000pm by then.

How times have changed.

Quitelife

https://www.boards.ie/discussion/comment/119803566#Comment_119803566

Even in this example you went from 17% of your income going on rent to 38% meaning your disposable income reduced a lot

lisasimpson

Its ok. Seems to be a big exit to australia in the new yr where everything is rosey rents will fall here 🙄

ballyharpat

https://www.boards.ie/discussion/comment/119803902#Comment_119803902

Yeah, the % may have increased, but so did quality of life, from bedsit, to one bedroom apartment. the disposable income would have increased also, along with the wage increase.

A like for like, would possibly be someone in the same place in their career now, compared to where downbythe garden was, and them renting a room in a house pehaps, since the government decided to get rid of bedsits for some stupid reason.

tom1ie

https://www.boards.ie/discussion/comment/119803949#Comment_119803949

Climate change and the higher cost of living in Australia might send people back……

DownByTheGarden

https://www.boards.ie/discussion/comment/119803902#Comment_119803902

The quality of the accommodation was infinitely better though too. Though my days in that bedsit were some of the best days of my life. I actually wouldnt have afforded anything better then anyway.

DubCount

Just to note 82% growth over 10 years represents a compound annual growth rate of about 6.2%.

Also to note, the 10 year period chosen would exclude the period immediately after 2008 when rents fell significantly.

With all the government interference in the housing market in the last 10 years we're lucky its not higher.

Quitelife

Its mad how couples with one earner in modest jobs 30 years could buy a house and rear a family of 4/5/6 whilst now both partners work, they cant afford a house to purchase or have a family greater than 1 ior 2 max!

tom1ie

https://www.boards.ie/discussion/comment/119804757#Comment_119804757

It’s not that mad when you think about it.

Yes the money a household makes has increased with two people working but the housing market has adjusted to absorb that “extra” money.

jimmybobbyschweiz

https://www.boards.ie/discussion/comment/119804757#Comment_119804757

You will breed nothing, own nothing and be happy.

dennis72

07 to 13 rents fell by up to 50%, new standards enforced ie 4 ring hobs in studios highest in eu and introduction of new taxes all have impacted current market

yawn yawn

9 years 84% is a great headline fact is 1/2 goes back to the government unless ur a reit.

Off topic met a young couple on a plane 2 wks ago on their way to Oz tell how hard it was to get a place and more expensive than ireland too.

Government interference to protect a few social that most LLs dont want because of high risk, instead of housing them proper makes all private tenants pay more.

Claw Hammer

https://www.boards.ie/discussion/comment/119804757#Comment_119804757

Blame equal pay!

Mrs OBumble

https://www.boards.ie/discussion/comment/119804757#Comment_119804757

Yah, but then it was ok to have single glazing, 3brms + 1 bathroom for that family of 6. One car. One telephone. One TV with government provided free-to-air channels. No computers in the house.

Try that today.

Mad_maxx

https://www.boards.ie/discussion/comment/119803566#Comment_119803566

Urban economy far more important today and was more rural based relative to other countries in 1996

Mad_maxx

https://www.boards.ie/discussion/comment/119804757#Comment_119804757

Houses back then were like cow sheds relative to construction regs today

DownByTheGarden

https://www.boards.ie/discussion/comment/119808472#Comment_119808472

I had a conversation some time back where someone said that there should be one job per household allowed and that would sort out house prices and rents :)

You are right though. If you are single you are not in the competition these days, simply because 95% of people looking to buy houses are couples. And one income rarely competes with 2 incomes.

DBK1

https://www.boards.ie/discussion/comment/119804757#Comment_119804757

30 years ago foreign holidays were rare, there were no bills relating to mobile phones, internet, computers, sky tv etc. Houses were a lot smaller than they are now and a lot lower standard than todays housing.

There certainly wasn’t as many people eating out in restaurants, buying bottled water, take-away coffee’s and so on. Kids were still being reared with hand me downs in a lot of houses.

If you’re happy to live identical to how people did 30 years ago I’d safely say you’d be a lot better off now than we were then. But life has moved on and people want to move with it, that all comes at a cost.

iguy

My brother and partner are still living in the same area since 2011, they live in a converted 3 storey building (townhouse) subdivided into 7 apartments of 3 different styles, for the first year they lived in a top floor apartment at the front of the building, there are 2 like that, they are the most basic of the 3 styles, kitchen and living area and separate bedroom of which was actually bigger than the rest of the apartment combined due to the layout and bathroom, electric heating 237.50 euro per month at the time, landlord now commands 625 per month, then they decided to upgrade to an apartment to the rear, as it became available, kitchen and living area, bathroom, separate utility room, and there was a small room just under 4x4foot which was used as the home office, the bedroom was a normal, size easier to heat, also a balcony, proper and all 4 chairs and table, with a see through type of shutter to pull down when it rained heating was gas, except water for sinks was electric immersion, that apartment was 245 per month then years ago, now landlord commands 715 per month for those style of apartment, they only stayed in that apartment for spring/summer/early autumn as the best apartment became available, the only ground floor apartment, the whole area of the front and back floorplan, even had a sun room and courtyard and back door, obviously the upperfloors don't have a back door, it had a generously sized kitchen, desperate dining room separate sitting room, utility room, 2 bathrooms one including a bath, other aparts only one bathroom and no bath, and a nice office type of room that could have been a bedroom, this apartment has two bedrooms and heating was in this was oil, with immersion for when oil heating isn't required, approximately 9 years ago the landlord only charged 272.50 per month, my brother and partner still live there and now they pay 1125 per month, and it wouldn't be in their interests to move now, as other 2 beds in the area actually go for over 1600 per month and one beds way upwards of 1200, 3 beds property 1750 and what I live in a four bed 1875, and we don't live in a commuter town, nowhere near motorways or trains or even a good bus services, the place I'm in was 10 or so years ago probably only rented out for around the 500 euro mark, Jeepers my sister for a time just told me 12 years ago she rented a five bed house in Mountmellick in Laois for 460 Euro (I don't know what it is now, probably hitting the 2k mark), which is actually near enough to the main town, good bus services, less than 15 mins from train station, and get this the property at the time was actually advertised for 525 but the estate agent asked the landlord for a discount because my sister was at 2 minds whether or not she wanted the place, it was surplus to requirement as in she only needed a 3 bedroomed property, now the estate agents and landlords are trying to screw every last cent out of us, charging for pets and everything, my sister had 2 dogs a cat, a pair of rabbits, guinea pig and hamster along with her 2 kids and partner at the time, estate agent and landlord didn't care what she had, just nowadays they are charging on purpose,

Next thing people will be charged a base rent and then another crazy amount per head....

82% my backside, 100,150,175,200,300,400 etc, etc percent increases sounds more realistic!!!