This post reviews the latest Daft rental report, which finds that rents are at their lowest level in almost 10 years. Rents have fallen in Dublin by more than other parts of the country, while the total stock available to rent has fallen 10% in recent months. Some implications for NAMA are also explored, before underscoring the good news for tenants this news represents. Read more
With the NAMA draft business plan released earlier this week, this post reviews a key topic that remains unaddressed: the low yields on residential property. It finds that yields are clearly lower – far lower – than the 6% assumed both at the start of the NAMA process and now, in its business plan. Read more
This post reviews some measures of the health of the various property markets around Ireland, using transactions-based metrics not price-based ones. It finds that Dublin has seen an improvement in market conditions in the last six months, although it’s less clear whether other regions have reached the turning point yet. Read more
This post goes through some of the findings from the latest Daft.ie Report, out this morning, which reviews trends up to the end of September. Optimists can point to falling stock for sale and quicker sale times in Dublin. Clear regional differences are now emerging in the house price adjustments, while sellers many counties also seem to engaging in a six month wait-and-see strategy. Read more
This post continues the regional review of house prices with an analysis of four-bedroom homes in the different suburbs of Cork. It finds that Cork bucks the trend seen generally in the country and in Dublin and Galway cities that more expensive areas have fallen hardest. The largest falls in Cork have been in Glanmire. It then explores some of the likely explanations for these different regional trends. Read more
This post looks at what has happened house prices in various areas across Galway city. It finds clear evidence that the more expensive areas, like Salthill and Knocknacarra, not only peaked earlier but have also fallen by more – up to 30% from the peak so far. Read more
Evidence from tiered house price indices in the US suggests that cheaper districts have fallen by more since the boom ended. In Ireland, however, the opposite appears to be the case, as this post discusses. Asking prices for four-beds in Killiney have fallen over 35% in just over a year. Looking at four areas, two high-end (Dublin 6 and Blackrock) and two first-time-buyer (Lucan and Balbriggan) over a longer period shows again that 2009 has taken its toll on the top end much more so than more affordable areas. Read more
The latest Daft report was released this morning. It shows rents falling all around the country, good news no doubt for new and returning students. This post reviews some of the latest trends in the rental market, including the growing urban-rural divergence, the relative importance of confidence and affordability as factors determining rents, and the potential impact of over-construction on rents beyond the short term. Read more
NAMA will purchase assets based on current market value and longer term economic value. This post discusses both of these frameworks, with particular emphasis on the importance of the yield chosen by NAMA as ‘normal’, and outlines the impact NAMA may have on property prices for the next generation or two. Read more
The latest daft report shows that asking prices are now almost 25% below their 2007 peak but also shows regional differences, with prices in some areas falling twice as much as in others. This post explores the typical time a property spends on the market across the different parts of the country and the share of properties coming off the market in a particular month. Interesting regional trends emerge. Read more