M
mercman
Guest
Shark -- Eh Have a look at www.irishpropertywatch.com. Doesn't appear to be that rentals will be holding up for much longer.
In fairness, Daft has been around for a fair while and is well recognised as the leader in Property rentals online. I doubt that they have doubled their market share in the last 6 months. Something is amiss if the stock on their books is spiking so quickly.Another point is that there is a quote that Daft have a lot more properties to rent than last October, so what, this only shows that Daft have more of a market share.
One thing that strikes me as riduculous in the article in the Irish times is the example of the landlord in Bally... renting for 1600 6 months ago and getting a tenant who took it for 2100 and the landlord is now quoting 1800. The landlord took the 2100 but his tenant only lasted 6 months that tells me that the rent was too high and the landlord was probably more realistic with the 1600 rent in the first place. This does not prove that that rents have crashed more like reality has set in. The increase in rents was unsustainable. As always location is key.
In any case the population of Dublin has dramatically increased as has housing stock so of course the volume of properties to rent has increased.
Are you implying that the increases seen in the number of properties for rent on Daft over the past year is broadly (or otherwise) in line with Dublin's population growth?
There are ups and downs in a cycle.
Bubbles crash.
Crucial difference.
Correct,choice is not as great as you might think,take a breakdown on Dublin.Crash or no crash people have to live somewhere. They're going to rent or they're going to buy, nobody can seriously suggest that we are going to have a generation of late twenty and thirty somethings living at home with mumsy and dadsy. Foregin nationals leaving the country would be a concern but where's the evidence that foreign nationals are flocking from the country?
When people stop renting and start buying again then the thousands of temporary landlords who are only in the business to ride the storm will be able to sell, and hence leave the rental market.
Doom and gloom all you like but I see nothing to be worried about. Obviously there will be longer vacancy periods as renters have more choice (although in reality the choice is not as great as you think as I mentioned before a lot of properties simply have no rental potential at all). This is part of the business, its not a "crash", its simply bus
iness. There are ups and downs.
Me tuppence.
Crash or no crash people have to live somewhere. They're going to rent or they're going to buy, nobody can seriously suggest that we are going to have a generation of late twenty and thirty somethings living at home with mumsy and dadsy. Foregin nationals leaving the country would be a concern but where's the evidence that foreign nationals are flocking from the country?
When people stop renting and start buying again then the thousands of temporary landlords who are only in the business to ride the storm will be able to sell, and hence leave the rental market.
Doom and gloom all you like but I see nothing to be worried about. Obviously there will be longer vacancy periods as renters have more choice (although in reality the choice is not as great as you think as I mentioned before a lot of properties simply have no rental potential at all). This is part of the business, its not a "crash", its simply business. There are ups and downs.
Me tuppence.
Indeed. Like many of the other items that form the basket of goods used by the CSO to estimate inflation the Government, Unions, and society in general, should welcome lower rents as they would cheer lower fuel and food costs. Anyone not welcoming lower rents has an obvious vested interest with no concern for the wider economy.Not to be forgotten that cheaper rents would be great news for all the renters out there. We cheer cheaper TVs, flights and cars. Why not cheaper accommodation too?
Not to be forgotten that cheaper rents would be great news for all the renters out there. We cheer cheaper TVs, flights and cars. Why not cheaper accommodation too?
Indeed. Like many of the other items that form the basket of goods used by the CSO to estimate inflation the Government, Unions, and society in general, should welcome lower rents as they would cheer lower fuel and food costs. Anyone not welcoming lower rents has an obvious vested interest with no concern for the wider economy.
Rising rents add nothing positive to society.
Anyone not welcoming lower rents has an obvious vested interest with no concern for the wider economy.