Tag Archives: 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

 

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

Dublin Rental Investigator tweetz:

What’s Carl Dombrowski offering ‘a female’ near Ossory Ind. Estate? “A place without comfort – just sleeping place with access to nearby toilet – If you don’t mind going to pool, gym for showers”. Sees himself as a slumlord.

Anyone?

Ossory Road, North Strand, Dublin 3 (€300 a month, Daft.ie)

Yesterday.

Daft.ie released it’s latest rental report.

From the report:

“Rents now 31% higher than their 2008 peak.

“The average market rent nationwide has risen by 81% since bottoming out in late 2011 and, having exceeded its 2008 peak in 2016, is now 30.8% above the previous high.

“In Dublin, rents are now an average of 37% above their previous peak while in Cork and Galway cities, rents are 30% and 47% above levels recorded a little over a decade ago.

“Outside the cities, the average rent is 22% above its previous peak.”

In the report, Ronan Lyons writes:

“…we are still discussing substantial price increases, even if in percentage terms the increases in key markets have fallen below a noteworthy threshold.

The average Dublin rent rose by €160 during 2018, compared to €180 in 2017. It is unlikely that any new or existing tenants will be celebrating just because the new all-time high is less dramatically above the previous high than it was compared to the figure from two years ago.

“Indeed, one possible reason for the slowdown in inflation could be that the market has reached the limits of what tenants can pay. Digging beneath the figures, though, another reason suggests itself: improved supply. If true, this could indicate that the mild improvement in market conditions in Ireland’s rental market may continue.

“On January 1st 2019, there were 3,641 properties available to rent nationwide, an increase of over 11% on the same date in 2018, when there were just 3,270 homes on the market.

“As shown in the graph accompanying this piece, (above) this is still the second lowest start-of-year total on record, going back to 2006. It is also below the 2016 and 2017 totals (both just below 3,900) and well below the previous market crunch in 2006/2007 when there were just under 5,000 homes available to rent.

“But an improvement is still an improvement, even if it is off a very low base. When availability improves, it is either due to a fall in demand or an increase in supply. Obviously, with Brexit looming, a fall-off in demand cannot be ruled out. However, that seems at odds with the evidence: employment and incomes are, at least at the moment, still going up.

“So, at a time of apparently strong rental demand, especially in the Dublin market, there are some signs that availability is improving and inflation easing, however slightly. A further possibility presents itself. It is possible that the numbers are something of an aberration ‐ one swallow does not a summer make.

Read Daft’s Rental Price Report for the fourth quarter of 2018 in full here

Dublin Rental Investigator tweetz:

€285pm room share of ‘office conversion’ with 3. Bunk beds blocking window. Kitchen consists of toaster/kettle/blender, etc on a desk. Looking at multiple breaches, specifically A.7 Housing Regs, perhaps planning (change of use) breaches too.

Blessington Street, Phibsborough, Dublin 7, North Dublin City (Daft.ie)

Dublin Rental Investigator tweetz:

Rajesh has a 2-bed apartment with ‘7 vacancies’ and 1 current tenant, yet photos show 2 beds and a sofa. Bedshare? Charging in excess of €3,700 per month, €45k per year. Over 50% going rate for 2-bed in Custom House Square.

Custom house square, Lowyer mayer street, IFSC, Dublin 1, Dublin City Centre (Daft.ie)

Meanwhile…

Dublin Rental Investigator tweetz:

“This Rathgar flat has one bedroom with an internal window, suggesting it was a bedsit. For €475pm you get space on the bunkbed.”

44 Rathgar Road, Rathgar, Dublin 6, South Dublin City, D06 E516 (Daft.ie)

Sigh.

Earlier: The New Normal

Yesterday: Head Banging

Previously: Dublin Rental Investigator on Broadsheet