Dublin: €1,822, up 10.9%
Cork: €1,180, up 7.7%
Galway: €1,096, up 12.4%
Limerick: €1,004, up 14.8%
Waterford: €835, up 12.1%
Rest of the country: €860, up 9.8%

Daft’s last quarterly rent report of 2017.

Rents rose by an average of 10.4% last year, while the mean monthly rent during the final quarter of 2017 was €1,227.

Meanwhile, there were 3,100 properties available to rent at the beginning of February.

Good times.

Rents rise 10.4% as average price hits €1,227 (Aengus Cox, RTÉ)

114 thoughts on “Rent Out Of Shape

    1. anne

      It hasn’t stopped. It didn’t work. It was self policed..ergo it’s been double digit increases for landlords.

      RTB knows what landlords are charging in rents & don’t publish it, so no one has any visibility.

      Regardless of new tenants, rent in rent pressure zones is not supposed to be more than 4% per year currently.. but new tenants have no way of checking what the previous tenants were charged.

      It’s a farce..and it was never designed to be implemented – clearly.

      Reply
        1. anne

          They give averages. I don’t get to see what a particular landlord charged. Therefore there is no transparency. The rent limits in rent pressure zones are self policed.

          The RTB know what landlords are charging.. why aren’t they advising landlords en masse that they were charging x amount last year, they’re now looking to charge more than the 4% allowed..no can do.

          Instead you have tenants being evicted under spurious reasons so they can new tenants in & charge whatever they like. The 4% limit was meant to be regardless of new tenants.

          These increases make a joke of the rent measures brought in. They aren’t enforced.

          Reply
          1. Cian

            PRTB can only report on (a) what the legislation allows – at a guess it doesn’t include rent amount; and (b) on what the landlords report.

            A landlord can actually lie and say that the rent is 1000 when in fact it is really 1500. I know back when PRTB started that some landlords feared that there may be joined-up-thinking in this country and PRTB would inform Revenue on the rent amounts to chase landlords for tax.

          2. anne

            The legislation is 4% max per year in rent pressure zones, is it not?

            The RTB are not enforcing this.

            FGs rent measures have been a farce.

          3. Cian

            Proof that RTB aren’t enforcing it please?

            Remember RTB are the equivalent of the courts, not the Guards. The judiciary don’t go around stopping people breaking the law – the Guards do. The judiciary adjudicate on if the laws were broken or not.

          4. Cian

            no. I’m not laughing.
            you are accusing the RTB are not enforcing this.
            So (a) prove that they should ; and (b) show proof they are not.

          5. anne

            Prove that they should? Huh? Why should we have any enforcement of laws? Come off it will you & stop acting like an idiot.

            Proof that they’re not.. 10% increases Cian. Have you looked at their own index reports? Fire away there..since you gave their link. I’m sure you have the temperament for it.

          6. Cian

            Okay. I think we’ve crossed wires.

            You think some government agency should be policing the 4%, and suggesting RTB.
            I’m saying RTB havent been given the authority to so this.

            So RTB aren’t at fault for not policing this . The government is by not empowering anyone to actively police it.

          7. anne

            Yes..we got there eventually. Agreed.

            Measures like the transparency I mentioned would make policing it less of a requirement IMO. That’s an opinion Cian..I can’t prove that.

  1. Donk

    Is there anywhere else on earth where property related stories make the headlines so often? We’re mad for pricey gaf stuff

    Reply
    1. Andyourpointiswhatexactly?

      London. San Francisco. Loads of places: I’ve just named two and said that was loads. But then again, I had a glass of wine with lunch. Up yours, world.

      Reply
      1. Donk

        I drove past these the other day. They’re imposing big houses but just plonked in a field near the n3. A few were built in boomier times and they seem to be completing the development now

        Reply
          1. Bertie Blenkinsop

            Have you ever noticed how Teri Hatcher’s nostrils are crooked?
            Once you see it it can’t be unseen.

          1. Bertie Blenkinsop

            I only said their first album is good!

            And I’m very much an accidental landlord who tries to do the right thing by his tenants, you have my word on that :)

  2. Amorphous Kerry Blob

    Tuned into Newstalk this morning. According to some fella on Pat Kenny, it’s tough for landlords at the minute, and more deregulation is needed. Pat didn’t question him.

    Reply
      1. ollie

        government takes 70% of all rent paid. and dont forget renters pay tax on their rent money before they pay the rent.
        so, FG are the real gougers

        Reply
          1. ollie

            if rent is 1,000 the renter has already paid up to 500 in tax. landlord pays 50% on rental income plus property tax, rtb, management fees. happy now?

          2. anne

            Wrong on all counts. 50% over 34k approx, & with tax credits means a lower effective rate . Renters are not paying 50%.

          3. anne

            Likewise a landlord pays income tax at a rate dependent on other income.. they also get tax credits & a ton of tax reliefs, like 75% of the mortgage interest written off.

            You’re a whiny aul gouger Ollie as I’ve told you before.

        1. anne

          “government takes 70% of all rent paid”. I’m just laughing at the stupidity of this.

          When I buy any goods or services & pay VAT you don’t hear any other shower adding on the income tax I’ve paid to say the government are taking x amount in total..your income tax plus the vat, plus the tax I’m paying.. that is the funniest thing I’ve read in a while.

          Full of p0o.

          Reply
    1. italia'90

      Plank paid over €1m for a luxury suite in The Ritz/Powerscourt hotel back in the Tiger years. He’s not going to see that million for a while, the last time I checked, they were being exchanged for approx. €500,000. That might have increased recently.

      Reply
  3. Diddy

    And all the while FG ride high in the polls. This country is run by spoofers and opportunists supported by ladder puller uppers.

    Reply
  4. Didd

    Cont
    Case in point, the proposed development ADJACENT to St Anne’park in raheny. Local nimbys and being led by rabble rouser and labour senator Aodhan O riordan. The locals fear change aodhan wants his seat back. Much needed housing being opposed.

    Reply
      1. diddy

        NO Scottser,, thats why i put adjacent in block capitals… The land has been fenced off from the park since the 90’s. Not one blade of grass on the exisiting St Annes park will be affected by this development . NIMBYISM of the highest order.

        Reply
  5. Owen C

    Note – this is asking prices (rents) for new leases, not the increase in average existing leases. So this in no way reflects what sitting tenants are having to pay, but yet will almost certainly get reported in that manner.

    Reply
      1. Owen C

        No, my point is that this is only for NEW potential leases, not for existing rollovers. As noted above, you can hoodwink people with a new lease as they dont know the old lease. But you cant hoodwink people on the rollover of an existing lease/rent review. So the average rent is not increasing 10% (or rather, we have no idea what it is changing by). Just the average new one.

        Reply
        1. anne

          The RTB have the figures. They have an idea all right. It’s the wild west here though & legislation means nothing for ordinary people.

          Reply
          1. Cian

            The PRTB have the amount that the landlord tells them when the tenancy begins. There is no onus on the landlord to update the RTB in subsequent years if the rent changes.
            The difference between Daft data and RTB data is asking price versus actual price.

          2. Cian

            No. It’s the difference between asking price and actual price.
            It’s in the landlords interest to have a higher asking price than they expect to get… So the PRTB report on the actual prices.

            It’s similar to the estate agents Vs property price register

          3. Cian

            no anne. I’m saying (for the third time) that the RTB only have the 1st year’s rental amount. Any subsequent increases are not passed on to RTB.

            I didn’t say that rents haven’t gone up.

          4. Fact Checker

            Cian makes a very valid statistical point.

            In a number of years asking prices could slow to 1% or so, but actual rents in payment may increase by more, as landlords use the 4% headroom to get rent-controlled rents up to where the market prices are.

            The approach used by Daft and the RTB will not catch this.

  6. yoji

    I bought a house in Nov. Before I was renting in Crumlin and was paying 1450 for a two up two down house. When we were leaving I was talking to the landlords and they were renting to the new tenants for 1700. Which is considerably more than the mortgage I’m paying on my house also in Crumlin.

    So glad I got out of the rental market and feel sorry for anyone still in it.

    Reply
    1. anne

      They’re not supposed to increase it more than 4%, even for new tenants.

      Where’s the oversight of the legislation here? The RTB will have the figures they were charging for each year.

      With all their lovely reports of rent indexes, they’re doing feck all for renters.

      Reply
      1. yoji

        Meh. This is about rent not interest rates.

        Also I’m just so relieved not to be worried silly every time the lease was up. Hoping that they’d just screw me on rent and not be selling up as the absolute hell of looking for a place now if more depressing than a very depressing thing.

        Reply
        1. ollie

          €300,000 french mortgage over 20 yrs cost €1235 a month fixed for 20 yrs.
          rent on 300k apartment in dublin costs 2,000 a month.
          its not about interrst rates? meh moron.

          Reply
  7. Lush

    My mind is blown. Any thoughts of coming home are on the back-burner again.
    I rent a 3 storey house, 42 square metres (I can’t do the little 3 above the line thing); in a town with a population of around 25,000, 30 minutes from Bordeaux and 2 hours from Paris with the new high speed train.
    I pay 410€ per month.

    Reply
          1. dav

            you are right of course. In France the citizen is the primary concern of the government, here it’s the vulture funds..

      1. Lush

        It is small, this is true. 1 big room on ground and first floors and 2 rooms on second floor. Rent hasn’t changed in over 10 years.
        On top of rent, there’s council tax (360€/year), rubbish collection (82€/year for 3 collections per week), electricity (about 60€/month) and water (about 15€/month).
        And I agree Janet, very attached to my carte vitale; the health care here is phenomenal, but that’s a whole other thread.

        Reply
  8. scottser

    there is a widely-known but not widely reported phenomenon of foreign pension funds buying up blocks of units and contracting local authorities to provide tenants under long-term leasing schemes for 20+ years. one i know of has 60 units at 1.5k per month for a 2 bed in dublin that tie the council to contracts for 21m over the duration of the contract. the state will own not one brick of that stock at the end of the contract.
    if i was coveney i would divert funding into a half dozen factories nationally producing modular and rapid build housing under part 8 on council lands. screw the landlords and screw the developers.

    Reply
    1. some old queen

      There is no way that so many people are coming into the country to justify this madness. There is another reason and I expect it as you say, big business manipulating the market.

      Reply
      1. Otis Blue

        You’d wonder.

        The Ireland 2040 plan to be launched in Sligo on Friday is planning for an extra 1m people over the next 22 years.

        Given that global population increases are largely accounted for by migration, some obvious questions arise. Where will they come from? What will they do here and where will they live?

        Reply
        1. david

          The 2040 plan is the republics black adder Leo the cheque is in the post Vardakas version of baldric’s cunning plan which is so cunning and devious that if you put a tail on it you can call it a ferret
          This grand scheme of stating 113 billion depends on tax revenue and that all hinges on post brexit
          Already the promise of thousands of new social houses is going to grind to a halt simply because the councils land zoning for housing next year is virtually zero so they have little to build on
          Broadband is a pipe dream now for rural communities
          If they cannot achieve both of these how I all honesty can they deliver 113 billion I a new national plan

          Reply
      1. scottser

        No, they came in at just under 100k each. Council donated land and waived levies keeping costs down. The reason you hear nowt about it is cos there’s nowt to report – they’re just homes now.

        Reply
        1. david

          I would say they were never built
          If they were Leo the chequer is in the post varadka would of ensured images of homeless entering these new homes would of been engrained on the nation
          Maybe they were built alongside the national broadband inniative which was supposed of brought broadband into every home by 2018

          Reply
      2. david

        I remember those
        First we were told 30 grand a unit then it went sky high
        Call me a cynic but I reckon it was all about refusing to build any because that is spending tax on the people of this state
        I would love to see the countries books and I would guess its a horror story

        Reply
  9. ahjayzis

    The old and moneyed eating the young.

    Why would any emigrant come back? Why would a company relocate to Ireland when their staff are going to be utterly ripped off like this? Rentiers produce nothing, but they have a country run by and for them.

    Reply
  10. italia'90

    Finding a solution to the latest Irish housing crisis is not a priority for FFG no matter what PR bs they put out into the media. Venezuela made their housing crisis a priority and have almost completed 2,000,000 new homes, although they had planned on building 3,000,000 by 2019.

    Sinn Féin could hoover up votes if they are clever, but thankfully they are not.
    The bad news for Derek Mooney and his ilk is that SF are becoming more and more transfer friendly, this has been the REAL fear for many years for the tallymen.

    Reply
    1. Andrew

      Venezuela? I’m not sure I’d use it as an example for anything, apart from what might happen if Sinn Feín did actually assume power.

      Reply
  11. Junkface

    The only thing that will stop this rental gouging in Ireland is another financial meltdown, or some sort of construction 3D printing (of houses) revolution within the next year.

    Reply
  12. Dhaughton99

    It’s no wonder that some are claiming to be homeless and staying in a hotel for a few months so the State can pay the rent on a new place.

    Reply
  13. The Parish Priesht, hic!

    If only these damn ‘renter-people’ didn’t have free Wi-fi, they’d be out on the streets…

    No, come back… that’s not what I meant…
    It was a joke.

    Hang on…

    Reply
  14. Birdie

    It really gets me so down… I just feel outside of all this media excitement about this great economy.

    Its just so draining not knowing when and where you can lay roots.

    Reply
    1. The Parish Priesht, hic!

      No euphemism intended but I envy you not knowing when and where you can lay roots.
      My roots are tangled. I have to count up to 10 before I get up off a chair.
      And I need a letter off me doctor…

      Actually, it’s called Emphysema or something.

      Reply
    2. The Parish Priesht, hic!

      Let me catch my breath…

      You fly Birdie…
      Fly Birdie.
      Fly.

      We love you.

      Come back when you’re rich and marry one of my parishoners.

      I’m serious.

      Reply
  15. david

    Wait until the crash post brexit

    The difference is we do not have the billions in tax from a boom and our national debt is not 26 billion
    We have modest ta receipts plus a national debt of over 250 billion
    I just wonder what happened to the revenues raised by the fire sale of over 200 billion of distressed property
    This money was never taken off our national debt
    Where is the dosh Leo the cheque is in the post varadka
    When the crash happens we will be like Greece unable to pay
    So will we be selling children like the good old times of the church

    Reply

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