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12-09-2019, 11:57   #3571
beauf
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Behind Paywall. What is this report, its probably published somewhere else.

I don't think anyone will be surprised by this.

https://www.independent.ie/business/...-38491575.html

Last edited by beauf; 12-09-2019 at 12:04.
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12-09-2019, 12:01   #3572
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Origin is CSO

https://www.cso.ie/en/csolatestnews/...september2019/

One there on Population also

https://www.cso.ie/en/releasesandpub...atesapril2019/

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12-09-2019, 12:04   #3573
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Those are asking rather than achieved prices.
Many viewings are now like tumbleweed- sure, desirable areas have people fighting for properties- but many areas are no longer experiencing the demand that many landlords seem to think is their right......... Asking prices- and achieved prices- are two entirely different kettle of fish...........
Hence I said asking prices. Do you have a better indicator of rental rates achieved?
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12-09-2019, 12:10   #3574
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Hence I said asking prices. Do you have a better indicator of rental rates achieved?
RTB Annual report- has the stats as reported to it by landlords when registering tenancies. Its as good as it gets. It'll be more accurate once the annual updating of tenancies comes into effect- however, that will be the cold hard data source that can't be disputed (once its available- its now in arrears of up to 3 years).
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12-09-2019, 12:15   #3575
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https://www.irishtimes.com/business/...ears-1.4016008

First decline in house prices (on an annual basis) in Dublin since October 2012.
What is happening in the past few months is a lot of what I suppose are marginal house coming on to the market, poorly maintained in some way, same kitchen and bathroom since the 80s. A sure indication that sellers are afraid of missing the top of the market and are selling now.
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12-09-2019, 12:16   #3576
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Maybe I'm not seeing it, but those reports don't seem to mention how this aligns with population growth and immigration and emigration..

... Which is the demand. Because the shortage is not simply a supply issue. It's a increasing demand issue.
Daft just report the figures they have.
Maybe if they published views per ad or correspondence per ad a demand curve could be indicated.
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12-09-2019, 12:20   #3577
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What is happening in the past few months is a lot of what I suppose are marginal house coming on to the market, poorly maintained in some way, same kitchen and bathroom since the 80s. A sure indication that sellers are afraid of missing the top of the market and are selling now.
Thats just one aspect of it.
The largest percentage falls in Dublin prices are in the >600k+ price brackets- not ye poorly maintained buy-to-let units that landlords are offloading. In the secondhand segment- executor sales are (according to estate agents) still comprising over half of all sales.
Its a complicated market- its actually getting more interesting- and potentially at the higher ends of the market, there may be bargains to be had.
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12-09-2019, 12:27   #3578
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What is happening in the past few months is a lot of what I suppose are marginal house coming on to the market, poorly maintained in some way, same kitchen and bathroom since the 80s. A sure indication that sellers are afraid of missing the top of the market and are selling now.
A house like this is probably from an executor sale, and has probably take a year or two to get through the legal process. The high cost of refurbishment, difficulty in getting builders, probably means that more are deciding to offload at what most people see as some form of peak price. Its not worth doing them up to rent, or increase the sale price. There isn't enough of a margin in it. If you want it to live in yourself, and like the aspect and location. Only then does it become worthwhile to put the money into it. Personally I've been keeping an eye for places with a garage or space for a workshop. You really only get that in older places.
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12-09-2019, 12:40   #3579
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A house like this is probably from an executor sale, and has probably take a year or two to get through the legal process. The high cost of refurbishment, difficulty in getting builders, probably means that more are deciding to offload at what most people see as some form of peak price. Its not worth doing them up to rent, or increase the sale price. There isn't enough of a margin in it. If you want it to live in yourself, and like the aspect and location. Only then does it become worthwhile to put the money into it. Personally I've been keeping an eye for places with a garage or space for a workshop. You really only get that in older places.
Not around here, and maybe badley maintained is an awkward way to put it but their is definitely more houses of a certain type comming on the market another type would be the small 3 bed with awakward garden or something else that make it a bit marginal in someway.
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12-09-2019, 12:46   #3580
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It's obviously the main reason due to uncertainty in the market. Peaked and Bexit..

Also our population is aging. Fair deal scheme had more demand than expected. So it might be causing people to get rid of property before it gets consumed by fair deal.

Not worth renting old property anymore for many due to combination of factors.
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12-09-2019, 13:41   #3581
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What? Rental prices halved in a lot of case.

I viewed a two bed apartment in clontarf in 2011 for 800 euros a month, a three bed house in kilmainham for 1000, and a two bed in drumcondra for 600. That was just Dublin.

Once you went out to the commuter towns, there were 4 bedroom houses in the likes of Maynooth, Naas, Drogheda, etc renting for 800-900 a month.

Student accomodation dropped further, complexes in the likes of Cork and Limerick dropped to as low as 50 euros a week per room.

Rental prices were on the floor from 2008 for the guts of five years - your post is simply untrue.
Yes, completely correct. We came back from Canada in 2011 and went to rent a 1bed apartment off Camden St.

Asking rent was €1200, but I could see the price history on daft had dropped from €1400 2 months previous. I used that to haggle them down to €1050 per month.
Now that would be unheard of now. Rent is probably about €1400 to 1600 on that place now.
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12-09-2019, 16:34   #3582
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Daft just report the figures they have.
Maybe if they published views per ad or correspondence per ad a demand curve could be indicated.
Views per ad would be useless, sure a small number of people who have phone addiction and keep looking at the same house and refreshing could skew it, and loads of people do that kind of thing, human nature. A highly unreliable statistic.
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12-09-2019, 16:39   #3583
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Given the soaring rents that forced RPZs to be introduced, I fear this notion of rents being left be was nowhere near as widespread as you want us to believe.

Rents hit their lowest around December 2011. Between then, and RPZs being introduced in December 2016, rents had risen around 50%. By 2016 we were above peak Tiger prices.
The rpz had to come in, simple as that. Problem is it came in after the horse had bolted. In fact, much stronger was needed, but no chance of that for many reasons.
Without rent controls, many would have had to endure more huge increases they simply couldnt afford. The supply/demand ratio was ridiculously in favour of landlords, something had to be done to ensure people could afford a roof over their heads. The fact that the current and previous government caused the situation that necessitated the sticking plaster of rpz goes without saying.
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12-09-2019, 16:41   #3584
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Views per ad would be useless, sure a small number of people who have phone addiction and keep looking at the same house and refreshing could skew it, and loads of people do that kind of thing, human nature. A highly unreliable statistic.
Unless they are constantly deleting their cookies daft could account for that.

But that said I'm not how valuable views per ad are, I bought a house last year an no plans on moving anytime soon but still look on daft regularly to check local price. I click into ads that are interesting, not necessarily houses I would potentially buy, and I know a lot of people would do similar.
I would think ad views relation to actual interest in a property would have to be taken with a bucket of salt.
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12-09-2019, 16:48   #3585
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"Commenting on today's figures, Goodbody economist Dermot O'Leary said that house price inflation picked up modestly in Ireland in July, ending a 14-month run of deceleration.

"The market is a bifurcated one, with transactions and prices growing at affordable price points and falling at the premium end," he added."



https://www.rte.ie/news/business/201...operty-prices/
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