May 25, 2010

Rents stabilise during the first months of 2010

This post reviews the latest Daft Report, on the rental market in Q1 2010, released this morning. Overall, it finds that rents have been stabilising, particularly in the city areas. The market remains fragile, though, with the total number of properties available to rent outside the main cities well above the number of monthly transactions. The post finishes by looking at what’s happened the dishwasher premium over the course of the recession. Read more

April 20, 2010

Your very own rent-or-buy calculator

This post launches a rent-or-buy calculator that allows people to put in their own details, including assumptions about interest rates and growth in house prices and rents over the coming decades, and compares their wealth at the end of the period if they rented or bought. It also discusses some of the assumptions underpinning the calculator and answers to FAQs about it. Read more

April 7, 2010

Falls in asking prices start to ease but NAMA questions remain

This post reviews the latest Daft Report, released this morning, which finds that asking prices are one third below their peak on average. Of encouragement to all parties is the high levels of transactions, with one in three properties posted in January either sold or sale agreed already. It also discusses Brian Lucey’s commentary, which outlines implications for NAMA. Read more

March 31, 2010

EU scuppers “long-term economic value” as NAMA’s first tranche goes through

This post looks at the figures behind the first tranche of NAMA’s loans and whether they suggest that NAMA is driving a hard bargain for the taxpayer. It finds that the EU’s guidelines on discounting mean long-term economic value is ultimately lower than current value not higher. It also outlines how the first tranche of loans may be entirely unrepresentative of future tranches. Read more

March 16, 2010

A nation (of renters) once again? Revisiting rent or buy

This post takes five sample properties in Dublin and explores the rent-or-buy question. It first explains why potential first-time buyers should care about rents and shows how current yields in residential property compare with mortgage costs and yields at the height of the boom. It then examines the 25-year costs of renting or buying, before discussing some of the wider economic benefits of a nation of renters. Read more

March 9, 2010

Elephant in the room: NAMA’s yield problem hasn’t gone away

With NAMA set to swing into operation, this post outlines the elephant in the room for NAMA: yields on Irish property. It also discusses how NAMA could still work for taxpayers – if those working for NAMA ensure that they make themselves fully aware of the true yields on various types of Irish property and how those yields may correct themselves over coming years. Read more

February 16, 2010

Stop the press – rents go up in January!

The latest Daft Report shows that rents in all parts of the country have actually stabilised since November, a surprise given the apparent excess of properties in large parts of the country. This post discusses whether the January figure is more likely to prove seasonal or structural, before outlining the importance of stable rents for the broader property market and economy. Read more

February 2, 2010

Two charts on the stock of property for sale in Ireland

Has the new year brought a change in the property market headwinds? Will first-time buyers waiting in the wings find themselves missing out if they don’t move soon? This post looks at trends in the total stock sitting on the market in both apartments and houses, across Dublin, in the other major cities and in the rest of the country. It also estimates the percentage of all properties currently listed for sale in each segment Read more

January 19, 2010

Spotting the swallows – Ireland’s rental market in 2010

Ireland’s property market has had nothing but bad news for most of the past three years. This post reviews some of the data from the rental market during 2009, in particular comparing the stock on the rental market with the number of transactions it is processing. It finds evidence to believe rents will level off in Dublin and the other major cities in the next few months, although the outlook for smaller rental markets looks unchanged from a year ago. Read more

January 7, 2010

Asking prices down up to 43%, Irish property market loses €180bn in value

The latest Daft report, reviewing house prices in 2009, was published today. This post reviews its main findings and updates the estimate of the total value of residential property in the country, before outlining the likely developments in the Irish property market over the course of 2010. Read more

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