The Pretty Charts thread


#405

Re the people going home before lockdown and giving up their places. I would have expected those numbers would have been somewhat baked in earlier.

Re students: I heard a number of anecdotes of students giving up their places back in March so I would again have expected those to have hit the market before now, Maybe not due to the lockdown.

My view is this figure will plateau soon enough and I would expect that in September quite a bit of demand when many start to return to work/university. I can see the uni’s pushing to get lectures back…those student residences need to be filled…


#406

There must be some amount of property hoarding a la 2008 to have rents up this year?


#407

Median figures would be more revealing Id guess.

Rents at the lower and mid ranges have fallen based on my observation.


#408

It is hard to square these (rental) figures against PS’s charts. It also states the there was only a 0.1% decrease between May and June which again is not reflected in PS’s charts.


#409

The RTE article is self-contradictory of course. The headline says “this year” while in fact the article is about the 12 months since June 2019. It doesn’t tell us whether rents first rose and then fell sharply due to Covid. My stats are skewed too, of course. It’s quite possible the single ads for representative apartments in large, mostly empty blocks, actually constitute the majority of the available rental stock. I don’t pick that up at all.


#410

In the daft report, the reported annual drop in asking prices in cities outside Dublin is significant…

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This doesn;t seem to match up with the average asking price drop on the map for those cities

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#411

I would be astounded if the daft figures picked this up though. They are highly unlikely to know how many places in say Capital Docks are vacant. I passed by Clancy Quay (near Heuston St) over the weekend. It looks like 3 large apartment blocks are soon to hit the market, I am guessing at a minimum that will be 100 units. If there are similar units close to completion then you are looking at a serious increase in supply that won’t be reflected in the numbers.


#412

Who will rent them, and at what cost? They could struggle to fill them before 2021, no?


#413

As they are a REIT I imagine they will be loathe to drop the price if it can be helped so they might try a free month of rent or something like that if they are struggling to shift them. I wouldn’t rule out the council taking a good few of them either.


#414

Just looking at the sales side of things in Dublin , I can see supply is stuck around 4600, the median asking price has ticked up to 398 , and the PPR is steady at 353. It seems there were no sales of new houses last week - I need to double check that as I’ve never seen it before.


#415

Pretty Charts (more info and links here )

Monthly

Quarterly


#416

Looks like these are now on the market

Clancy Quay


#417

Seems like the new government are succeeding in keeping prices inflated at least in the short term


#418

Interestingly it looks like rental supply has gone down in last couple of weeks. It will be interesting to see the August update. I wonder what is driving this as in theory it is too early for students (Not withstanding the uncertainty for the upcoming academic year) so it is unlikely to be driven by that cohort. It could be due to people who had relocated abroad before lockdown but are now coming back?


#419

Maybe, and this is a guess, some of the freed up stock is moving sideways into the Sales market as some reach for an before it is too late/all hell breaks loose?


#420

I don’t track the numbers for sales so I can’t tell how much new supply has been added in the recent past but from some anecdotal stuff I have not heard that much has come on stream.


#421

I keep an eye on sales supply in Dublin. There was a big uptick from 4200 to 4700 in June and July but it has fallen back slightly over the last couple of weeks but that’s a standard pattern in the summer. Last years peak in July was 5500 and there were about 340 sales per week. This year sales are around 230 per week. New sales are running at 60 or 70 per week so are proportionally higher than last year - which makes sense. These sales are probably contracted for some time. Median asking price is 395 and has been there or thereabouts for the past 18 months, median price in the PPR is 340 and seems to be on a general downward trend (it was around 370 in April).

Not sure about the decline in rental supply. There are certainly a lot of construction people coming back but that’s probably balanced by the hospitality staff leaving. I think the big increase in stock was Airbnb going to rental (certainly the photos seemed to suggest that) and that may have come to an end. It’s also possible that the occupation density is going down as rents fall - so instead of 4 people sharing it’s going down to 3. The fact that one bed rents still seem ridiculously high makes me think this might be the case. WFH is difficult with 4 people in a 2 bed apartment.


#422

Incredible drop in availability in last two days. I wonder if daft are cleaning up some old ads or something as I would doubt there has been this much movement in such a short space of time


#423

Pretty Charts (more info and links here )

Monthly

Quarterly


#424

Less of a fall in rental availability than @beattie was seeing - I’ve seen this happen on MyHome sometimes - I think it happens when they refresh the listings. Interesting that the averages are falling but not the medium - obviously some reality penetrating the higher end of the market. Rents for one beds are still ridiculous - they are asking prices though so it may take time for people to adjust to the new reality.