https://t.co/cH99bwGT1P said the average asking price for monthly rent between July and September was €1,516 – up 2.6% on the first quarter of this year and more than double the low of €742 per month seen in late 2011. https://t.co/RqyZ2agvT5
— RTÉ Business (@RTEbusiness) November 10, 2021
This morning.
Via RTÉ News:
According to the report, the increase in rents around the country reflects an on-going and unprecedented scarcity of rental homes.
At the start of this month, there were just 1,460 homes available to rent, according to Daft.
That is an all-time low, since the figures started to be collected back in January 2006.
While Dublin had initially seen an increase in availability after the start of the pandemic, there were just 820 homes available to rent on 1 November.
That is the lowest ever recorded for the city in two decades.
Rents continue to rise as availability plummets (RTÉ)
peoples thoughts on whether this problem will get worse or better? is this a post covid temporary glitch?
More rental regulations and an indefinite rent freeze on the horizon means landlords are getting out of the market in their droves.
Expect things to get worse over the next few years
But there is a finite amount of housing stock so if landlords are leaving then more people must be owner / occupiers surely?
Q-what is “a finite amount housing stock” ?
https://www.cso.ie/en/statistics/construction/newdwellingcompletions/
I would wager Mr.T is a landlord. The only people who look at the current situation and complain that it’s actually them who’s getting the raw deal. How could a rent freeze deter you if they’re the highest rents in Europe? “No. I want to be able to charge the highest rents in the Northern Hemisphere at least. With the possibility of highest in the world. Otherwise it’s just not enough money, I’m out of here!” .. and anyway, there is not rent freeze. As for regulations, most of you broke the 4% rule, and now most of you are charging people rent for their pets. There’s no regulations making this tough for you. You just want a completely unregulated market so you can do what you want and charge what you want. Just face it that there’s rules for every sector, and you shouldn’t be exempt from it just because you were for so long. It’s not right.
Cant see it getting better, the government is currently running Roadshows to attract vulture funds
https://www.irishmirror.ie/news/irish-news/politics/taoiseach-micheal-martin-refuses-answer-25418437
That is exactly what I was thinking- they are trying to keep the prices high.
‘inflation is the friend of the investor but the enemy of the thoughtless consumer’
….yeah i was thinking getting into banking…….in IRELAND ?
can you imagine if you were transferred into lending,specifically on new developments for a irish bank,how much do i get to play/ work with,how big can we grow the loan book…..what’s my split or points how much backend?
whats irish banks offering-signing bonus,moving,pretty woman allowance (clothing etc)…
at one point in time,not long ago,working for a Irish bank like oh say Seanie’s Anglo,attracted the best and brightest,today haha its junkyard dogs.They had just super office space in New York and Boston,who killed irish banking is the question…thats why you have no homes.
yOu aRe NoW dependent and in a abusive situation upon the kindness of stranger’s (yanks/brits) to build desperately needed irish homes-of course your getting ripped off-you cleared the field or irish players for them yanks-duh,
Growing Dublin economy with immigrant labour without increasing housing supply in any meaningful way isn’t helping.
In Amsterdam, where there is also a supply crunch, they’re trying to stop investors taking over the residential market by bringing in a rule that any houses under €512,000 must be bought by owner-occupiers. (soon to be the price of a flung-up semi-d here on the soulless outskirts of a commuterville regional town). Were it only the case Darragh O’Brien would tackle this problem, rather than encourage and exacerbate it. https://nltimes.nl/2021/11/03/amsterdam-oblige-homeowners-live-homes-worth-less-eu512000
Still, were you an investment fund, the state of Dublin rents surely must have you salivating.
The root cause of this is mass immigration which most people are in favour of…
So you’re saying the problem is over-supply of people rather than a housing/housing policy issue?
good man. the dumbest comment of the day and its only 10:35am. You obviously know nothing about the housing crisis and think immigrants are the ones taking all the houses. Beyond idiotic, and rooted in racism.
i wouldnt call it a dumb comment as its an arguable comment. Since Jono is agreeing most people are in faviour of immigration, i dont even think its xenophobic. it would be xenophobic to say they shouldnt come in or we shouldnt build houses for them.
ireland seems to be the oppposite of Italy where there is net emigration and gaffs are easy to come by.
ive a play in this game as i need somewhere to rent in the new year which is why I’m wondering if housing supply is going to get worse.
id have thought that attracting vulture funds would help supply, if they built gaffs similar to what they are doing in Cherrywood, South Dublin.
cherrywood? half a mill for a 2 bed flat.
*balks*
The root cause of this is a complete failure of FF & FG governments to build housing over the last 15 years.
Plenty of other cities around the world, and even locally here in Northern Europe, have had much faster population growth than Dublin and have no housing crisis.
….its just a crisis created from FFG ‘s bank rescue,there simply is no irish capital for irish housing.
No Banks=No Homes.
aint rocket science.