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06/05/2009
Rents Fall By 5% This Year
Rental costs in 2009 have so far fallen by 5%, according to a recent survey.
Influential property website Daft.ie said rental costs around the country have slumped due the drop in housing sales.
As less houses are sold, more properties are being put up for rent. This has led to an increase in landlords who are competing with each other for tenants and driving the rent prices down.
The report indicates the average national rent is now €840 a month, representing0 a fall of 5% since the start of the year and a 16% drop since January last year.
The largest falls in the first quarter of this year have been in Dublin and Limerick city, where rents dropped by a slightly higher rate of 6%.
Daft.ie analyst Brian Devine said the withdrawal of buyers from the market has contributed to the fall in rent prices.
"People are simply avoiding losses by withdrawing from property transactions. A shift in psychology rather than simply an upturn in incomes and growth is needed to trigger a mass-return of buyers to the market," he said.
Rents nationwide have now fallen for 14 months in a row and are 17.5% lower than the peak in early 2008.
Meanwhile, the number of properties for rent is at an all-time high of 23,000, according to the website's report. The report also says that there is little reason to believe that house prices will not continue to fall.
(DW/BMcC)
Influential property website Daft.ie said rental costs around the country have slumped due the drop in housing sales.
As less houses are sold, more properties are being put up for rent. This has led to an increase in landlords who are competing with each other for tenants and driving the rent prices down.
The report indicates the average national rent is now €840 a month, representing0 a fall of 5% since the start of the year and a 16% drop since January last year.
The largest falls in the first quarter of this year have been in Dublin and Limerick city, where rents dropped by a slightly higher rate of 6%.
Daft.ie analyst Brian Devine said the withdrawal of buyers from the market has contributed to the fall in rent prices.
"People are simply avoiding losses by withdrawing from property transactions. A shift in psychology rather than simply an upturn in incomes and growth is needed to trigger a mass-return of buyers to the market," he said.
Rents nationwide have now fallen for 14 months in a row and are 17.5% lower than the peak in early 2008.
Meanwhile, the number of properties for rent is at an all-time high of 23,000, according to the website's report. The report also says that there is little reason to believe that house prices will not continue to fall.
(DW/BMcC)
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IMPACT has the first in a series of public meetings as part of a cross-union Secure Rents campaign. IMPACT organiser Joe O'Connor said: "The Government's own Rebuilding Ireland action plan stated that moderating rental price inflation was one of its core objectives.
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IMPACT has the first in a series of public meetings as part of a cross-union Secure Rents campaign. IMPACT organiser Joe O'Connor said: "The Government's own Rebuilding Ireland action plan stated that moderating rental price inflation was one of its core objectives.
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.
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.
07 February 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.
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.
23 November 2016
SF Announces Secure Rents and Tenancies Bill 2016
Sinn Féin have announced the introduction of the Secure Rents and Tenancies Bill 2016, which seeks to amend the Residential Tenancies Act 2004 in order to provide for greater rent certainty and security of tenure for tenants in the private rented sector.
SF Announces Secure Rents and Tenancies Bill 2016
Sinn Féin have announced the introduction of the Secure Rents and Tenancies Bill 2016, which seeks to amend the Residential Tenancies Act 2004 in order to provide for greater rent certainty and security of tenure for tenants in the private rented sector.
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