Rent prices

jane82 · 18-02-2014 12:06PM #1

Jaysis they re raising. Is there any plan to get them back down abit. Ive never seen them this high.
What happens if it gets to a stage where average working people cant afford rent.
We arnt far off two minimum wage families having to double up in the one apartment at these prices.
For the first time since the crash I feel.I may even be concerned enough to join the protesting people.

biko · 18-02-2014 12:07PM

are too damn high

subway · 18-02-2014 12:07PM

rent is dead money, buy a house

biko · 18-02-2014 12:08PM

Is that you Bertie?

Penny Tration · 18-02-2014 12:08PM

Supply and demand. There's a lack of rental properties in some areas, so those areas can command a higher rent because there aren't enough properties for all of the people who need them.

Sucks, but it happens.

Michael D Not Higgins · 18-02-2014 12:09PM

https://www.daft.ie/report/
11% rise last year in Dublin

Turtyturd · 18-02-2014 12:10PM

subway wrote: »

rent is dead money, buy a house

Would agree with this.....but don't just buy one OP. Buy a second one and lease it out, for a low amount obviously.

jane82 · 18-02-2014 12:11PM

Would nama not rent a few houses out? Do they really have a load of good ones?

For Forks Sake · 18-02-2014 12:12PM

Turtyturd wrote: »

Would agree with this.....but don't just buy one OP. Buy a second one and lease it out, for a low amount obviously.

And then some Bulgarian property. Top, top investment.

Dravokivich · 18-02-2014 12:12PM

We were looking for a place to rent recently and were lucky we got a good place at far lower than the going rate in the area. The only affordable places would have meant upwards to 3 hours a day commuting to work for me and the additional costs in comparison to the rent would have been negligible.

jane82 wrote: »

Would nama not rent a few houses out? Do they really have a load of good ones?

Nama are there to protect the property market by holding back on the amount of property available. It's the only way they can get as high a return as possible on the properties they hold, which is their primary focus.

everdead.ie · 18-02-2014 12:13PM

jane82 wrote: »

Would nama not rent a few houses out? Do they really have a load of good ones?

Nama is already the biggest landlord in the country it makes hundreds a million a year in rent money.

For Forks Sake · 18-02-2014 12:13PM

jane82 wrote: »

Would nama not rent a few houses out? Do they really have a load of good ones?

Not in areas that anyone wants to live in tbh.

For Forks Sake · 18-02-2014 12:14PM

everdead.ie wrote: »

Nama is already the biggest landlord in the country it makes hundreds a million a year in rent money.

Most of that is off commercial property.

jane82 · 18-02-2014 12:14PM

So will the builder have to get building again or what?

everdead.ie · 18-02-2014 12:15PM

For Forks Sake wrote: »

Most of that is off commercial property.

My firt three apartments in Dublin were all Nama owned down in the IFSC. there are residential properties as well not sure how many "family homes" ie three four bed homes/apartments they have though. They seem to be mostly one and two beds.

everdead.ie · 18-02-2014 12:30PM

jane82 wrote: »

So will the builder have to get building again or what?

Ya the issue is at the moment in Dublin only a third of the necessary housing is being built a year. It won't be long before the Government introduce tax schemes to get more builders building again to try and alleviate the problem.

It will have a bright side a number of people will be taken off the live register and it should bring rent and the cost of buying down as supply meets demand.

The obvious issue is if it will be handled correctly this time with proper planning and every completed house need to be inspected to see if it meets standards.

The tax relieve should also only be brought into areas where housing is needed and not just because there is an empty field somewhere.

UCDVet · 18-02-2014 01:26PM

Not sure why anyone is surprised by this. Of course rents are going to go up!

darkpagandeath · 18-02-2014 01:36PM

Something something rent allowance propping up minimum rental price ..... No need to lower price catch 22

jane82 · 18-02-2014 01:43PM

darkpagandeath wrote: »

Something something rent allowance propping up minimum rental price ..... No need to lower price catch 22

But thats the thing. Its way higher than rent allowance in dublin now. People on R A are having to pay the difference.
Its driving people into serious poverty.

Inspector Coptoor · 18-02-2014 01:45PM

Too many 1 bed shoe box apartments in South Dublin, I live in one.
Great address/location but that's about it.

I'm lucky in a way.
Living with my fiancée & we're paying €825 a month so my outlay is only €412.50.
In the same place now almost 4 years so that's €40k gone, but, the "going rate" for a similar apartment in our block is now €1100-€1150, so essentially we're saving €3600 on rent that can go towards wedding/house deposit.

However, had we bought a few years ago, the mortgage would be around €1600 a month and we'd be in negative equity.

Hard to know what to do in the short to medium term.

average_runner · 18-02-2014 01:49PM

Where would be living to have a mortage of 1600 a month?? We bought a 4 bed for 450,000, 100,000 cash and a tracker. Paying 800 a month now for a nice big house!

Inspector Coptoor · 18-02-2014 01:52PM

Given a mortgage of €300k over 30 yeRs would cost you €600k, you're looking at €1650 a month.

When did you buy?
Where?
Just look at the current prices in south Dublin. I'm not even talking about D4 & Blackrock, I'm talking Stilorgan & Leopardstown.
€400k for a semi-d with 3 bedrooms

darkpagandeath · 18-02-2014 01:58PM

jane82 wrote: »

But thats the thing. Its way higher than rent allowance in dublin now. People on R A are having to pay the difference.
Its driving people into serious poverty.

That's kind of my point if there was no guaranteed price they could get and use as a minimum they would actually have to let the market dictate the price. And prices could lower, Guaranteed RA price props up the price artificially.

pctosh · 18-02-2014 01:59PM

Supply and demand
Shocking amount of immigrants

Alf Veedersane · 18-02-2014 01:59PM

We got lucky. We must've got in at the perfect moment or we'd still be renting.

Renting is only dead money if you can affford to buy yourself a house you plan on living in for 10+ years, IMHO.

I never did see the attraction at scrambling to pay a mortgage every month for the next 25-30 years

average_runner · 18-02-2014 02:00PM

Inspector Coptoor wrote: »

Given a mortgage of €300k over 30 yeRs would cost you €600k, you're looking at €1650 a month.

When did you buy?
Where?
Just look at the current prices in south Dublin. I'm not even talking about D4 & Blackrock, I'm talking Stilorgan & Leopardstown.
€400k for a semi-d with 3 bedrooms

Just before the trackers went. Doesnt matter where i bought, the house value was 450 at the time.

Rent is dead money, you get nothing in return, buying is not, even if your house only ends up with a value of 2000 euro, you still get something that is yours to do what you want to it and not wonder will you have to leave after lease is up.

Only buy what you can afford, but think of the future, say 2 kids and one of ye lose a job. Calculate the worst scenario

anncoates · 18-02-2014 02:01PM

Apparently they just need to repossess all the damn houses and then the market "will find its level" and then rent will be €5 a week and we can all pick up a gaff in Rathgar for €500.

Alf Veedersane · 18-02-2014 02:02PM

average_runner wrote: »

Only buy what you can afford, but think of the future, say 2 kids and one of ye lose a job. Calculate the worst scenario

So...buy a hovel with a mortgage the same as your rent?

average_runner · 18-02-2014 02:04PM

Alf Veedersane wrote: »

So...buy a hovel with a mortgage the same as your rent?

If thats what you can afford when then yes. We don't want to go back to the situation we previously had.

Can get a good size 2 bed for 160,000 outside the city like Lucan etc

Inspector Coptoor · 18-02-2014 02:05PM

average_runner wrote: »

Just before the trackers went. Doesnt matter where i bought, the house value was 450 at the time.

Rent is dead money, you get nothing in return, buying is not, even if your house only ends up with a value of 2000 euro, you still get something that is yours to do what you want to it and not wonder will you have to leave after lease is up.

Only buy what you can afford, but think of the future, say 2 kids and one of ye lose a job. Calculate the worst scenario

It depends on your viewpoint.
I'm getting a service - ie, shelter, at well below the market value.

Don't want to go into too much personal details but we're both in secure jobs with decent salaries.
Once the wedding is out of the way at the end of the year, we'll start focussing on getting a house/mortgage.

Inspector Coptoor · 18-02-2014 02:06PM

average_runner wrote: »

If thats what you can afford when then yes. We don't want to go back to the situation we previously had.

Can get a good size 2 bed for 160,000 outside the city like Lucan etc

I currently cycle to work, going in and out to Lucan would make that commute harder.
My fiancée needs to be located close to where we are now due to the on call nature of her job.
It's not as simple as move to the periphery of Dublin

Rent prices

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