The William Bligh, The Gasworks, Dublin 4 (-900, -32%)


#1

Looks like it has taken quite a while for the penny to drop that the market has considerably softened…

€2,250 Oct 19

€2,350 Jun 14

€2,800 May 20

https://www.daft.ie/22031587


#2

Similar to how properties sit on the market for months and years, while the vendor refuses to accept reality…

Except certain folk on here seem to think that’s a cunning ploy to get higher prices!


#3

Well I think you need to differentiate the rental and selling markets. Unless there is a wholesale crash in rental prices it is unlikely to see a massive increase in rentals coming onto the selling market…and if rents crash then it is likely the REITs might start offloading in bulk.


#4

Now 2150


#5

Let me say it again…

SELL SELL SELL!


#6

Looks like they are not hanging about in an attempt to shift this…1900 now.


#7

“QUICK RENTAL REQUIRED”

IN CAPITALS IN CASE YOU CAN’T SMELL THE DESPERATION!

Will be interesting to see how the broader market shifts…


#8

Thats a 33 % drop.

November was always likely to be when the rental market begins to reflect the changed economic environment.

Lets see whether this begins to ripple outwards


#9

For me it is interesting that it looks like the clearing price for rentals seems to be dropping quite a bit. When the penny drops for the ones looking for 2.5k for something similar then it will get interesting. I am surprised at the volume levels are remaining static. From a FB group of mainly ex-pats I look at it appears many of the expats are looking to leave here. They are advertising their rooms and talking about shipping stuff home. I think a good few are looking to make the usual Xmas trip home into something more permanent.


#10

Well everything has been in a state of limbo since last April and many were of the view that things would likely return to normal after a few months.

At this stage that looks unlikely and the penny may be beginninng to drop. I think the reassignment of student housing blocks for availability on the open market is a biggie in terms of what it signifies. The more clued in landlords will have seen that and will be looking to lock in tenancies asap probably at lower rates.

Plus I have a lot of contacts in Asia and as far as I can determine the entire continent is back to normal with some minor exceptions. Indeed, why wouldnt you consider moving home if the alternative is an on-off lockdown future living in overpriced accomodation in what is a very dull, cold, wet environment. So highly likely that many potential tenants are about to disappear.

In many ways all roads lead east at this point. If i was 22 Id be on my bike.