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Thread: Cost of rent stops rising as supply doubles

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    Default Cost of rent stops rising as supply doubles

    Cost of rent stops rising as supply doubles

    By Edel Kennedy
    Wednesday February 13 2008


    " THE number of rental properties available across the country has almost doubled in just one year.

    It highlights the increasing pressure on the property market and signals how some are struggling to service their mortgage debts.

    The survey, by property website Daft.ie, shows that it has directly resulted in a stagnation of rental prices for the first time in four years. The survey of rents in the last quarter of 2007 shows that the average rent nationwide remains unchanged at 1,388...."


    http://www.independent.ie/business/iris ... 88359.html

    So now what is left... anyone?? Ard T, FL ???
    "The Goddess Fortune is the devil's servant, ready to kiss any one's ass."

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    Default Re: Cost of rent stops rising as supply doubles

    Quote Originally Posted by spalpeen
    Cost of rent stops rising as supply doubles

    By Edel Kennedy
    Wednesday February 13 2008


    " THE number of rental properties available across the country has almost doubled in just one year.

    It highlights the increasing pressure on the property market and signals how some are struggling to service their mortgage debts.

    The survey, by property website Daft.ie, shows that it has directly resulted in a stagnation of rental prices for the first time in four years. The survey of rents in the last quarter of 2007 shows that the average rent nationwide remains unchanged at 1,388...."


    http://www.independent.ie/business/iris ... 88359.html

    So now what is left... anyone?? Ard T, FL ???
    Like everything else economy related, journalists are some what behind the times. Posters have been saying for months that rents have stagnated and in most cases even dropped.

    It does take time for anecdotally accepted fact to migrate to fourth estate print but the delay on this particular issue does stand out.

    The Crash just got crashier.
    'Hello. My name is Inigo Montoya. You killed my father. Prepare to die.'

    Inigo Montoya.

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    Politics.ie Member Aindriu's Avatar
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    About feckin time too!
    If you continue to elect idiots in elections, don't be surprised when the result is an idiotic government.

  4. #4

    Default

    Plus, this report says things will be ok if immigration remains the same, from most recent reports immigration is well down..... au revoir le septic tiger.

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    The boys and I were wondering about this. We think it's time to trade up (rent wise).
    Any developers out there with a vacant apartment in the city, drop me an email to notapennyover550aweek@hotmail.com

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    Default Re: Cost of rent stops rising as supply doubles

    Quote Originally Posted by Leftfemme22
    Quote Originally Posted by spalpeen
    Cost of rent stops rising as supply doubles

    By Edel Kennedy
    Wednesday February 13 2008


    " THE number of rental properties available across the country has almost doubled in just one year.

    It highlights the increasing pressure on the property market and signals how some are struggling to service their mortgage debts.

    The survey, by property website Daft.ie, shows that it has directly resulted in a stagnation of rental prices for the first time in four years. The survey of rents in the last quarter of 2007 shows that the average rent nationwide remains unchanged at 1,388...."


    http://www.independent.ie/business/iris ... 88359.html

    So now what is left... anyone?? Ard T, FL ???
    Like everything else economy related, journalists are some what behind the times. Posters have been saying for months that rents have stagnated and in most cases even dropped.

    It does take time for anecdotally accepted fact to migrate to fourth estate print but the delay on this particular issue does stand out.

    The Crash just got crashier.
    Lets see what happens to rents after the spring selling season fails to materialise in addition to the new inventory coming to market in the next few months plus the already large overhang of empties already in existence.

    Yup this is for sure one hell of a soft landing/healthy correction but sure lads our fundamentals are sound what with all those new high technology jobs being created by Aldi

  7. #7

    Default Re: Cost of rent stops rising as supply doubles

    Quote Originally Posted by Fish

    Lets see what happens to rents after the spring selling season fails to materialise in addition to the new inventory coming to market in the next few months plus the already large overhang of empties already in existence.

    Yup this is for sure one hell of a soft landing/healthy correction but sure lads our fundamentals are sound what with all those new high technology jobs being created by Aldi

    bang on time for the Lisbon vote

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    ThePropertyPin identified the issue of falling rents a while ago and started to track them. Quite a lot of propertys for rent arent being let out, and the asking rents are dropping. Check out their Rental Price Drops forum.

    One report someone did on daft a few days ago showed that out of 2326 properties monitored over 1 week, 235 dropped their asking rent (26 increased).

    ----------------------------------------
    Sun Feb 10, 2008
    235 drops
    26 rises

    From 2326 listings.
    -----------------------------------------
    Sun Feb 03, 2008
    193 drops
    24 rises

    From 2322 listings
    ------------------------------------
    Sun Jan 27, 2008
    135 drops
    11 rises

    From 2323 listings.
    ------------------------------------------
    Mon Jan 21, 2008
    85 drops
    16 rises

    From 1773 listings
    ------------------------------------------
    Wed Jan 16, 2008
    75 drops
    15 rises

    from 1795 listings
    ----------------------------------------------
    Tue Jan 08, 2008
    57 drops
    18 rises

    From about 1720 listings
    -----------------------------------------------
    Sat Jan 05, 2008
    42 drops
    11 rises

    From 1722 listings
    ----------------------------------------------
    Wed Jan 02, 2008
    24 drops
    9 rises

    From 1695 listings
    -----------------------------------------
    Tue Dec 18, 2007

    73 drops
    16 rises
    -------------------------------------------
    Wed Dec 12, 2007
    72 drops
    11 rises

    from 1799 listings
    -------------------------------------------
    Mon Dec 10, 2007
    39 drops
    5 rises

    from 1833 listings
    -------------------------------------------
    Fri Dec 07, 2007
    63 drops
    15 rises

    from 1823 listings
    ---------------------------------------------
    Wed Dec 05, 2007
    46 drops
    10 rises

    From 1770 listings

  9. #9
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    Glad to see reality finally caught up on the good old happy clappy Daft.ie survey.
    Freedomlover, not much left to grab on to now as the great ship Celtic Tiger is listing badly.

    Will Bert do Bernard Hill in Titanic and go to the bottom with it or is he eyeing up one of the lifeboats?
    "ah jayus Brian, would you hold the wheel here for a while, I gotta take a leak..."

  10. #10
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    The title of this thread is extremely revealing. It says: 'cost of rent stops rising as supply doubles'. The phrase 'stops rising' implies two things: (a) rents have been rising and (b) they have now stabilised, but are not falling. But, a number of posters have been claiming for the past year that rents were falling, indeed collapsing. So, if this was true, why would they use the rather undramatic phrase 'stops rising' in the thread title? If they really believe rents have been falling, why not title the thread 'cost of rent falls as supply doubles'? And supply some figures to back it up. Its because there are no figures to back it up that the thread title 'cost of rent stops rising as supply doubles' far more accurately summarises the situation, namely that rents have been rising sharply for the past 2 or 3 years, but in the last quarter have stabilised.

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