There is a headline in the Irish Time today which states that Average Dublin rents rise to €2,258, up 14.3%, amid ‘extreme shortage'. This is untrue and completely misleading. The vast majority of people renting in Dublin are paying far less than that. The €2,258 figure is for new tenancies only. While that is a problem it's not what the headline says.
Irish Times, "Average Dublin rents rise to €2,258, up 14.3%, amid ‘extreme shortage"
- Thread starter Purple
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The actual report includes an interesting survey of rents paid by sitting tenants, which are now approaching a 50% discount on market rents.
Rent controls have completely distorted the rental market and have made a bad situation far, far worse.
ww1.daft.ie
Rent controls have completely distorted the rental market and have made a bad situation far, far worse.
Irish House Price Report Q1 2024 | Daft.ie
The actual report includes an interesting survey of rents paid by sitting tenants, which are now approaching a 50% discount on market rents.
Rent controls have completely distorted the rental market and have made a bad situation far, far worse.
Irish House Price Report Q1 2024 | Daft.ie
What else could anyone expect in a situation where government policy is being formulated by kneejerk; driven mainly by whoever in the opposition, the media or the homelessness lobby can shout the loudest at a given time?
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Brendan Burgess
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I contacted the Irish Times and they have corrected the headline.
Average Dublin advertised rents rise to €2,258, up 14.3%, amid ‘extreme shortage’
imalwayshappy
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Yawn. Can anyone actually be shocked at this? The fact that small landlords are fleeing the market in their droves and further compounding supply issues, I expect this amounts in the heading to probably double by this time next year.
PebbleBeach2020
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New landlords, however few they maybe, have one chance to set the rent before being limited to at best 2% increases thereafter for the foreseeable future.
The government has left them with no option but to charge the maximum amount possible. Tenants moving out year end, we will be leaving the property empty considering the regulation, anti landlord actions that have been brought in.
The government has left them with no option but to charge the maximum amount possible. Tenants moving out year end, we will be leaving the property empty considering the regulation, anti landlord actions that have been brought in.
newirishman
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The actual report includes an interesting survey of rents paid by sitting tenants, which are now approaching a 50% discount on market rents.
Rent controls have completely distorted the rental market and have made a bad situation far, far worse.
Irish House Price Report Q1 2024 | Daft.ie
Ah come on, hyperbole.
Sitting tenants are not getting 50% discount on market rates.
The 'market' is trying to charge new tenants twice as much as they should be able to get away with.
The actual headline is:
"New tenants are not able to avoid getting ripped off as landlords are trying every trick in the book."
What tricks?
If we accept being a landlord is a business we should not be surprised when they act like a business and charge the price the market is willing to bear for their product. There are countless other businesses operating on much higher margins that don't attract a fraction of the rip-off hyperbole.
And here we go again with the landlord bashing.
Are home owners who sell their home to be condemed for seeking the best sale price?
Are guest house owners 'ripping off' their guests by charging the market rates for B&B?
There's no "trick" here - simply a shortage of supply along with the unintended consequences of government legislation.
From the daft.ie report:
“On average, rents for sitting tenants have increased 3.4% each year over the last decade, compared to 7.1% for market tenants during the same period”.
It’s not hyperbole to say that, on average, sitting tenants are paying around half the rent that could be achieved in the open market.
A very successful, productive and efficient export economy has resulted in large increase in population. The inefficient and under productive domestic construction sector has not been able to keep pace with that demand. That's the core of the problem; builders aren't very good at their job. The Government and State Sector have undoubtedly made things worse but that shouldn't be a surprise since governments and State sectors are inherently inefficient and wasteful but the construction sector being grossly inefficient is the core of the problem.
Blaming landlords for that is ridiculous.
I am.
Yes, just like every other market.
Only if you're a politician with an understanding of the issue on par with an overgrown child who dresses like Trotsky, used to work for a homeless charity and probably still have a poster of Che Guevara on your bedroom wall.
PebbleBeach2020
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I'm sure you can imagine; the pseudo-left wing populist waves are crashing on the shores of the Government and causing an alarming amount of erosion.
They're all published.
If you don't have your vacant property seized under emergency powers by the Govt? Its a real possibility IMO the way things are going and the noises coming from the NGO sector/extreme left Politicians
Silversurfer
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Will this only apply to previous rentals or to the large number of homes built on family farms where the children are living abroad?
The Horseman
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I am not sure that will happen personally. The State knows its sailing very close to the wind on the "constitutionality of housing". They know if they push this too hard eventually someone will take a class action on the constitutionality of the "seizure of vacant property by the state". Legislation already exists for CPO's
Remember we still have a large % of home ownership and no matter what people say they will protect themselves at the cost of others. The objections to planning applications is a prime example. Everybody agrees we need more accommodation but we have the not in my back yard attitude.
Ironically one of the reasons (not the only) which even Micheal Martin himself objected to student accommodation because of the risk of anti social behaviour. Why do people object to social housing? in the main because of the small number of anti social individuals that destroy areas.
Deal with anti social issues and you will go along way to reducing objections to planning applications. You will always have objections but the number will decrease in my opinion of the anti social issue as addressed.