Dublin rents fall during summer
Dublin People 19 Nov 2011
RENTS in Dublin fell by 0.4 per cent between June and
September this year according to the latest report from property website,
Daft.ie.
The average rent in Dublin during the third quarter of
2011 was
?¬1,050, down almost
?¬400 from the peak in 2007.
Despite the slight decrease rents in the capital are
0.8 per cent higher than they were this time last year.
Nationwide, rents were on average 0.2 per cent higher
in the third quarter of 2011 than a year previously,
In Dublin’s commuter counties, rents have fallen by
one pre cent over the past year, while elsewhere in the country, excluding
Cork, rents were typically static over the summer but are down 2-3 per cent on
the same time last year.
The average rent nationwide now stands at
?¬825, a fall
of 25 per cent from the peak in 2007.
Ronan Lyons, Economist at Daft.ie, said it’s
significant that rents have now effectively been static for almost two years.
“However, differences between urban and rural areas
persist, with greatest demand and smallest oversupply in Cork and Dublin in
particular,
? he added.
“The total stock of properties sitting on the rental
market fell from 20,000 on July 1 to 16,000 on November 1. This is mainly due
to a fall in properties in Dublin, where the stock has fallen by almost 60 per
cent in two years.
“Any reform of rent allowance may have an impact on
rents, especially in cheaper locations. Thus, the outlook for 2012 looks like
one of different trends in urban and rural markets.
?
The most expensive average rent for a Northside two
bedroom unit is now
?¬1,024 in Dublin 1. Rents for two beds in Dublin 7 are
?¬949
and
?¬929 in Dublin 9. Two beds in Dublin 11 are fetching
?¬870 while in Dublin
15 the average is
?¬910.
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