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As far as I can see supply has massively jumped in Stillorgan and Sandyford due to the N11 apartment blitz. So I reckon whats happening is availability of property to rent in these locations is killing demand in the suburbs.
Funny that, I managed to knock €200 a month off in rent in Stillorgan in November.
Me too, I cut the proposed increase in half.
Dundrum, Sandyford have a massive oversupply just about to hit the market. I would say mid to end Jan 2008 will further F*** the sales and F*** the rental markets. There just isn’t any way out for the builders.
I also think this SD is going to have ZERO impact. It is a small change and even if it was big I would question whether it would have any effect.
A work collegue told me he wanted SD dropped for second buyers as he was considering selling and buying a bigger gaff. He said he wouldn’t do so now, “I’m not paying that kind of money to Bertie for nothing” is what he said.
I also think the builders were bluffing with their idea of putting their proerties out to rent. I think they were hoping to convince the market that prices were not going to come down. Now that the SD has not dropped there will be big layoffs in EA and Construction all across the country. This SD drop was their last hope and it was only a grasp at straws anyway, but I suppose you can convince yourself of anything if the need is big enough.