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07/02/2011
Rents 'Down On Last Year's Rate'
Rents across the country have fallen by 0.6% on last year, according to a report from the property website, Daft.ie.
The fall shows a steadying of the market when compared to the shocking drop of 15% in 2009's rent prices. Daft.ie said the figures will come as no small relief to landlords and that house prices were also continuing to fall, albeit at a slower levels than in previous years.
The average rent nationwide now stands at €830 - 27% below the peak in 2007, while the total number of properties available to rent has also fallen from a high of over 23,000 in
the middle of 2009 to less than 16,000 at the start of February.
Lorcan Roche Kelly, an independent economic researcher, commenting on the latest Daft research on the Irish property market, said that the economies property market could be entering a new more European situation, where home ownership is less common.
"There is a chance - and this would need decades rather than years worth of data to prove - that the average Irish person may have fallen out of love with home ownership," Mr Kelly said.
Meanwhile, in other property news today, a leading housing charity has warned repossessions will soar this year without urgent Government action.
Respond! Housing Association demanded urgent changes to a mortgage welfare scheme as almost 100,000 homeowners struggle to meet repayments.
Spokeswoman Aoife Walsh said it was critical amendments be made to the Mortgage Interest Supplement (MIS) scheme, which gives short term support with interest repayments.
"The number of families struggling on a monthly basis is only set to increase during 2011 as incomes continue to fall and interest rates increase," she said.
(DW/GK)
The fall shows a steadying of the market when compared to the shocking drop of 15% in 2009's rent prices. Daft.ie said the figures will come as no small relief to landlords and that house prices were also continuing to fall, albeit at a slower levels than in previous years.
The average rent nationwide now stands at €830 - 27% below the peak in 2007, while the total number of properties available to rent has also fallen from a high of over 23,000 in
the middle of 2009 to less than 16,000 at the start of February.
Lorcan Roche Kelly, an independent economic researcher, commenting on the latest Daft research on the Irish property market, said that the economies property market could be entering a new more European situation, where home ownership is less common.
"There is a chance - and this would need decades rather than years worth of data to prove - that the average Irish person may have fallen out of love with home ownership," Mr Kelly said.
Meanwhile, in other property news today, a leading housing charity has warned repossessions will soar this year without urgent Government action.
Respond! Housing Association demanded urgent changes to a mortgage welfare scheme as almost 100,000 homeowners struggle to meet repayments.
Spokeswoman Aoife Walsh said it was critical amendments be made to the Mortgage Interest Supplement (MIS) scheme, which gives short term support with interest repayments.
"The number of families struggling on a monthly basis is only set to increase during 2011 as incomes continue to fall and interest rates increase," she said.
(DW/GK)
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17 November 2009
Rents At Ten Year Low
Rents across the country have fallen to a ten year low, according to findings from property website Daft.ie. The latest report published by the property respected property website said the cost of renting a property fell by a further 4% in the past three months. The national average rent now stands at €771 - the lowest level in almost 10 years.
Rents At Ten Year Low
Rents across the country have fallen to a ten year low, according to findings from property website Daft.ie. The latest report published by the property respected property website said the cost of renting a property fell by a further 4% in the past three months. The national average rent now stands at €771 - the lowest level in almost 10 years.
20 December 2011
House Prices Drop 15%
Ireland's house prices have fallen by 15.6% for the year to November, according to statistics from the Government. The Residential Property Prices report by the Central Statistics Office (CSO) found that the fall was deepening with the fall of 15.6% comparing to an annual rate of decline of 15.1% in October and a decline of 11.
House Prices Drop 15%
Ireland's house prices have fallen by 15.6% for the year to November, according to statistics from the Government. The Residential Property Prices report by the Central Statistics Office (CSO) found that the fall was deepening with the fall of 15.6% comparing to an annual rate of decline of 15.1% in October and a decline of 11.
02 October 2009
Housebuilder Reports Growing 'Confidence'
Housebuilder Abbey has for the first time since the beginning of the downturn reported improving sales in Ireland. Speaking at the Abbey National AGM, chairman Charles Gallagher said the firm's excess inventory is gradually being cleared amid steady trading in the first few months of the year.
Housebuilder Reports Growing 'Confidence'
Housebuilder Abbey has for the first time since the beginning of the downturn reported improving sales in Ireland. Speaking at the Abbey National AGM, chairman Charles Gallagher said the firm's excess inventory is gradually being cleared amid steady trading in the first few months of the year.
18 November 2008
Property To Rent Soars 133%
Renting a house is now up to 5% cheaper than two years ago, as owners choose to rent their properties and hold out for an improvement in house prices. New figures released by property giant Daft.ie show that rent throughout the country has fallen to its lowest level in over two years, and is expected to keep falling for at least another 12 months.
Property To Rent Soars 133%
Renting a house is now up to 5% cheaper than two years ago, as owners choose to rent their properties and hold out for an improvement in house prices. New figures released by property giant Daft.ie show that rent throughout the country has fallen to its lowest level in over two years, and is expected to keep falling for at least another 12 months.
18 August 2009
Irish Property Rental Value Falling
New figures just out have revealed the national average being paid out to landlords stands at just over €800 per month, down a sixth on the past 12 months. Overall, monthly rents have fallen by just under €200 in the past year, it emerged today. The latest report published by property website Daft.
Irish Property Rental Value Falling
New figures just out have revealed the national average being paid out to landlords stands at just over €800 per month, down a sixth on the past 12 months. Overall, monthly rents have fallen by just under €200 in the past year, it emerged today. The latest report published by property website Daft.
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