Rents continue to increase over the year by substantial amount

In reference to Irish private sector rents grew by 7.37% from 1st quarter 2016 to 1st quarter 2017 by Robert McHugh on 15 June 2017 in Business World.

Over the course of only a year, the average rent increased by 7.37% from 1st quarter 2016 to 1st quarter 2017. The standardised average national rent being €987, Dublin is one of the highest amongst the other counties as well as Cork and Galway. Looking over the houses and apartments market the trend of rents are continuing to grow.

Outside the Dublin county, the houses and apartment rents at a overall growth rate of 1.3% in private sector rents. Annual growth increased by 7.6% in houses and apartments. The margin is shrinking between the peak of 2007 and the 2017 first quarter however, it is still 8% below.

So far the 19 Rent Pressure Zones (RBZ) are located in parts of the following counties: Dublin, Cork, Galway, Meath. No other parts of the country are currently able to become Rent Pressure Zones, according the to latest Rent Index.

Mr. Simon Coveney, …

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The Dublin property market in a word… Farcinating

I looked up ‘farcinating’ because it’s a mash of ‘farcical’ and ‘fascinating’. Thankfully the internet always delivers.

How prices in Dublin can go up 8% YoY when the market is half cash beggars belief. It’s a false signal, if and when we are wrong about this we’ll apologise, but let’s take a look at some key issues that support this view.

1. Put a blank county & address search into the Property Price Registry for 2013 and you’ll find that there were 13,320 transactions this year. At the same time the IBF/PWC data indicate that there was 5,297 mortgages drawn down this year. That would indicate a market that is transacting in cash to the tune of 60% or more. (clear issue being late registration could mean some 2012 transactions crept into 2013 but probably not enough to fundamentally change this point).

2. Something that mainstream commentary has missed out on is that the ‘low supply’ in Dublin is …

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