Rents up 20% - but tenants reach their limits

[Green_Bear]

But a number of factors saw rents level off in the second half of the year. With the gap between rents and mortgage repayments narrowing, some believe tenants are reaching the limit they are prepared to pay.

Agents are giving different pictures of rental demand depending on location. Geoff Tucker, economist with Hooke & MacDonald , says that while parts of the north and west suburbs are experiencing an oversupply “you are less likely to see it in the city centre or on the southside and certainly in the Stillorgan and Sandyford area, where rental demand continues to be strong”. >>>>

Rents up 20% - but tenants reach their limits
ireland.com/newspaper/proper … 48256.html

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.

[Gatelodge]

John Powell of Champion Lettings based in Swords, Co Dublin, says the market quietened down in recent months to the extent that **landlords are prepared to reduce rents. **
He says that while earlier in the year it was “crazy” people can now afford to be choosy and **landlords will negotiate on price to get the tenants they want.
**
Kathrina Cahill of Home Locators says the corporate market never really took off. “Companies no longer have large relocation packages and are clamping down on expenditure.”
One estate agent said that landlords looking for corporate tenants need to be realistic.

[random_punter]

@Green Bear

But a number of factors saw rents level off in the second half of the year. With the gap between rents and mortgage repayments narrowing, some believe tenants are reaching the limit they are prepared to pay.

Agents are giving different pictures of rental demand depending on location. Geoff Tucker, economist with Hooke & MacDonald , says that while parts of the north and west suburbs are experiencing an oversupply “you are less likely to see it in the city centre or on the southside and certainly in the Stillorgan and Sandyford area, where rental demand continues to be strong”. >>>>

Rents up 20% - but tenants reach their limits

ireland.com/newspaper/proper … 48256.html

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.

[BertieBasher]

@random punter

@Green Bear

But a number of factors saw rents level off in the second half of the year. With the gap between rents and mortgage repayments narrowing, some believe tenants are reaching the limit they are prepared to pay.

Agents are giving different pictures of rental demand depending on location. Geoff Tucker, economist with Hooke & MacDonald , says that while parts of the north and west suburbs are experiencing an oversupply “you are less likely to see it in the city centre or on the southside and certainly in the Stillorgan and Sandyford area, where rental demand continues to be strong”. >>>>

Rents up 20% - but tenants reach their limits

ireland.com/newspaper/proper … 48256.html

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.