Rental market favours students at the moment

Gary Redmond, President of the Union of Students in Ireland (USI)

19th Aug 2010

Gary Redmond, President of the Union of Students in Ireland (USI), commenting on the latest Daft research on the Irish property market.

For any student starting college, moving away from home for the first time is a big step. Back in 2004, when I started college in UCD, the Celtic Tiger was still roaring and finding student accommodation was a huge issue. At that time, Ireland was experiencing a surge of immigrants from Eastern Europe to feed the booming construction sector. This resulted in the stock of affordable student accommodation being at a historically low level. The effects of this on the ground were simple to see: students paid more for accommodation, settled for accommodation of a poor standard or had to commute further to college.

Nowadays, the economic climate in Ireland is considerably different. Rent prices are continuing to fall across the country and figures from daft.ie show that the stock of properties available to rent remains high. However, many of the issues that affected me when I moved from Arklow to Dublin are still to fore of students' minds today.

When the first round of CAO offers is published on August 23, thousands of students and their parents will take to the streets to begin the hunt for accommodation. Competition to find quality accommodation, particularly in the large cities and towns, can be fierce. One simple piece of advice that I would recommend to all students is be proactive and start the search early, as it is my experience that the students out of traps early invariably get the choice of the best quality accommodation, closest to their college at an affordable price.

Finding suitable accommodation is fundamental to the college experience and one of the key questions asked by every student is "should I live with strangers or with friends from home?" When I began college I was the only person from my secondary school class that went to UCD. This seemed like a huge negative at the time, but this couldn't have been further from the truth. By moving in with strangers and being forced to make new friends, I got the most out of my college experience.

Most colleges offer on-campus student accommodation. While on-campus residences have the distinct advantages of being located close to lecture halls and other facilities such as shops, sports facilities and the college library, this option is often much more expensive than the private rental market and can only cater for a small fraction of the student population.

Before signing a contract, students should always ensure that their landlord is registered with the PRTB (see www.prtb.ie for further information) and that they have contact details - name, address and contact number for their landlord or their agent. It is also worth noting that you may be entitled to claim tax relief on any rent paid. For further information on this, visit www.revenue.ie. To avoid difficulties at the end of the tenancy, USI recommends that all students use a USI Rent Book (available from USI) as proof of all payments and agree a schedule of the contents of the property.

Over the last two years, the media has been dominated by news of the ailing economy, the banks and oversupply in the property market. On the surface, this oversupply appears to be good news for students. Rents are, on average, about 8% lower now than a year ago.

On the other hand students have faced a cut of 5% in their maintenance grant and a 69% increase in the student services charge in the last 12 months. Coupled with the worsening labour market, students are still finding that accommodation continues to account for a large portion of their budget. With over 200,000 students beginning the annual accommodation hunt, what can they expect to find on the ground? Well, there is a lot of good news for students, as rents for everything from a single bedroom to five-bed homes are down on average compared to a year ago across all major university cities and towns.

A year ago, students could expect to pay rent in the range of €370-400 per month, while students in Dublin faced considerably higher rents. But recent figures from Daft now show that in the last year the biggest falls in rents have been in Dublin. Generally, around the country, rents are between 20% and 30% below what they were two years ago.

In Dublin, over 80,000 students can expect to pay the most in rent with a single room costing on average €400 a month in the city centre. Meanwhile, a double room comes in at just over €500 per month. In the suburbs of south county Dublin, this figure drops to €353 for single room and €443 for a double room. Outside of Dublin students studying in Cork can expect to pay the most with a double room in Cork City centre costing €345 per month. Castlebar, Letterkenny & Tralee offer the best value for students with rents coming in at around €200 per month for a single room.

With rents continuing to fall, and a steady supply of properties available for rent, the market seems to be in favour of the students at the moment. There is of course one caveat, with a number of mortgage providers increasing their variable interest rates in recent weeks, it remains to be seen if landlords will try to pass the extra cost onto students, or if, due to the weak market, they'll just grin and bear it.

One thing is for certain: the standard of property available today is far superior to that which previous generations of Irish students were forced to inhabit.


HIGHLIGHTS:

Rental Index
Rental Index

Stock and Flow of Properties
Stock and Flow of Properties


SNAPSHOT:

Average asking prices across Ireland in Q2 20010
Asking Prices in Q2, 2010

Discuss This Article

  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Thursday August 19, 2010 @12:18AM

    "Before signing a contract, students should always ensure that their landlord is registered with the PRTB".

    Might want to get a fact-checker for this one.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Gav Date: Thursday August 19, 2010 @04:01PM

    Why so? All landlords are required to be registered with the PRTB and there's a full list of registered addresses on the website - http://www.prtb.ie/pubregister.htm.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Thursday August 19, 2010 @09:08PM

    It's cart before the horse.....a landlord doesn't register with the prtb just for the sake of it, a landlord registers a tenant and specific property along with his/ her details with the prtb after contracts are signed, therefore a potential tenant would have to sign a contract first?

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 20, 2010 @09:26AM

    The Landlord registers with the PRTB after he lets the property and not before. The list you refer to on the PRTB website refers to current registered tenancies. If for instance a LL is letting a brand new houase/apt the property or LL will not be registered with the PRTB until he finds tenants and getsther Lease and PRTB form signed.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Alex Date: Thursday August 19, 2010 @08:44AM

    bargain,bargain,bargain,
    negotiate,negotiate,negotiate,
    all students should learn one of the most important skills in life by learning how to negotiate with lanlords. Don't let them away with silly prices today....
    Things have changed, but not the greedy lanlords. they need to learn the hard way as everybody else did. You should be able with some decent negotiation, to get a room for 250-300. All houses have gone down.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Thursday August 19, 2010 @09:33PM

    Bit of a general statement......any particular part of the country in mind for the 250-300 bracket for the nice room....Ranelagh or maybe Rathmines? people love a good rant about the greedy LanDlords but you have to remember that a lot of these Greedy lanDlords are ordinary people, civil servants, engineers, farmers, solicitors or they maybe unemployed but almost all will have nice hefty mortgages to pay. There are many diferent categories of lanDlord from those who are lucky enough to consider all the rent recieved as pure profit to the lanDlords that wish they never ever got involved in the first place because the rent doesn't even cover the interest on the mortgage.......you can't lump them all in together!!!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Sean Date: Thursday November 4, 2010 @10:57AM

    Don't tar every landlord with the same brush. If the apartment is a dump....walk away. That is the way to get rid of the junk and junk landlord. I am fed up with comments like "greedy landlord"

    Let's set the record straight. I take, say, €1,200 euro per month for a quality city centre 2 bed. I pay €200 NPPR for 2nd residential unit, I pay €250 for BER (one off), I pay €576 to the agent in fees, I pay €70 to the PRTB. I have at least a month unoccupied, I have maintenance, repairs and replacements and the killer is I have to pay the service charges of around€2,000 per annum. (Why? All over Europe this is for the tenant as they are the ones who benefit from the charge).

    So out of the "greedy" annual let of €14,400. I may, just may, have €9,000 left which is taxed. My interest bill is now allowed at only 75% of the total. So, my return is around €5k and that is assuming I have no loan which is not realistic. I am giving a total stranger the free use of an asset worth around €250k at to-days price, hoping they will look after it and pay the rent as agreed. No. It is the tenant who is the greedy ones here. It's a joke. Renting is a total dead end and useless exercise for any landlord.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Clare Keegan Date: Thursday August 19, 2010 @10:18AM

    Please could you send me a copy of the above report or send me the link to it on your website. Thanks and best regards

    My email address is clarekeegan@gmail.co

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: David Date: Thursday August 19, 2010 @01:25PM

    Try clicking on the Download the full PDF report at the top of this page!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: James Date: Thursday August 19, 2010 @10:49AM

    With over 20,000 properties still on the rental market it is hard to see rents bottoming out just yet.
    The pace of falls may have slowed but I think further falls are inevitable.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Thursday August 19, 2010 @09:59PM

    If you search all of the republic of Ireland you'll see that around 20,000 properties come up, this is true! But what you don't realise is that in a lot of cases any one property can be advertised not only by the owner but by as many letting agents as the owner gives permision to, in one case i've seen 7 adverts on daft advertising the very same property, in hundreds of cases you'll see 2 or 3 adverts for the same property.

    Finally, don't forget about the hundreds upon hundreds of properties that are advertised on Daft and are part of the 20,000 right now this very second but are gone, yes that's right, that property was let today or yesterday or last week or 3 weeks ago but the ad was never taken off Daft.ie!!

    Worth thinking about? How many properties are actually available to rent at the minute in the Irish republic?

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 20, 2010 @09:39AM

    The reverse logic also applies to your theory as many advertisements on DAFT cover a multitude of properties, e.g. a developer with a scheme of 30 Apts puts 1 ad to let them all

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Friday August 20, 2010 @11:29AM

    It does, but not even nearly to the same degree, most developers will have more than one agent who in turn may even put the properties under several different catchment areas to try and generate more interest, so i ask you how many properties are actually available, it can't be 20,000...can it?

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 20, 2010 @01:40PM

    On the contrary it applies to an even greater degree. With a standard ad on Daft costing circa €26 and a premium ad costing circa €75 of course it makes more sense to use 1 Ad to let multiple properties. In addition agents frequerntly 'recycle ads', and use them to let several properties. For instance if they put up an ad for a 1 bed apt in D1 today and it is let next Wed thwey will leave the ad up and when they get calls from parties interested ni it they will them them that it is rented but they have another similar property nearby etc.

    In response to your query about whethwer the current stock could possibly be 20,000 I would say that it is at a minimum 20,000 andf is more likely to be in the region of 22,000.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Friday August 20, 2010 @02:49PM

    agents pay a fixed fee every month, so weather they put up 1 standard ad or 100 standard ad's they pay the same amount every month..........so what do you think that incentives agents to do? that's right put up 2 or even 3 ad's for the same property. With regard to your D1 example........that makes my point for me, I’m on about now, what's available to view now or tomorrow? not next week or the week after.........and if that agent as got another similar property near by and assuming it is vacant then surely it would already be on Daft.ie?

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 20, 2010 @03:52PM

    You are missing the point completely. I myself have advertisements for property on this very website. One ad in particular has been used to rent multiple properties in a particular development and has been a 'live ad' for close on 3 years now!

    I have seen first hand what is happening on the ground and can assure you that there are numerous examples in Dublin anyway of 1 or 2 ads being used continuously and recycled/reworded etc to let 20/30/40/50 apts in the same development. This practice scews the totla rental stock figure significantly and while there are some cases where several ads are up for one property it would rarely ventutre into the 6/7 ads which you talk about and is not happening on the scale which you maintain

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 20, 2010 @03:56PM

    Can you give us 5 examples of the same property currently for let on DAFT which have 4 or more ads up? Please provide the 20 links in shortform

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Anonymous Poster Date: Friday August 20, 2010 @05:11PM

    i think we are missing each other.....while you're saying that 1 ad represents say 20 or 50 apartments in a development, i'm saying that everytime i look at your ad you won't have an apartment in that development available to show me...you might have one the following week or two weeks but not that day?

    Simply, all i'm trying to say is that i don't think that right now today there are 20,000 properties to let out there in the republic, available, ready to move into!

    On your example's.....just have a look at what you mentioned earlier, 1 bed's in D1. Remember i mentioned 1 case of 7 and 100's of cases of 2 or 3 ads representing 1 property but you want 5 examples of 4 or more??why 4 or more?? Don't think it would be fair or allowed for that matter to do links?

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Bill Date: Monday August 23, 2010 @11:50AM

    20,000 rentals available where?
    Leitrim? Roscommon? Or where people actually need and want them? ie. close to schools, hospitals, shops, services, third level educational facilities, public transport? I do not think so, having just let some good quality premises and extended some existing leases(at higher prices) I could not believe the responses to my adverts! If my real life experiences and the discussions i have had with the numerous potential clients desperate to find something nice in a good area are true, what does this say?
    Because of peoples insistance through objections and vehement opposition to higher densities in areas where all services exist, it has led to a huge shortfall in these locations, hence the forcing of development further and further away these services and indeed the family units, with generations of families being forced apart (by the very people who objected in the first place), so splitting that vital close knit family support system, essential in any vibrant community. This "not in my back yard syndrome" has come home to roost. Well done all concerned!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Monday August 23, 2010 @04:18PM

    Too true Bill, that is why there are almost 6,000 residential properties currently for rent in Dublin and an additional 900 odd residential properties to let in Kildare, i.e. 35% of the current rental stock of the country is located in 2 counties which on the whole are very well sevred in terms of infrastructure hospitals, schools etc etc.

    The solution...........sure build some more!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Bill Date: Tuesday August 24, 2010 @10:18AM

    Where in Dublin?
    The outskirts? With no discernable community and services on the door. Dublin is a large city, of course there are going to be vacant premises in places, 6000 units, even with an average occupancy of 4 people per unit, ie. 24,000 people works out at a tiny percentage when you consider the population of the city is close to 1.5 million.
    Theres not to much vacant in D 2,4,6, 8 etc

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Tuesday August 24, 2010 @05:02PM

    Yes Bill, on your assumptions the % vacancy fro Dublin is 1.6% or just 10% better than ROS which on the same occupancy assumptions of 4 per dwelling works out at 1.78%.

    Dublin is not a large City by any stretch of the imagination and if anything the vacancy rates are highest in the most central locations which in turn have the highest rents. To illustarate this point I have looked at the current available stock in Dublin 1 - Dublin 6w (very central areas well served with infrastructure etc) and it is just over 2,000 units, or 33% of what is currently available. See list below for details

    Dublin 1 (458)
    Dublin 2 (228)
    Dublin 3 (193)
    Dublin 4 (460)
    Dublin 5 (44)
    Dublin 6 (420)
    Dublin 6W (108)
    Dublin 7 (439)
    Dublin 8 (186)

    If you include Dublin 7 and 8 the % rises to 44% of the current available stock.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Bill Date: Wednesday August 25, 2010 @12:41PM

    Dublin is a large city. This is a fact. Its a capital city with all the benefits that brings with it, seat of Government, banking and business headquarters, sports and entertainent hubs etc
    Look up Dublin "city centre" on Daft.ie To Let. Less than 900 units. This is not a huge amount by any stretch of the imagination. Even in the good times there were still vacant units, there will always be.
    I dont know if you are involved in the business or not, I am, and I call it as I see it, from exact experiences, as recent as the last 7 days. One has to be honest with ones self.
    I have noticed recenty that I am getting enquiries from returning Irish emigrants who have done the year in Canada/USA/Australia plus the obligatory years travel adventure and are now searching for places of their own as they have done the sharing thing and dont want to do it again, fun though it was at the time.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Wednesday August 25, 2010 @01:57PM

    Bill therre are so many contradictions in your posting that I do not know where to start but here goes! (1) Am I involved in the business? - Yes I am in the Commercial Spehere. I am involved in Resi on a personal level with weekly interaction in the rental market. I also spent 4 years obtaining a Degree in Property Economics (AKA Valuation Surveying) so when it comes to analysing the market and talking about population stats I actually do know what I am talking about!
    (2) Vacancy Rates in Dublin City Centre - Your original posting stated that "Theres not to much vacant in D 2,4,6, 8 etc" . I have showed you that using current DAFT vacancy figures that these are exactlytghe areas where the bulk of the vacancy is! You now say that Dublin City Centre has only 900 vacant units i.e. 15% of the total! Sure if you are looking at O Connell St, Henry St, Grafton st you will not find many vacant apts as the city centre areas are primarily commercial! If however you live in the real world and use the statsfor the actual city centre in residential terms i.e. Dublin 1 - 8 then the vacancy rate is closer to 44%.
    (3) Returning Immigrants - You must be having a Laugh! I don't know if you track CSO or ESRI stats much ill but I think you will find you are way of the mark with your assertion that we are seeing significant inflows of people back into Ireland.
    (4) Dublin is a large city - No it is not, not by International or European standards. I don't know if you have travelled much but I lived in NYC for 3 years and that is a large city! It is ranked 454th in the world with an Urban population of less than 500k,and behind such giants as Hamburg (209th) with over 3 times the population and San Antonio, Texas (320th) with 2.5 times the population!

    Get real Bill if you believe half of your posting you are not living in the real world.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Bill Date: Friday August 27, 2010 @09:49AM

    Are you really going on ESRI figures? The same body that that has given us so many incorrect projections in the very recent past!
    I am going by my actual dealings, the day to day up to the minute facts.
    As for vacancies in Dublin city centre, just click "city centre" its a simple process.
    Where did you get the 44% vacancy rate from? To come up witf that figure you have to know the exact number of habital units in the city? Would love to know where you that nugget of information from. ARE YOU REALLY SAYING THAT NEARLY EVERY SECOND HOUSING UNIT IN DUBLIN IS VACANT?
    "Sphere "is the correct way to spell the word

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 27, 2010 @11:59AM

    Bill, when you must resort to puicking up on and pointing out typos then it is clear that yuo know you are out of your depth! The 44% vacancy figure is calculated as follows (and read this slowly)...there are currently 6,000 available rental units/dwellings in Dublin.....over 2,600 of these are located in the key areas in resi terms of Dublin 1 - 8, which in percentage terms is 44%. ARE YOU REALLLY SAYING THAT YOU COULD NOT COMPREHEND THIS SIMPLE CALCULATION?

    As for vacancy rates in Dublin City Centre just click the following the Dublin 1 - 8 areas individually, it is a simple process and will give the following results;

    Dublin 1 (458)
    Dublin 2 (228)
    Dublin 3 (193)
    Dublin 4 (460)
    Dublin 5 (44)
    Dublin 6 (420)
    Dublin 6W (108)
    Dublin 7 (439)
    Dublin 8 (186)

    Re the ESRI, just use the CSO Stats then, which are also very much out of kilter with your "day to day up to the minute facts"!!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Friday August 27, 2010 @04:52PM

    Thanks for the spelling/TYPO corrections Bill, there are a few in your own post too (witf for one!). You must know you are out of your depth when you resort to pointing out typos.

    The 44% figure vacancy figure is quite simple. There are currently over 6,000 vacant untis in Dublin. Of this 6,000, over 2,600 are located in the key Resi areas of Dublin 1 - 8. It is a simple concept Bill and should not be too hard to grasp. It was in response to your scoffing at the notion that ..."Theres not to much vacant in D 2,4,6, 8 etc "!

    Select Dublin 1 - 8 areas into Daft individually (its a simple process) and you will get the following results;

    Dublin 1 (458)
    Dublin 2 (228)
    Dublin 3 (193)
    Dublin 4 (460)
    Dublin 5 (44)
    Dublin 6 (420)
    Dublin 6W (108)
    Dublin 7 (439)
    Dublin 8 (186)

    You keep harping on about the City Centre. There is quite a difference between the commercial city centre which is primarily commercial with very little resi accomodation e.g Henry St, O Connell St, Abbey St, Grafton St etc etc and the City Centre in residential terms which in reality is the Dublin 1 - 8 areas.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Sean Date: Sunday August 29, 2010 @09:50PM

    Just read the points you guys were making........and would like to try and shed some light on a point that was made earlier but Paul shot it down while making one or two valid points himself.

    I'll stick with the area i know best which is D4 because it's where i have most of my resi properties mainly apartments but some houses also. Paul tells us that there are 460 properties sitting free at the minute in D4......where do you get this figure from? I have not got one single property free at the minute in D4, the last one that that came free was at the start of June and went within 2 days, the next one is due to come up in mid September. Any time i meet people at viewings i ask them have they been searching long and is there much similar property in the area....i hear the same old story "there's a lot on daft until you go searching, a lot of places are already let or were let that day but weren't taken off daft".

    You have to understand...and i'm sure you will tell me you do! but that owners do place properties to let with at least 2 different agents or perhaps even more in the case of houses. I myself used 2 agents on top of advertising it myself for a house in Ballsbridge and i advertised it under Donnybrook and D4 to get more calls it makes sence to use daft like this but on the negative side it probably leads people to think that there is more availability than there is!

    Anyway, finally, all i can tell you is that there are no more 400 properties available in D4 than the man on the moon, half it or maybe less 180!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Declan in Cork Date: Monday August 30, 2010 @10:07AM

    Have to agree with Bill and Sean, I have 18 houses and apartments all let in Cork, I have numerous previous tenants and contacts phoning me up every day looking for accomodation. A few of us long term landlords in the city have always refered people to each other if we could not accomodate them ourselves, between 7 of us with over 150 houses/apts we have nothing left. I do have something that might come up late Sept, that should be interesting. On studying daft in Cork there does seem to be stuff to rent but its either in the middle of nowhere or a kip. Cant see how Dublin city centre could be much different.
    Paul. I think you need to get out more

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Monday August 30, 2010 @04:03PM

    Thanks Declan for your valuable insight into the market in Cork (which is by the sounds of it much more indepth, comprehensive and reliable than Dafts own figures). Sure Daft by name, Daft by nature and what would they know, sure are'nt they only the largest property website in Ireland with over 20k rental ads alone on their website today versus your sample of 150

    Declan there is no point attacking my view which is based on both market evidence freely available on DAFT and also from on the ground experience simply because it does not sit comfortably with your own views on the market which is based on a commune of 150 gaffs in Cork!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Declan in Cork Date: Monday August 30, 2010 @05:29PM

    Dear Paul,
    I suggest you get a life. There is a chip there somewhere! I deal with the situation I find myself in to-day, not the past, not the future, its called reality, obviously you have a problem with a recovering property rental market. I am delighted for you. Best wishes in your future.
    As an excercise for yourself, place an ad on daft, nice pictures,good area with a reasonable rent. I`ll even pay the fee for you.
    By the way, it`s not a "commune" of "gaffs" in Cork, but a selection of reasonably good to excellent accomodation in the city and popular suburbs.If you can`t face facts sure God help us. Maybe your choice of vocabulary shows which way you lean to

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Tuesday August 31, 2010 @05:18PM

    Dear Declan,

    Thanks for your suggestion but my life is just fine the way it is thanks! It really is a case of pots and kettles when "Declan from Cork" suggests that somebody from outside of the "Rebel County" has a chip on their shoulder!

    I deal with the situation I find myself in to-day on both a professional and personal level, not the past, not the future, its called reality, and obviously you are looking at the market with rose tinted glasses on and a biased perspective. I have no problem with a recovering property rental market and would be delighted to see rents increase and vacancy rates and voids decrease however I live in a place called the real world Declan and it may well be 18 -24 mths before we see even a semblence of that occurring.

    BTW, it is a "commune" of "gaffs" in Cork, in fact we will call you "Declan 150 Gaffs from Cork" from now on. Are you a retired Guard or teacher!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Declan in CORK Date: Wednesday September 1, 2010 @01:23PM

    HI PAUL,
    I`m not from Cork! But am IN Cork, (If you do not understand the difference in the words FROM and IN, God love you.) I am working for myself for over 35years, I have never been employed by anyone other than myself. I HAVE TRAVELLED AND LIVED ALL OVER THE WORLD.
    I am not lookin at the market with' rose tinted glasses', just looking at the situation myself and similar business associates find ourselves in. Nothing sinister, no plot, no agenda just sharing the facts as I find them. After all this is an information forum, not a vehicle for opinions and a rant.
    Who is this ' WE' you are speaking for? ' we will call you Declan from Cork from now on' sic.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Wednesday September 1, 2010 @03:16PM

    You replied to my original posting which concerned the rental market in Dublin and disagreed with it (as you are perfectly entitled to do). You backed up your opposition to my viewpoint with anecdotal evidence of the rental market in Cork (which I was not commenting on), as opposed to my use of actual and current Daft figures.

    You then without provocation (as I had never engaged in posting replies etc to you) to insult me with the assertion that..." I think you need to get out more". Quite why this was necessary only you can tell.

    Your next post was more of the same, telling me I need to "get a life", and that I think "There is a chip there somewhere". The aforementionwed was unwarranted and uneccessary and you fully deserved my rebukes.

    YOu now tell me that even though you are "Declan 18 Gaffs IN Cork" that you are not looking at the market with rose tinted glasses on! mmm I think I will call into and ask the Barber on my way home whether he thinks I need a haircut.

    I too have travelled extensively and why you feel the need to put it in CAPS (the web equivalent of shouting) is beyond me, and has very little (if anything) to do with our exchange here.

    If you have read all of the comments you will see that I work and am qualified within the industry (albeit on the commercial side) and am involved in Resi from a personal perspective as I have some rentals of my own. I don't need to be told or BS'd as to the current state of the markety by a 2 bit with bedsits in Cork as I am both well placed and have sufficient cop to see exactly what state it is in myself. I know all about ads on DAFT, rents, voids etc and by the looks of things would teach you a thing or to about it.

    If you expect anybody reading this exchange to believe that you with a sizeable personal interest in this markt in addition to your 132 gaff mates are not looking at the market with rose tinted glasses on then you are beyond help mate. I on the other hand gave my opinion as I see it on a day to day basis and also by using freely available info on DAFT. There is nothing sinister, no plot, no agenda just sharing the facts as I find them and based on a much larger sample than the commune of 150 below in Cork. I think that it is you who needs to remmebr that this is an information forum, not a vehicle for opinions and a rant at those who have opinions you do not share.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Declan IN Cork Date: Friday September 3, 2010 @12:00PM

    Good rant Paul, hope it does you good!
    Having done a bit of research on previous Daft reports, it seems you have an opinion (rant) on everything.
    Take a step back for a while, take a holiday, I am sure all those around you would be thrilled.
    As an aside I most definately am not your "mate".

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Monday September 6, 2010 @10:32AM

    Good man 'Declan in Cork' AKA 18 Gaffs Declan in Cork. I must admit that I did feel good after my rant/retort in response to you insults and general inaccurate assertions on the current state of the market.

    I see your research (or lack of) has let you down again. It may surprise you to hear that there is more than 1 Paul with access to the internet and who accesses, reads and responds to Daft reports.

    We agree on one think though, you are definitely not my "mate". But sure you have enough of them anyway (AKA 132 Gaffs Mates)

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul the realist Date: Wednesday September 1, 2010 @06:08PM

    The bottom line is the rental market is being kept artificially high by our ridiculous allowances that are given to people of welfare to rent from private landlords, be it single mothers, families, single people. Can this crazy setup go on for much longer?, we are borrowing 20 billion a year to keep the show on the road, sooner rather than later the tap will be turned off, then you will see the real level that rental properties will be at. I mean how can we justify making landlords rental money from our tax, its a joke, the amount people get for these allowances should be slashed, then rental prices would drop like a stone.

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Paul Date: Monday August 30, 2010 @04:36PM

    The link below is 1 example of a current ad to let in D4 which will be used to let multiple apts in the one building. I have yet to see any evidence furnished to show examples of 1 property which has 3/4/5/6/7 ads currently on daft for it, yet this 1 ad could potentially let 20/30 apts easily, especially if it is renewed daily.

    http://www.daft.ie/2852557

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: Bill Date: Monday August 23, 2010 @11:51AM

    20,000 rentals available where?
    Leitrim? Roscommon? Or where people actually need and want them? ie. close to schools, hospitals, shops, services, third level educational facilities, public transport? I do not think so, having just let some good quality premises and extended some existing leases(at higher prices) I could not believe the responses to my adverts! If my real life experiences and the discussions i have had with the numerous potential clients desperate to find something nice in a good area are true, what does this say?
    Because of peoples insistance through objections and vehement opposition to higher densities in areas where all services exist, it has led to a huge shortfall in these locations, hence the forcing of development further and further away these services and indeed the family units, with generations of families being forced apart (by the very people who objected in the first place), so splitting that vital close knit family support system, essential in any vibrant community. This "not in my back yard syndrome" has come home to roost. Well done all concerned!

    • Reply to this message
  • Re: The Daft Rental Report Q2 2010

    Posted By: NO1FAN Date: Sunday September 19, 2010 @03:04PM

    because of the way bloggers in this section had without fail kept their comments purely to the topic of the rental market, i decided not to submit any comment, as my interest is in the sales end of things, and had actually felt a bit guilty about posting sales related comments on a previous rental related Q1 2010. however, having just read the last few comments on this site, i'm sorry now.

    at least those of us who veered away from the topic, injected their own little bit of insight into the property market, and while it was obvious that there were people with their own interests at heart, at least it was never reduced to the pitiful bickering that is above.

    can't see how landlords are so confident about the state of the market. obviously, there's a sense that if you talk up the market, then things will return to the way they were. the fact is, that while someone may have been brave enough to buy 10-15 properties over the last 10 years, things are never going to return to the lucrative heights they were expecting. i can imagine, some landlords, if they could ever get over their addiction to buying, could heve hoped to retire with a nice profit of 3/4 million on selling up after all taxes had been settled.

    thankfully, i resisted the temptation to follow some of my colleagues into the speculation game. "you're mad to sell- just rent it out and buy another on the strength of its equity" thanks be to god, i have witness poverty over my lifetime and know there's no such thing as a sure thing.

    now it's time for me to offer my advice back to investors- sell off what you can now before they take another tumble. try and break even rather than waiting for a return of the madness. in my opinion,there's a new wave of price reductions iminent in the propertymarket after the next budget.

    • Reply to this message

Respond to Article

Your Name: (Optional)

Subject:

Message:

We ask you to keep your comments on-topic and suitable for a general audience. The article you are commenting on is entitled: The Daft Rental Report Q2 2010

Please Note: Your message will not be displayed on the website until its contents have been checked by a member of staff.