From Daft.ie’s latest report

This morning.

Daft.ie has published its Rental Price Report for the third quarter of 2017.

It shows that average rents nationwide are now 16% higher than their 2008 peak.

Read the document in full here

29 thoughts on “How Much?

  1. joke bloke

    for FG and FF .. this all translates to; business is booming .. both parties have always seen rising house prices and rents as a sign of growth, and when the public try to tell them its making life extremely difficult, they jus tthink we’re ‘moaners’

    Reply
    1. Cian

      If you look at the report (linked above) you can see this is based on a “standard methods, holding the mix of characteristics constant,” so I’d guess it’s a weighted average of 1, 2, 3 bed houses & apartments

      What you should be aware of is this all based off the current asking-price monthly rent (for the next 2 years). The actual rent being paid by people is less than this – because most people are mid-way through their lease.

      This data just pushes up the rent prices (which helps DAFT) because of this.

      Reply
      1. ahjayzis

        Doesn’t that work the other way too?

        Asking prices won’t take into account tenants outbidding each other and rent increases, right?

        Reply
      2. anne

        Do you think landlords won’t be able to get their asking prices Cian?

        Increases in rent don’t help Daft..they don’t get a percentage of the rent. Volume helps daft.. not low supply.
        Stop making poo up.

        Reply
  2. Jocky

    Yeah but everyone is on great money in Dublin. 30K, 40k, 50K. Huge money. Some are pulling in nearly 3 grand a month.
    hahaha

    Reply
    1. Brian Cowen

      Exactly. If you make 3 grand a month you should pay 2 grand in rent. For a studio apartment. That you can’t smoke or drink in. Or have any pets. Or visitors. Damn straight!

      Reply
  3. Eoin

    Oooh! Better get in a buy now so…before it’s too late to get on the ladder. And sure if it all goes south again like it did in 2008, NAMA and the taxpayer will be there to bail out everybody.

    Reply
  4. GiggidyGoo

    Must be the week to get people agitated and pushed over the brink of buying overpriced properties. Of course this report on rent says that the rents ‘could’ go up by x amount. And the other report today tells us that house prices ‘could’ go up by y amount. Buy now, don’t rent. Buy now because prices are rising. Yeah, right!
    My memory isn’t that short. I still remember hundreds of people queuing to lay deposits on houses that weren’t even build. And people queuing overnight to see more boxes in some new fancy-named estate. And all getting loans of 4-5 times their income. And more than 100 pc mortgages so that they could get a new car as well.
    That’s just barely 12 years ago. In the meantime those buyers are being turfed out and properties repossessed. Incomes are lower. One partner probably has lost their job.

    If people must buy, then buy at least 20miles from a city, where there are good Bus or rail services. It’ll be quicker to work, less stressful, and the property will be a hell of a lot cheaper.

    Reply
  5. postmanpat

    Non connected pleb: “Hi bank , can I get a mortgage for 300k. what s the repayment on that? €900 a month? okay , I’m paying €1200 rent at the moment…” Bank:” whoa hold on there we can only give you enough to buy a flat…err apartment for 150k because we calculate you can only repay €450 a month” Pleb: “But I want to buy a house and my current rent is more than what a mortgage would be and I’ve been paying that to my landlord for years.” Bank: “150k take it or leave it” . (Pleb buys “apartment” from builder friends of bank, hopes to get on the property ladder , the flat quickly depreciates in value because flats suck and aren’t built properly)

    Reply
  6. Cian

    The Irish population has grown by 13.2% since 2006 [CSO figures]
    The almost complete lack of building between 2011 and 2016 means that these extra 560,000 people are competing for the same housing, so prices are going up.

    We need more (good-quality, properly planned) homes built immediately.

    Reply
    1. Yeah, Ok

      Building houses, pfffftt. Let’s mess with supply side incentives and developer tax breaks for another few years, see how that pans out.

      Reply
    2. ahjayzis

      And in the meantime…..?

      Is there is no ceiling to what kind of rises we are comfortable with from rack renting parasites sweating their assets?

      Is there no effect on the country’s social fabric and economy by sitting on our hands waiting for builders to decide they’re ready? Is transferring taxpayers money into the pockets of vulture capitalists overseas really a better investment than building actual homes that will pay returns in years to come?

      This isn’t a natural disaster. if it was, say a famine or something, you think we’d stand for food price rises and the hoarding of agricultural land like development land now? The government is serving its’ people on a platter to foreign vultures, it’s working for them, not it’s electors.

      Reply
    3. Junkface

      “We need more (good-quality, properly planned) homes built immediately.” – I’m not sure Irish builders are capable of this.
      When house hunting in 2012 a friend was told by an Irish solicitor not to buy any apartments built after 2000. That’s really saying something. Irish builders repeatedly wane from the materials and quality promised in the building plans. Standards of insulation are appalling for new builds, and the room sizes are a joke. So small and poxy. I’m glad I emmigrated. I needed some sanity.

      Reply
  7. Nuala McNamara

    Imagine there’s only 2766 homes available to rent in TOTAL in :Dublin(1300),Leinster(716),Munster,(750)Connacht/Ulster(less than 600)!But Daft Report says that” just 251 homes available across Cork, Galway,Limerick & Waterford CITIES,almost 90% fall from 2009!
    The comparison between cost of renting to cost of buying is shocking:eg 3bed house Cork to buy €901 compared to renting at €1186, Limerick to buy €640 compared to €970 to rent& just using Dub 10 to buy€939 to rent €1659(.CSO’16 stated that the number of households paying at least €300 a week to private landlords went up by 166% since 2011)Why is it so hard for renters to get mortgages if they have a solid history of paying much more in rent?
    Of course more supply needed plus much more social &affordable houses built & people’s solid rental payment history should be taken into account re availability of mortgages.That would also put less pressure on the private rental sector.
    CSO’16 stated that there were140,120 vacant houses and 43,192 vacant apartments,what is being done re them?

    Reply
      1. Nuala McNamara

        Wealthy plus so called vulture funds!Just looking at CSO’16 figures re ‘Ownership status’ : Ownership went up by 8.8% :611,877 while those dwellings owned with mortgage went down by 8.1% & those renting went up by 4.4%.
        On the other scale significantly there were 93,013 in overcrowded dwellings which went up by 28%!If you just take 1extra person per overcrowded dwelling then that’s 93,013 people.Also 120,000 HOUSEHOLDS on social housing lists ? how many in each household!Then over 8000’offical’ homeless(3124 children)+4007 in refuges (including 2349 children)etc.Its a National emergency & NOT acceptable!
        Yet 183,312 vacant houses& apartments plus 62,148 vacant holiday homes!

        Reply
  8. caveat

    Interesting how monthly rents were practically stable from the crash until the Troika left at the end of 2013, then they begin to skyrocket again.

    Reply

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