Tag Archives: Daft.ie

Yesterday.

Daft.ie published its latest House Price Report for the third quarter of 2019.

From the report:

There were almost 20,000 homes built between the middle of 2018 and the middle of 2019, twice the number built during the twelve months of 2016.

Just under two thirds of that increase in building activity has been in the Greater Dublin Area and, for the moment at least, the new homes built have been concentrated in the owner-occupied sector.

But new housing supply is not the full story of what’s going on. The elephant in the room, for the Irish economy, is Brexit.

To understand how that something that has not happened yet could affect housing prices now, it is important to remember a key difference between the sale and rental segments.

Across both segments, fundamentals of supply and demand matter. If more homes are built for a particular segment, this will lower prices everything else being equal.

If incomes rise or if the numbers at work increase, this will increase prices, both sale and rental.

However, for sale properties, the purchaser is committing to hold the asset and thus they have to pay attention to its future value too.

This difference also means that credit is prevalent in the for-sale market, due to its much higher price level, but not the rental market.

Therefore, both credit conditions and expectations about future prices are key factors in converting ‘real demand’ into effective ‘on the ground’ demand in the sales market.

If Brexit, in whatever form it takes, reduces Irish employment and incomes, this will be seen in the rental market.

If Brexit is expected to affect Irish employment and incomes in the future, this will be seen in the sales market.

The report can be read in full here.

Meanwhile…



Dublin Rental Watch tweetz:

A #TipOff for this ‘WEEKDAY TENANCY ONLY self-contained studio’ at €800pm. 30 Hamilton Street. Planning was granted in 2004 for a ‘storage/utility room’. Photos show a toilet with a kitchen sink and a sitting room with microwave. €800pm!

30 Ham, South Circular Road, Dublin 8, D08 K0Y1 (Daft.ie)

UPDATE:

Grotto Avenue, Booterstown, South Co. Dublin – for €59,000

Daft.ie advertisement sez:

Castle Estate Agents Powered by Keller Williams present this Investment opportunity close to the Booterstown train station. 29 sq meter private garage for sale at Grotto Avenue. Property Reference :1181-371

Ah here.

Grotto Avenue, Booterstown, South Co. Dublin – €59,000 (Daft.ie)

Minister for Housing Eoghan Murphy

This afternoon on RTÉ Radio One’s News At One.

Housing Minister Eoghan Murphy was interviewed by reporter Louise Byrne about the latest Daft.ie quarterly report which shows just 2,700 properties were available to rent nationwide on the website on May 1, while the average rent nationwide is €1,366.

Mr Murphy told Ms Byrne rent inflation is low.

The Daft.ie report did refer to the national annual rate of inflation at 8.3%, in the first quarter of 2019, being the lowest in five years as a “crumb of comfort” in the report.

Ms Byrne put it to Mr Murphy: “Are rent increases of 6.8% in Dublin year-on-year slow?

He said:

“It’s the slowest rate of increase that we’ve seen since 2013. We know that rents have run away in the capital because of the lack of the supply that we have had with homes to buy and homes to rent.

“And that’s why with Rebuilding Ireland, we’re dramatically increasing the number of homes to buy, but we’re also bringing in these reforms to protect renters which is so important. We know we have more work to do.

“We’re halfway through Rebuilding Ireland but it is showing signs of progress in some key areas like supply. But there’s more to do and that’s exactly what we’re going to be doing over the rest of the year.”

Asked when 80,000 homes will be built in Dublin – given that this is the figure Daft.ie claims is required and only 18,000 were built across the country last year, Mr Murphy said:

“What we saw last year was the 25% increase in the number of homes built over the previous year, it’s going to increase again this year. Each year, under our plans we’re committing more money to building more homes for social and affordable housing, we’re also seeing on the private side more housing being built as well.

“The key thing we need to see in places like Dublin is more apartments, but it’s not just Dublin where we need to see more apartments being built, it’s in each of the cities in the large towns that we have in the country. And that’s why we talk about our vision beyond Rebuilding Ireland.

“We’re talking about growing the population outside of Dublin, taking the pressure off Dublin, not just for homes but for jobs as well.”

Mr Murphy also told Ms Byrne that the rent caps “that have been working” have been extended to 2021 “at the earliest”.

Listen back in full here

Earlier: Daft Figures

Rollingnews

Daft.ie latest quarterly report  (click to enlarge)

Daft.ie has published its latest report for the first three months of this year.

It found that just 2,700 properties were available to rent nationwide on the website daft.ie on May 1 – the lowest ever figure for stock on the market, as recorded by Daft.ie, since 2006.

It also found the average rent nationwide is €1,366 and that while rents in Dublin are 7% higher than a year ago, rents in Munster, Connacht and Ulster – outside the cities – are up 12%.

Read the report in full here

Dublin Rental Investigator tweetz:

The rent for this studio on the NCR has jumped by 20% (€156) in the space of a day. Though whatever algorithm Daft use states it’s jumped 13% (€104). Further to that why do online platforms allow adverts without any photos or address?

Anyone?

North Circular Road, Dublin (Daft.ie)

 

Jaybus.

Dublin Rental Investigator tweetz:

Ireland 2019 land of bunkbeds, sheds and sofas. €420pm to live in a sitting room. A curtain as privacy from the 5 tenants using the kitchen in your bedroom. You get a shelf in a fridge, a cupboard & 3 drawers….

22 MARKET SQUARE GREEN STREET, Dublin 7 (Daft.ie)

Parnell Street, Dublin 1

An ad on Daft.ie sez:

We’re renting our living room spot where there is a double bed sofa for yourself, large and renovated kitchen and 1 bathroom for the 3 people living in the apartment (including you).

The rent is 500 plus a month of deposit, plus basic bills: electricity every two months, monthly internet and some home essentials as rubbish bags, chemicals for cleaning, etc.

…Please, ONLY email if you agree with the terms above explained.”

Sigh.

Parnell Street, Smithfield, Dublin 1 (Daft.ie)

H/T: Lisa Hughes and Dublin Rental Investigator