Landlords. Don't believe the hype.

We rent in SouthMeade in Dundrum.

Just before the Xmas a load of rentals for SouthMeade hit daft all around the same time.

They started out at 1650 - 1600 for 2 beds.

To the best of my knowledge none have been rented. The prices have dropped as reported on the Pin. From 1650 to 1600. While one still remains at 1650. :unamused:
Further, one has dropped to 1550. (We pay 1575.) With still no sign of anybody interested.

Their problems are further exacerbated by the fact that Dundrum is awash with rental accomadation. Dundrum Gate is beside SouthMeade and it has several offerings and plenty more blocks have empty rental accomadation.

Now, I’m not here to report the above. I’m mentioned most of that before. I am here to let you all into a bit of info I found out.
SouthMeade was completed in Oct/Nov 2006. The yearly leases were up 3 months back. So the silly billy landlords were reading the gutter press and thought rents had shot up. So naturally the greedy beggars decided to lash up their demands too. From the former tenants I’ve talked to their original rents were 1400 and they considered this to be very high. So guess what. When the LLs asked for 1650 the tenants told them to F off and all moved out. Now the LL have been paying the rent for the last 2/3 months and it looks like they’ll be doing it for a while longer. Keep an eye, I’m guessing 1300 - 1400 per month to get tenants for the first one or two and 1000 - 900 to fill all of them (If you get what I mean).

Exciting times folks. You first anecdotal evidence of rents on the verg.

Oh, I may as well point out (to the best of my knowledge) that several apartments remain unsold. In fact, we have 4 apartments next door to us left, right, left, up and only one is occupied.

daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=224&s[mnp]=&s[mxp]=&s[bd_no]=&s[search_type]=rental&s[refreshmap]=1&limit=10&search_type=rental&id=517366

daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=224&s[mnp]=&s[mxp]=&s[bd_no]=&s[search_type]=rental&s[refreshmap]=1&limit=10&search_type=rental&id=512253

daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=224&s[mnp]=&s[mxp]=&s[bd_no]=&s[search_type]=rental&s[refreshmap]=1&limit=10&search_type=rental&id=521995

daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=224&s[mnp]=&s[mxp]=&s[bd_no]=&s[search_type]=rental&s[refreshmap]=1&offset=10&limit=10&search_type=rental&id=520894

daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=224&s[mnp]=&s[mxp]=&s[bd_no]=&s[search_type]=rental&s[refreshmap]=1&offset=20&limit=10&search_type=rental&id=518409

It seems everyone in Dundrum is basing their asking rent on the other ads on daft, even though they’re not shifting. I tried to negotiate a nearby apartment down from 1600 to 1500 but they wouldn’t budge. It seems they did get someone three weeks later, but there are plenty more where that came from.

Indeed. The agents are lazy and often stupid. I encountered that in a rent review last time around. They just look at Daft, equate asking price of what they think looks similar and then claim that is what the market will pay. Regardless of anything specific about the property (e.g. state of repair, quality of fitting etc.) even before you get to issues about aksing versus getting.

Long predicted on the 'Pin but remember, do not underestimate the greed and stupidity of the amature Irish landlord. They believed all the VI hype about eternally rising house prices and probably lack the basic cop on to realise that the months spent lying empty totally negate the “rent rises” that the VIs are spinning. Let’s see how long they continue to take the hit on both fronts before the penny drops. What it will probably require is some truth about the situation in the national media but since this is the last straw that the almighty property machine is clutching, I wouldnt expect it any time soon. Interesting times all the same.

Why anyone would want to live in one of those apartments in Dundrum is beyond me:

  • traffic is appalling
  • you’ll be surrounded by Dundrum shopping centre types
  • you’ll have to listen to that awful upwardly mobile accent

I can think of far nicer places in Dublin to live than Dundrum.

Bleedin’ Southsiders.
:laughing:

Nortsoyid til I die. :wink:

Good public transport link (Luas), proximity to M50 and possibly proximity to work! I’d say it’s worth paying 1400 for (a 2 bed)

Accent equation: southside accent is inversely proportional to the distance from D4 – except for Dundrum, where a massive discontinuity occurs.

A lot of research is going on in an attempt to explain this new phenomenon: all mathematical avenues have been exhausted and sociological methods are now being explored.

Not true - tis inversely proportional to the distance from the Dort tracks. My theory would be that it spread down the Luas tracks from Ranelagh in 2004. Roysh.

Your new theory looks like an elegant solution to me!

Wrong Luas line though. If you live on the other luas line you can connect with the DART at Connelly or other trains at Heuston, or if you live on the DART line better still.

You can rent a 2 bed in D4 right beside the Dart for 1400 or less, also with easy access to the M50, You also have two different coach services to the airport (that I know of).

If you happen to work on the Luas line that passes through Dundrum then it might make sense. It certainly wouldn’t suit me.

-Rd

Ho ho ho ho. There is going to be some fun if the ECB increasing the lending base rate. I can see everyone who is currently trying to sell, switching to renting and then realising that they will never cover the mortgage with the rent because of the glut of property that is out there to let. Tough sh!t if you ask me. Anyone silly enough to pay over half a mill for shoebox in Dundrum in 2006 deserves all that they get…

In a recent discussion about public transport in Dublin, a colleague insisted he was sure that the apparent lack of foresight in not linking the LUAS lines was actually completely intentional; to keep the Red line ruffians out of Dundrum, loike.

Reminds me of the residents of Georgetown in Washington DC who refused to have a Metro stop because it would lower the character of the area.

I think it’s generally accepted that that was a dumb idea.

-Rd

Transport links aside, it was a far more pleasant place before they built the shopping centre and all those awful shoeboxes. Ironically I’ve met several people who want to live right beside it because shopping in the Dundrum “boutiques” is literally their hobby.

Dundrum

the Ilac centre of the future…

Well at least the falling rents will help.
Unless of course they bought, and locked in at peak prices.

I wouldn’t ever go shopping there out of choice. The Cinema is pretty good, and has a few restaurants close by, and parking is easy, so if I’m going to the Cinema I’d consider it.

That said, I’ve only been to the cinema twice since August and neither time was in Dundrum, so maybe not.

-Rd

They don’t rent, that’s for the common folk :slight_smile:

To be honest it’s better than Blanch, Liffey Valley, Tallaght or any of the other awful centres in Dublin. But still best avoided if at all possible.

Something tells me the vast majority of people posting here are blokes though in fairness. I had a conversation with my ex in Dundrum shopping centre last summer which went something like “my dislike of this place (and shopping in general) is inversely proportionate to your appreciation of it”. She was in her element, meanwhile I couldnt wait to leave.

Agreed.