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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Sun Feb 10, 2019 1:26 pm 
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Planning Tribunal Attendee

Joined: Aug 19, 2011
Posts: 1014
Rent crisis: First sign of slowdown despite record prices
https://www.independent.ie/irish-news/rent-crisis-first-sign-of-slowdown-despite-record-prices-37799910.html
Quote:
An analysis of the rental market by property website Daft.ie shows the average monthly rent nationwide at the end of 2018 was €1,347, an increase of €317 per month (31pc) compared with their Celtic Tiger high-water mark in 2008 (€1030).

This represents a €600 per month (81pc) jump compared with when the market bottomed out in 2011 (€747).


Based on Mr. Lyons' latest daft report on rental prices.
https://www.daft.ie/report/ronan-lyons-2018q4-rental

w/ infographic


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Sun Feb 10, 2019 2:52 pm 
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Under CAB Investigation

Joined: Apr 9, 2014
Posts: 2128
snaps wrote:
Rent crisis: First sign of slowdown despite record prices
https://www.independent.ie/irish-news/rent-crisis-first-sign-of-slowdown-despite-record-prices-37799910.html
Quote:
An analysis of the rental market by property website Daft.ie shows the average monthly rent nationwide at the end of 2018 was €1,347, an increase of €317 per month (31pc) compared with their Celtic Tiger high-water mark in 2008 (€1030).

This represents a €600 per month (81pc) jump compared with when the market bottomed out in 2011 (€747).


Based on Mr. Lyons' latest daft report on rental prices.
https://www.daft.ie/report/ronan-lyons-2018q4-rental

w/ infographic

This is really bad news for those living in rent pressure zones.

The knock on effect is that the government will struggle to justify Dublin as a rent pressure zone if rates are rising only 2 to 3% p.a.

And if the rent pressure zone falls away, Landlords will be able to align their rents with current rates.


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Sun Feb 10, 2019 6:10 pm 
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Planning Tribunal Attendee

Joined: Nov 8, 2006
Posts: 1315
Luan wrote:
This is really bad news for those living in rent pressure zones.

The knock on effect is that the government will struggle to justify Dublin as a rent pressure zone if rates are rising only 2 to 3% p.a.

And if the rent pressure zone falls away, Landlords will be able to align their rents with current rates.


It will be interesting to see if Eoghan Murphy extends the time for the RPZ limits to be in effect, I would be quite surprised if he (or whoever is in the hotseat at the time) doesn't extend.


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Sun Feb 10, 2019 10:09 pm 
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Under CAB Investigation

Joined: Apr 9, 2014
Posts: 2128
beattie wrote:
Luan wrote:
This is really bad news for those living in rent pressure zones.

The knock on effect is that the government will struggle to justify Dublin as a rent pressure zone if rates are rising only 2 to 3% p.a.

And if the rent pressure zone falls away, Landlords will be able to align their rents with current rates.


It will be interesting to see if Eoghan Murphy extends the time for the RPZ limits to be in effect, I would be quite surprised if he (or whoever is in the hotseat at the time) doesn't extend.

Fun times ahead - IMO it will be near impossible to extend the limit if Dublin were to fall outside the definition of a RPZ.


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Sun Feb 10, 2019 11:48 pm 
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Under CAB Investigation

Joined: Oct 19, 2010
Posts: 2686
Location: Dublin SE
Luan wrote:
The knock on effect is that the government will struggle to justify Dublin as a rent pressure zone if rates are rising only 2 to 3% p.a.

Surely this is exactly how they will justify the extension of the Dublin rent pressure zone. It's clearly working!!!

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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Tue Feb 12, 2019 10:22 am 
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Neo Landlord

Joined: May 21, 2017
Posts: 230
metalmike wrote:
There still seems to be a lot of unreality out there. There are currently 4959 properties up for sale in Dublin. The median sale price of these is 390k, last year the median selling price over the year was 338k (in December it was 325k). Only 2087 (42%) of the properties are offered at 350k or less - 1484 (30%) at 300k or less. The PPR is running at about 350 sales a week, the Myhome listings seem to be increasing at about 100 a week - so a hundred more homes added than are sold - I wouldn't find that unusual at this time of year - sales should start to increase from April to July and will be reflected in the PPR roughly 2 months later.


A major effect of the Central Bank rules has been to compress the Dublin market into the 200-400 K. price. Almost half the properties (2298 of 4783) are priced between 200K and 400K. The bell curve is totally skewed. Below that level, there is nothing except shoebox apartments. Above that, there is a steep drop in supply and little improvement in quality until you get over 1 M. . 600 - 700K will get you a 3 bed semi in OK locations. A lot of people will "settle" (i.e. swallow their bitter anger) for a decent house in Kildare/Meath but their commute be increasingly hellish as developers get back in business.

The bell curve has a long tail but there's almost nothing over 3 Million. Quite a contrast to the boom years when practically everything around Ailesbury Rd. and Killiney was asking double digits. Most houses today are as overpriced as they were in the boom but, in terms of price per sq. ft, the finest houses in Dublin are about the same price as a basic 3 bed semi in a decent location. At least, after our next crash, we won't need NAMA 2.0 to deal with massive loans for family homes. 8DD


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 Post subject: Re: Current Public Sentiment towards the Housing Market
PostPosted: Thu Feb 14, 2019 2:37 pm 
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Old Time Landlord

Joined: Sep 9, 2017
Posts: 358
The big ease....

Quote:
Property price growth eased to 6.5% in 2018 - CSO

The rate of property price growth has eased but remained a robust 6.5% during 2018, according to the Central Statistics Office.
That rate of growth was close to half the figure recorded in 2017, when property prices rose by 12.1% nationally.

There was an even more significant slow down in growth in the Dublin property market, with prices rising by 3.8% last year compared to 11.6% in 2017.
The rest of the country saw prices rise by 9.6% in 2018, compared to 13.3% during 2017.

The mid-west of the country saw the largest increases during 2018, where prices rose by 18.7%. The border region saw the lowest growth at 4.8%.
Over the course of 2018 the average price paid for a property was almost €291,000, according to the CSO. That compares to an average of €272,061 in 2017.
Changes in average prices from one year to the next can be a result of different types of units being sold, as well as price inflation.Dublin remained the most expensive region for property last year, with the average price paid reaching €446,215. That compares to almost €427,000 in 2017.
Wicklow was the second most expensive county at an average price of €357,377, while Longford was the least expensive with the average price paid at €106,749.
According to the CSO national property prices have now risen by 83% since the trough of the property crash.
Dublin prices have almost doubled (94.7%) since their lows recorded in February 2012, while prices in the rest of the country have risen by 79.5% since their May 2013 low.
By the end of last year, national prices were 18% off the highs recorded in 2007.


December saw a drop of 0.1%

https://www.rte.ie/news/business/2019/0214/1029575-property-prices-cso/

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