Central Bank Cites Daft.ie Rent Index

Dublin, 9 November 2005 - Data from the Daft Report, and the Daft National Rent Index, is featured in this year's Central Bank Financial Stability Report, released last Tuesday (1 November 2005).

"We are pleased the Daft.ie economic research is being used by an institution like the Central Bank", says Daft.ie director Eamonn Fallon. "We make our reseach available to the public free of charge in the hope that we can help paint a more accurate picture of what it going on in the rental market. We gather data from over 900 estate agents and 40,638 registered landlords making the Daft.ie National index is the most accurate index currently available."

The Financial Stability Report is an annual publication released by the Central Bank, which analyses the health of the banking and investment sectors in Ireland. A section of the report is devoted to the housing market, where data from the Daft Report, the CSO, Gunne Auctioneers and the Irish Auctioneers and Valuers Institute (IAVI) is featured. The Daft National Rent Index, the Daft Regional Rent Index and the Daft Property Type Index are all included in the report.

The Central Bank report notes that based on the available data, property rental prices are showing signs of a rebound, after two years of negative growth. This correlates with a small acceleration in property prices. Central Bank Governor, Mr John Hurley, warns about the risk of a hard landing in the Irish property market, if this trend should continue.

Daft.ie will continue its quarterly analysis of the Irish property market, with the next Daft Report hitting the press this month. The last report, released in September featured an introduction by the economist Dave McWilliams, and was well received by the media.

- The Central Bank 2005 Financial Stability Report is available online from the Central Bank
- The Daft Report is available online from Daft.ie

Ends

For further information please contact:
Jennifer Mooney
053-26789
087-8336450

Notes to the Editor:
Daft.ie, Ireland's biggest property site has been providing low-cost online advertising to the Irish property market since 1997 with a primary focus on first-time-buyer properties, investment properties both home & abroad and residential property to let.

Established by two brothers Eamonn and Brian Fallon, Daft.ie has become the country's biggest property portal with over 30,000 properties available for sale or let at any one time. The site currently delivers 24 million pages of properties a month to over one million visitors. Eamonn and Brian were also finalists in the 2004 Entrepreneur of the Year Awards.