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.
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.
Yields are a vital indicator of the health of a property market. Dublin yields on residential property have fallen steadily from 7% in the late 1990s to about 3.5% in 2008. Realistically, they will need to settle at some level closer to 5.25%. With rents looking like falling 33% from peak values, this suggests a fall in house prices from peak values of 60%.
In this post, I take a look at the maths behind buying or renting. Amazingly, even in heady market of 2006, it was cheaper to buy than rent. With rates back down at very low rates, and generous mortgage interest relief, it is once again cheaper to buy than rent – and looks set to stay that way, unless there are significant changes to the tax system.
Annual savings for owning rather than renting, 2006-2009
The third and final (for 2008 anyway) instalment in the visualizations of Ireland’s property market takes a different look again to my recent posts on trends in prices and stock. Building on the measure of affordability on page 10 of each daft.ie rental report and a suggestion made on thepropertypin.com, it measures the gap between [...]
