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TRANSCRIPT
An analysis of recent trends in the Irish rental market2019 Q4 - Year in Review
The Daft.ie Rental Price Report
Introduction by Ronan Lyons, Assistant
Professor of Economics at Trinity College Dublin
“Rents have been rising because very high construction costs for apartments have made it unviable to build the thousands of new rental homes that are desperately needed around the country. A rent freeze would do nothing to solve the underlying problem of high build costs.”
Rent costs, not rent prices, the issue
Taking into account all rental markets nationwide,
rents in December were ever so slightly lower
(0.1%) than three months previously. This is the first
time since mid-2012 that rents have not risen
nationally in a given three-month period – ending an
extraordinary run of 29 consecutive quarters of
rental inflation.
However, there is a split between urban and rural
areas. In Dublin, rents rose 0.4% in those three
months and, taking the average of the four other
cities, rents rose by 0.7%. Outside the five main
cities, rents fell by 0.8% - with the largest falls seen in
Connacht and Ulster. Rents in Monaghan fell
by 2.8% in three months, for example, while they rose
by 1% in Cork city.
Even in urban areas, however, year-on-year rental
inflation has moderated significantly over the last
24 months. The annual increase in the national
average rent was above 10% from early 2016 all the
way through to late 2018. Inflation is still positive but,
at 4.1% nationally and 3.5% in Dublin, it is at
its lowest level since 2012.
It is, of course, impossible to view these figures and
not think of Election 2020. Housing became
perhaps the single most important issue in the
February 2020 election. Health was, of course, not far
behind. But it has been an issue for so many elections
now, it hard to see how that will have swung
many voters – the infamous comparison of Ireland’s
Department of Health to Angola dates back to
the 1990s.
No doubt to the dismay of the out-going Government,
the other candidate for main election issue –
Brexit – has apparently been deemed by voters to
have been more or less resolved. This is of course
far from the truth, with it very likely that the new
government will increasingly have to devote its
attention to the new EU-UK trade deal, as 2020
progresses.
But housing appears to have topped voters’ concerns.
And given what has happened in the Irish
housing system over the past decade, it is not hard to
see why. As outlined in the commentary on
the last report, after twin real and financial shocks to
the housing system starting in 2007, housing
moved gradually from problems of excess to
problems of scarcity.
This began in urban rental markets as far back as late
2009, when I noted in the commentary on the
Rental Report then that it looked as though Dublin
was running out of surplus accommodation.
Shortages of housing then subsequently spread
countrywide, in both sale and rental segments –
with the sales segment in some Munster markets
being the last to bottom out in 2014.
The second half of the 2010s saw a response, albeit a
weak one, from the supply side of the market,
with growing numbers of new homes built, year-on-
Ronan Lyons,Assistant Professor in Economics, TCD
The Daft.ie Rental Price Report – 2019 Q4 | 3
year. From a low of fewer than 5,000
completions in 2013 to more than 20,000 homes being
built in 2019. However, the bulk of those
homes – almost 90% – were either estate housing for
sale or one-off housing, most of which never
comes on the market.
So, ironically given where the problems of scarcity
emerged first over a decade ago, urban rental
markets are where those same problems persist
longest, as revealed by the figures in this latest
Rental Report.
There was much discussion throughout the brief
election campaign – and in the months leading up
to it – about the economic desirability and
constitutional feasibility of a rent freeze. Rent Pressure
Zones were introduced in 2016 and had an indirect but
easily foreseeable consequence on rental
inflation. By punishing landlords who had not
increased rents for sitting tenants in the years before
they were introduced, RPZs made it normal for the vast
majority of landlords to review their rent
each year, rather than more irregularly, thus making
4% increases the new normal. Politicians have
responded to this by arguing 0% should be the new
normal.
The problem with this logic is that it ignores why rents
are rising. Rents have been rising because
very high construction costs for apartments have
made it unviable to build the thousands of new
rental homes that are desperately needed around the
country. A rent freeze would do nothing to
solve the underlying problem of high build costs.
What rent controls do – and we have already seen this
with RPZs – is they turn the market into one
of insiders and outsiders. Before RPZs, those with
existing tenancies were enjoying smaller increases
as well as none of the hassle of having to move. This
gap between ‘stayers’ and ‘movers’ grew far
worse with RPZs, as seen in the dramatic increase in
lease length: even if it doesn’t suit you as much
any more, once you have a place, you keep it.
A rent freeze would just accentuate this. The most
vulnerable in the rental market – those new to
the city, those without networks, those who have to
move because of a change in household
circumstances and those subject to all forms of
conscious and unconscious bias – will lose out. Those
with good social networks, higher incomes and stable
circumstances will, once again, benefit. If that
is what the public wants from public policy, then fair
enough – but we should be explicit about it
rather than claim that this is a policy designed to help
those who need it.
What would have a far more serious negative impact is
if these rent freezes were somehow linked to
newly-built rental homes. This would, in effect, turn off
the supply tap overnight. We can see about
25,000 new rental homes on their way over the next
few years. While this is still small relative to the
gap between supply and demand, it will help.
To solve the rental crisis, the new Government needs
to tackle two things: high construction costs
and dysfunctional social housing policies. Neither
requires a rent freeze. Both will require an
investment by the taxpayer. If housing is indeed the
top issue for voters, then the new Government
has a mandate to make those investments.
4 | The Daft.ie Rental Price Report – 2019 Q4 The Daft.ie Rental Price Report – 2019 Q4 | 5
3,500On Febuary 1st 2020 there were
homes available to rent nationwideup 10% on the same date last year
Cork City€1,386 | 5.5%
Limerick City€1,217 | 3.9%
Galway City€1,309 | 5.6%
Waterford City€1,010 | 4.3%
North County€1,735 | 5.4%
South County€2,227 | 2.6%
West County€1,827 | 3.8%
South City€2,170 | 2.8%
City Centre€2,090 | 3.0%
North City€1,950 | 4.9%
South County€2,206 | 4.2%
West County€1,796 | 5.1%
DL€6624.5%
LM€6074.0%
CN€7603.7%
MN€8062.2%
LH€1,2373.3%
MH€1,3303.0%
KE€1,3483.1%
WW€1,4173.0%
LS€9907.4%
CW€9656.5%
WX€8583.4%
KK€9785.1%
CE€8647.9%
T€8445.4%
L€8968.3%
W€9587.7%
G€9345.3%
SO€7723.2%
RN€7194.5%
LD€7266.0%
MO€7443.5%
WH€1,0006.3%
OY€9175.0%
C€1,0165.5%
KY€8605.6%
Slow-down in rental inflation continuesRents in the final quarter of 2019 were 4.1% higher than a year previously, on average across the country, the lowest rate of inflation since late 2012. Nonetheless, compared to a year ago rents are still rising in each of the 54 markets covered in the Daft.ie Report. However, there is no longer any one of those 54 markets where inflation is above 10% - unlike a year ago, when half (27 of 54 markets) had double-digit inflation. The highest rate of rental inflation is in Limerick county (8.3%) while in Dublin 1 and in Dublin 20, rents are no higher than a year ago.
6 | The Daft.ie Rental Price Report – 2019 Q4 The Daft.ie Rental Price Report – 2019 Q4 | 7
Nationwide Average rental prices and Y-on-Y change
Dublin Average rental prices and Y-on-Y change
Ireland
€1,402 | 4.1%
€1,4022009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
January 119.9 103.2 99.8 99.0 102.0 109.7 120.4 132.1 148.9 164.8 180.2 188.5
February 116.8 102.3 100.6 98.8 103.3 111.1 121.7 132.4 150.7 168.3 181.6
March 114.3 102.1 100.3 98.6 103.4 112.3 122.2 133.7 151.7 170.0 183.1
April 112.3 101.5 100.2 98.4 104.0 113.3 123.2 134.5 152.5 170.5 184.1
May 110.6 101.1 100.1 98.8 103.7 114.6 124.2 138.9 154.3 174.1 184.6
June 109.1 100.5 99.8 99.0 103.6 115.3 125.2 140.4 155.7 175.3 186.0
July 107.7 100.4 100.3 99.6 105.4 116.3 126.7 140.7 157.3 175.4 185.6
August 107.3 101.4 100.3 100.6 106.7 117.3 128.3 143.7 160.1 177.6 186.8
September 106.2 101.1 99.7 100.7 107.4 118.3 129.6 145.4 160.7 179.0 187.1
October 104.7 100.7 99.1 100.7 107.9 118.8 130.2 146.5 161.3 178.3 186.8
November 102.6 99.1 98.3 101.5 107.7 119.6 129.7 148.3 163.6 179.2 185.3
December 101.7 98.9 98.7 101.2 108.3 119.9 130.5 148.3 164.4 179.6 187.0
Asking Prices, Residential Sales(2012 average = 100)
Daft.ie National Rent Index
Average Monthly Rent
8 | The Daft.ie Rental Price Report – 2019 Q4
Rents fall 0.1% between September and DecemberRents nationwide fell by an average of 0.1% in the final three months of 2020, the first fall in 30
quarters since mid-2012.
Stock on the market up 10%There were over 3,500 homes available to rent on
February 1st, up 10% on the same month a year
previously - in all but one of the months since January
2019, availability has improved.
Stock (lhs) Inflow (rhs) Outflow (rhs)
0
5000
10000
15000
20000
25000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
The index is based on listed rents for properties advertised to let on Daft.ie. Figures are calculated from econometric regressions, which calculate changes in price that are independent of changes in observable measures of quality, such as location, size and type.
The Daft.ie Rental Price Report – 2019 Q4 | 9
Stock of properties to rent on Daft.ie (start of month) and flow of new properties to rent
An urban-rural splitWhile the national average was a fall, rents rose in the
final three months of the year in urban areas, including
Dublin (0.4%), Cork (1.0%) and Galway (0.8%).
Daft.ie Snapshot ofRents Nationwide
OTH
ER C
ITIE
S
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Dublin 1 €1,585 0.0% €1,923 0.0% €2,430 1.5% €2,998 0.5% €3,278 -7.0%
Dublin 2 €1,895 4.0% €2,256 3.3% €2,674 3.3% €3,215 3.8% €3,739 2.0%
Dublin 3 €1,628 4.3% €1,911 3.9% €2,222 4.7% €2,532 3.7% €2,920 8.3%
Dublin 4 €1,967 0.5% €2,274 1.4% €2,627 2.2% €3,010 3.8% €3,037 -1.0%
Dublin 5 €1,551 8.6% €1,752 5.7% €2,024 4.9% €2,216 5.3% €2,391 3.6%
Dublin 6 €1,875 5.9% €2,118 3.1% €2,448 2.3% €2,680 2.7% €2,891 1.0%
Dublin 6W €1,662 6.6% €1,877 3.7% €2,169 3.0% €2,375 3.4% €2,562 1.6%
Dublin 7 €1,669 7.9% €1,885 4.9% €2,178 4.2% €2,384 4.6% €2,573 2.9%
Dublin 8 €1,741 7.4% €1,967 4.5% €2,272 3.8% €2,488 4.2% €2,684 2.4%
Dublin 9 €1,581 10.2% €1,786 7.2% €2,063 6.4% €2,259 6.8% €2,437 5.0%
Dublin 10 €1,441 2.2% €1,628 -0.6% €1,881 -1.3% €2,059 -0.9% €2,221 -2.6%
Dublin 11 €1,462 9.5% €1,652 6.5% €1,909 5.8% €2,089 6.2% €2,254 4.4%
Dublin 12 €1,554 8.9% €1,755 5.9% €2,028 5.2% €2,220 5.6% €2,396 3.8%
Dublin 13 €1,532 9.0% €1,731 6.0% €2,000 5.3% €2,189 5.7% €2,362 3.9%
Dublin 14 €1,661 7.5% €1,877 4.6% €2,168 3.8% €2,374 4.2% €2,561 2.5%
Dublin 15 €1,404 8.2% €1,586 5.3% €1,833 4.6% €2,007 4.9% €2,165 3.2%
Dublin 16 €1,528 8.7% €1,726 5.7% €1,995 5.0% €2,184 5.4% €2,356 3.6%
Dublin 17 €1,459 9.5% €1,648 6.6% €1,904 5.8% €2,085 6.2% €2,249 4.4%
Dublin 18 €1,669 6.6% €1,885 3.7% €2,178 3.0% €2,385 3.4% €2,573 1.7%
Dublin 20 €1,445 2.3% €1,633 -0.5% €1,886 -1.2% €2,065 -0.8% €2,228 -2.5%
Dublin 22 €1,380 6.8% €1,559 3.9% €1,801 3.2% €1,972 3.6% €2,127 1.8%
Dublin 24 €1,405 8.2% €1,587 5.3% €1,834 4.6% €2,008 5.0% €2,166 3.2%
North Co Dublin €1,324 9.1% €1,495 6.2% €1,728 5.4% €1,891 5.8% €2,041 4.1%
South Co Dublin €1,715 6.1% €1,937 3.3% €2,238 2.5% €2,450 2.9% €2,644 1.2%
West Dublin €1,363 7.8% €1,539 4.9% €1,779 4.2% €1,947 4.6% €2,101 2.8%
Cork City €1,060 8.7% €1,186 5.8% €1,370 5.0% €1,500 5.4% €1,618 3.7%
Galway City €978 9.0% €1,093 6.1% €1,263 5.3% €1,383 5.7% €1,492 4.0%
Limerick City €904 6.7% €1,010 3.8% €1,167 3.1% €1,278 3.5% €1,379 1.8%
Waterford City €758 7.5% €848 4.6% €980 3.8% €1,073 4.2% €1,157 2.5%
DU
BLI
N
10 | The Daft.ie Rental Price Report – 2019 Q4
LEIN
STER
MU
NST
ERCO
NN
ACH
TU
LSTE
R
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Meath €966 6.6% €1,100 3.5% €1,271 2.8% €1,392 3.2% €1,502 1.4%
Kildare €990 6.7% €1,128 3.6% €1,303 2.9% €1,426 3.2% €1,539 1.5%
Wicklow €1,056 6.3% €1,202 3.2% €1,389 2.5% €1,521 2.8% €1,641 1.1%
Louth €905 6.9% €1,030 3.8% €1,190 3.0% €1,303 3.4% €1,406 1.7%
Longford €539 9.8% €613 6.6% €709 5.8% €776 6.2% €837 4.4%
Offaly €666 8.5% €758 5.3% €876 4.5% €959 4.9% €1,035 3.2%
Westmeath €728 9.6% €829 6.4% €958 5.7% €1,049 6.1% €1,132 4.3%
Laois €722 11.5% €822 8.2% €950 7.4% €1,040 7.8% €1,122 6.1%
Carlow €694 10.2% €790 7.0% €912 6.2% €999 6.6% €1,078 4.8%
Kilkenny €703 8.7% €801 5.5% €925 4.8% €1,013 5.2% €1,093 3.4%
Wexford €624 6.7% €711 3.6% €821 2.9% €899 3.2% €970 1.5%
Waterford Co €674 10.6% €760 7.1% €878 6.3% €962 6.7% €1,038 5.0%
Kerry €602 8.0% €679 4.6% €785 3.8% €859 4.2% €927 2.5%
Cork Co €719 7.8% €811 4.3% €937 3.6% €1,026 4.0% €1,107 2.3%
Clare €607 10.5% €685 7.0% €792 6.2% €867 6.6% €935 4.9%
Limerick Co €618 10.7% €697 7.2% €805 6.5% €881 6.8% €951 5.1%
Tipperary €594 8.1% €670 4.7% €775 3.9% €848 4.3% €915 2.6%
Galway Co €669 8.8% €767 6.3% €887 5.6% €971 6.0% €1,047 4.2%
Mayo €535 6.9% €614 4.5% €710 3.8% €777 4.2% €838 2.5%
Roscommon €512 8.3% €588 5.9% €679 5.2% €743 5.5% €802 3.8%
Sligo €570 6.8% €653 4.4% €755 3.7% €827 4.0% €892 2.3%
Leitrim €460 8.2% €528 5.8% €610 5.0% €668 5.4% €721 3.7%
Donegal €481 8.7% €552 6.3% €638 5.5% €698 5.9% €753 4.2%
Cavan €546 8.3% €626 5.9% €724 5.1% €793 5.5% €855 3.8%
Monaghan €589 5.6% €675 3.3% €780 2.6% €854 3.0% €922 1.3%
The Daft.ie Rental Price Report – 2019 Q4 | 11
What can I ask for? Can I afford it? Average monthly rents across Ireland (€), and annual change (%), 2019 Q4
OTH
ER C
ITIE
S
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Dublin 1 8.3% -0.2% 7.1% 0.1% 6.9% 0.2% 5.8% -0.2% 5.3% -0.3%
Dublin 2 7.0% 0.3% 6.4% 0.3% 6.1% 0.3% 4.9% 0.0% 5.4% 0.6%
Dublin 3 7.0% -0.3% 6.0% 0.0% 5.7% 0.3% 4.1% -0.1% 4.1% 0.3%
Dublin 4 6.9% -0.8% 5.8% -0.1% 4.7% 0.2% 3.4% 0.1% 3.0% 0.0%
Dublin 5 9.3% 0.8% 7.7% 0.6% 6.4% 0.3% 4.1% 0.0% 4.0% -0.1%
Dublin 6 6.5% 0.5% 5.4% 0.4% 4.5% 0.1% 2.9% -0.1% 2.8% -0.1%
Dublin 6W 7.7% 0.8% 6.4% 0.6% 5.3% 0.3% 3.4% 0.0% 3.3% 0.0%
Dublin 7 9.4% 1.1% 7.8% 0.9% 6.5% 0.5% 4.2% 0.1% 4.1% 0.1%
Dublin 8 9.8% 1.3% 8.1% 1.0% 6.8% 0.6% 4.4% 0.2% 4.2% 0.2%
Dublin 9 9.5% 1.2% 7.8% 1.0% 6.5% 0.6% 4.2% 0.2% 4.1% 0.1%
Dublin 10 12.7% 0.8% 10.5% 0.5% 8.8% 0.1% 5.6% -0.2% 5.5% -0.3%
Dublin 11 11.5% 1.5% 9.5% 1.2% 7.9% 0.7% 5.1% 0.2% 5.0% 0.2%
Dublin 12 10.7% 1.5% 8.9% 1.1% 7.4% 0.7% 4.7% 0.2% 4.6% 0.2%
Dublin 13 9.1% 1.0% 7.6% 0.8% 6.3% 0.4% 4.0% 0.1% 4.0% 0.0%
Dublin 14 7.9% 1.0% 6.6% 0.8% 5.5% 0.5% 3.5% 0.1% 3.4% 0.1%
Dublin 15 10.7% 1.2% 8.9% 0.9% 7.4% 0.5% 4.8% 0.1% 4.6% 0.1%
Dublin 16 8.5% 1.0% 7.0% 0.8% 5.9% 0.4% 3.8% 0.1% 3.7% 0.1%
Dublin 17 12.7% 1.1% 10.5% 0.8% 8.7% 0.4% 5.6% 0.0% 5.5% -0.1%
Dublin 18 8.6% 1.2% 7.1% 1.0% 6.0% 0.6% 3.8% 0.2% 3.7% 0.2%
Dublin 20 9.8% 0.9% 8.1% 0.7% 6.7% 0.3% 4.3% 0.0% 4.2% -0.1%
Dublin 22 12.7% 1.3% 10.5% 0.9% 8.8% 0.5% 5.6% 0.0% 5.5% 0.0%
Dublin 24 11.8% 1.1% 9.8% 0.8% 8.2% 0.4% 5.2% 0.0% 5.1% 0.0%
North Co Dublin 10.1% 1.2% 8.4% 0.9% 7.0% 0.5% 4.5% 0.1% 4.4% 0.1%
South Co Dublin 7.4% 1.0% 6.2% 0.7% 5.1% 0.5% 3.3% 0.1% 3.2% 0.1%
West Dublin 11.0% 1.2% 9.1% 0.9% 7.6% 0.5% 4.9% 0.1% 4.8% 0.0%
Cork City 10.5% 0.9% 8.8% 0.5% 7.0% 0.5% 4.3% -0.1% 3.9% 0.0%
Galway City 10.1% 1.0% 8.5% 0.6% 6.7% 0.5% 4.1% 0.0% 3.8% 0.0%
Limerick City 12.0% 0.6% 10.1% 0.2% 8.0% 0.2% 4.9% -0.3% 4.5% -0.2%
Waterford City 11.6% 0.6% 9.7% 0.3% 7.7% 0.2% 4.7% -0.3% 4.3% -0.2%
DU
BLI
N
12 | The Daft.ie Rental Price Report – 2019 Q4
LEIN
STER
MU
NST
ERCO
NN
ACH
TU
LSTE
R
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Meath 11.2% 1.1% 9.8% 0.8% 8.1% 0.3% 4.5% 0.1% 4.6% 0.0%
Kildare 11.1% 1.2% 9.6% 0.9% 8.0% 0.4% 4.5% 0.2% 4.5% 0.1%
Wicklow 9.7% 1.3% 8.4% 1.0% 7.0% 0.5% 3.9% 0.3% 4.0% 0.1%
Louth 12.2% 1.5% 10.6% 1.1% 8.9% 0.6% 4.9% 0.3% 5.0% 0.1%
Longford 13.2% 2.0% 11.5% 1.6% 9.6% 1.0% 5.4% 0.5% 5.4% 0.3%
Offaly 11.5% 1.8% 10.0% 1.4% 8.3% 0.8% 4.7% 0.4% 4.7% 0.3%
Westmeath 11.0% 1.3% 9.5% 0.9% 7.9% 0.5% 4.4% 0.2% 4.5% 0.1%
Laois 12.4% 2.0% 10.8% 1.5% 9.0% 0.9% 5.0% 0.5% 5.1% 0.3%
Carlow 11.7% 1.9% 10.2% 1.5% 8.5% 1.0% 4.7% 0.5% 4.8% 0.4%
Kilkenny 10.6% 1.7% 9.2% 1.4% 7.7% 0.9% 4.3% 0.4% 4.3% 0.3%
Wexford 10.2% 1.3% 8.9% 1.0% 7.4% 0.5% 4.1% 0.3% 4.2% 0.1%
Waterford Co 8.8% 0.4% 8.3% 0.4% 6.9% 0.1% 3.8% 0.0% 3.9% -0.2%
Kerry 9.1% 0.4% 8.7% 0.3% 7.2% 0.0% 4.0% 0.0% 4.1% -0.2%
Cork Co 9.4% 0.5% 8.9% 0.4% 7.4% 0.1% 4.1% 0.1% 4.2% -0.1%
Clare 9.3% 0.6% 8.8% 0.6% 7.4% 0.2% 4.1% 0.1% 4.2% -0.1%
Limerick Co 10.2% 1.1% 9.7% 1.0% 8.1% 0.6% 4.5% 0.3% 4.6% 0.1%
Tipperary 9.8% 0.6% 9.3% 0.6% 7.8% 0.2% 4.3% 0.1% 4.4% -0.1%
Galway Co 11.4% -0.3% 10.8% 0.9% 9.0% 0.4% 4.7% -0.1% 5.1% 0.0%
Mayo 10.9% 0.0% 10.4% 1.1% 8.7% 0.5% 4.5% 0.1% 4.9% 0.1%
Roscommon 12.3% -0.1% 11.7% 1.2% 9.8% 0.6% 5.1% 0.0% 5.5% 0.1%
Sligo 11.2% -0.9% 10.7% 0.4% 8.9% -0.1% 4.7% -0.3% 5.0% -0.2%
Leitrim 11.0% 0.2% 10.4% 1.3% 8.7% 0.8% 4.6% 0.2% 4.9% 0.3%
Donegal 10.8% -0.1% 10.3% 1.1% 8.6% 0.5% 4.5% 0.0% 4.8% 0.1%
Cavan 11.6% 0.0% 11.1% 1.2% 9.3% 0.6% 4.9% 0.1% 5.2% 0.2%
Monaghan 10.6% -0.7% 10.1% 0.5% 8.4% 0.0% 4.4% -0.2% 4.7% -0.2%
National Average 9.9% 0.8% 9.0% 0.8% 7.7% 0.4% 4.4% 0.1% 4.5% 0.0%
The Daft.ie Rental Price Report – 2019 Q4 | 13
Daft.ie Snapshot of YieldsThe yield is the ratio of annual rents to the price of the property.
It is comparable to an interest rate and is frequently used as a measure of how healthy the property market is. Gross annual yields across Ireland (%), and year-on-year change (in percentage points), 2019 Q4
OTH
ER C
ITIE
S
Mortgage M + 2% Rent
Dublin 1 €870 €1,100 €1,585
Dublin 2 €1,234 €1,560 €1,895
Dublin 3 €1,070 €1,353 €1,628
Dublin 4 €1,297 €1,640 €1,967
Dublin 5 €760 €962 €1,551
Dublin 6 €1,312 €1,659 €1,875
Dublin 6W €992 €1,255 €1,662
Dublin 7 €811 €1,025 €1,669
Dublin 8 €813 €1,028 €1,741
Dublin 9 €765 €967 €1,581
Dublin 10 €520 €657 €1,441
Dublin 11 €584 €738 €1,462
Dublin 12 €666 €842 €1,554
Dublin 13 €769 €972 €1,532
Dublin 14 €958 €1,211 €1,661
Dublin 15 €600 €758 €1,404
Dublin 16 €824 €1,043 €1,528
Dublin 17 €526 €666 €1,459
Dublin 18 €885 €1,120 €1,669
Dublin 20 €676 €855 €1,445
Dublin 22 €496 €627 €1,380
Dublin 24 €544 €688 €1,405
North Co Dublin €601 €760 €1,324
South Co Dublin €1,057 €1,337 €1,715
West Dublin €568 €719 €1,363
Cork City €462 €585 €1,060
Galway City €444 €561 €978
Limerick City €344 €435 €904
Waterford City €300 €379 €758
Mortgage M + 2% Rent
€1,248 €1,578 €1,923
€1,621 €2,050 €2,256
€1,449 €1,832 €1,911
€1,784 €2,256 €2,274
€1,037 €1,311 €1,752
€1,790 €2,263 €2,118
€1,353 €1,711 €1,877
€1,106 €1,399 €1,885
€1,108 €1,402 €1,967
€1,043 €1,319 €1,786
€709 €896 €1,628
€796 €1,007 €1,652
€908 €1,148 €1,755
€1,048 €1,326 €1,731
€1,306 €1,651 €1,877
€818 €1,034 €1,586
€1,125 €1,422 €1,726
€718 €908 €1,648
€1,208 €1,527 €1,885
€922 €1,166 €1,633
€677 €856 €1,559
€742 €939 €1,587
€819 €1,036 €1,495
€1,442 €1,823 €1,937
€775 €980 €1,539
€617 €780 €1,186
€592 €748 €1,093
€459 €581 €1,010
€400 €506 €848
Mortgage M + 2% Rent
€1,614 €2,040 €2,430
€2,023 €2,558 €2,674
€1,792 €2,266 €2,222
€2,543 €3,216 €2,627
€1,440 €1,821 €2,024
€2,484 €3,141 €2,448
€1,879 €2,376 €2,169
€1,535 €1,941 €2,178
€1,539 €1,946 €2,272
€1,448 €1,831 €2,063
€984 €1,244 €1,881
€1,105 €1,397 €1,909
€1,261 €1,594 €2,028
€1,455 €1,840 €2,000
€1,813 €2,292 €2,168
€1,135 €1,436 €1,833
€1,561 €1,974 €1,995
€997 €1,260 €1,904
€1,677 €2,120 €2,178
€1,280 €1,619 €1,886
€939 €1,188 €1,801
€1,030 €1,303 €1,834
€1,138 €1,438 €1,728
€2,002 €2,531 €2,238
€1,076 €1,361 €1,779
€895 €1,132 €1,370
€859 €1,086 €1,263
€667 €843 €1,167
€580 €734 €980
Mortgage M + 2% Rent
€2,353 €2,975 €2,998
€2,976 €3,763 €3,215
€2,839 €3,589 €2,532
€4,089 €5,170 €3,010
€2,451 €3,099 €2,216
€4,229 €5,347 €2,680
€3,198 €4,044 €2,375
€2,614 €3,305 €2,384
€2,619 €3,312 €2,488
€2,465 €3,117 €2,259
€1,675 €2,117 €2,059
€1,881 €2,378 €2,089
€2,146 €2,713 €2,220
€2,478 €3,133 €2,189
€3,086 €3,902 €2,374
€1,933 €2,444 €2,007
€2,657 €3,360 €2,184
€1,697 €2,145 €2,085
€2,854 €3,608 €2,385
€2,179 €2,755 €2,065
€1,599 €2,022 €1,972
€1,754 €2,218 €2,008
€1,936 €2,448 €1,891
€3,407 €4,308 €2,450
€1,832 €2,316 €1,947
€1,615 €2,042 €1,500
€1,550 €1,960 €1,383
€1,203 €1,521 €1,278
€1,047 €1,324 €1,073
Mortgage M + 2% Rent
€2,814 €3,558 €3,278
€3,174 €4,014 €3,739
€3,291 €4,162 €2,920
€4,629 €5,854 €3,037
€2,708 €3,424 €2,391
€4,672 €5,908 €2,891
€3,533 €4,468 €2,562
€2,888 €3,651 €2,573
€2,894 €3,659 €2,684
€2,724 €3,444 €2,437
€1,850 €2,339 €2,221
€2,078 €2,628 €2,254
€2,371 €2,998 €2,396
€2,737 €3,461 €2,362
€3,410 €4,311 €2,561
€2,135 €2,700 €2,165
€2,936 €3,712 €2,356
€1,875 €2,370 €2,249
€3,153 €3,987 €2,573
€2,407 €3,044 €2,228
€1,767 €2,234 €2,127
€1,938 €2,451 €2,166
€2,139 €2,705 €2,041
€3,764 €4,760 €2,644
€2,024 €2,559 €2,101
€1,887 €2,386 €1,618
€1,811 €2,290 €1,492
€1,406 €1,777 €1,379
€1,224 €1,547 €1,157
DU
BLI
N
14 | The Daft.ie Rental Price Report – 2019 Q4 The Daft.ie Rental Price Report – 2019 Q4 | 15
To Buy or to Rent?Using the Daft.ie Sale and Rental reports, it is possible to calculate the average mortgage payment as well as the average rent, for properties around the country.
Current mortgage repayments based off the following parameters: 3.5% variable mortgage, for a term of 30 years, with 85% LTV, while a figure is also given for the case where mortgage rates rise by two percentage points. Average mortgage and rent payments compared, across Ireland, 2019 Q4.
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
LEIN
STER
MU
NST
ERCO
NN
ACH
TU
LSTE
R
Mortgage M + 2% Rent
Meath €394 €499 €966
Kildare €410 €519 €990
Wicklow €501 €634 €1,056
Louth €339 €429 €905
Longford €186 €236 €539
Offaly €265 €335 €666
Westmeath €304 €385 €728
Laois €266 €337 €722
Carlow €271 €343 €694
Kilkenny €305 €385 €703
Wexford €281 €355 €624
Waterford Co €352 €445 €674
Kerry €302 €381 €602
Cork Co €352 €445 €719
Clare €298 €377 €607
Limerick Co €276 €349 €618
Tipperary €277 €351 €594
Galway Co €269 €341 €669
Mayo €225 €284 €535
Roscommon €191 €241 €512
Sligo €232 €294 €570
Leitrim €192 €243 €460
Donegal €204 €258 €481
Cavan €215 €271 €546
Monaghan €255 €322 €589
Mortgage M + 2% Rent
€517 €653 €1,100
€537 €680 €1,128
€657 €831 €1,202
€444 €562 €1,030
€244 €309 €613
€347 €439 €758
€399 €504 €829
€349 €441 €822
€356 €450 €790
€399 €505 €801
€368 €465 €711
€419 €530 €760
€359 €454 €679
€419 €530 €811
€355 €449 €685
€329 €416 €697
€330 €417 €670
€325 €411 €767
€271 €343 €614
€230 €291 €588
€281 €355 €653
€232 €293 €528
€246 €311 €552
€259 €328 €626
€308 €389 €675
Mortgage M + 2% Rent
€716 €905 €1,271
€745 €942 €1,303
€910 €1,151 €1,389
€615 €778 €1,190
€339 €428 €709
€481 €609 €876
€553 €699 €958
€484 €611 €950
€493 €623 €912
€553 €699 €925
€510 €644 €821
€581 €734 €878
€497 €629 €785
€580 €733 €937
€491 €621 €792
€455 €576 €805
€457 €578 €775
€449 €568 €887
€375 €474 €710
€319 €403 €679
€388 €490 €755
€321 €405 €610
€340 €430 €638
€358 €453 €724
€425 €538 €780
Mortgage M + 2% Rent
€1,403 €1,774 €1,392
€1,459 €1,845 €1,426
€1,784 €2,255 €1,521
€1,206 €1,525 €1,303
€664 €839 €776
€943 €1,193 €959
€1,083 €1,369 €1,049
€948 €1,198 €1,040
€966 €1,221 €999
€1,084 €1,370 €1,013
€999 €1,263 €899
€1,152 €1,457 €962
€987 €1,247 €859
€1,151 €1,456 €1,026
€975 €1,233 €867
€903 €1,142 €881
€907 €1,147 €848
€938 €1,186 €971
€783 €990 €777
€665 €840 €743
€809 €1,023 €827
€669 €846 €668
€710 €898 €698
€747 €945 €793
€887 €1,122 €854
Mortgage M + 2% Rent
€1,491 €1,885 €1,502
€1,550 €1,960 €1,539
€1,895 €2,396 €1,641
€1,281 €1,620 €1,406
€705 €891 €837
€1,002 €1,267 €1,035
€1,150 €1,454 €1,132
€1,007 €1,273 €1,122
€1,026 €1,298 €1,078
€1,151 €1,456 €1,093
€1,061 €1,342 €970
€1,205 €1,524 €1,038
€1,032 €1,305 €927
€1,204 €1,522 €1,107
€1,020 €1,290 €935
€945 €1,195 €951
€949 €1,200 €915
€948 €1,198 €1,047
€791 €1,000 €838
€672 €849 €802
€818 €1,034 €892
€676 €855 €721
€718 €908 €753
€755 €955 €855
€897 €1,134 €922
16 | The Daft.ie Rental Price Report – 2019 Q4 The Daft.ie Rental Price Report – 2019 Q4 | 17
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
To Buy or to Rent?Using the Daft.ie Sale and Rental reports, it is possible to calculate the average mortgage payment as well as the average rent, for properties around the country.
Current mortgage repayments based off the following parameters: 3.5% variable mortgage, for a term of 30 years, with 85% LTV, while a figure is also given for the case where mortgage rates rise by two percentage points. Average mortgage and rent payments compared, across Ireland, 2019 Q4.
18 | The Daft.ie Rental Price Report – 2019 Q4
Rents rise 3.5% Y-o-YRents in Dublin were 3.5% higher in the final quarter of 2019 than a year earlier - the slowest rate of increase since mid-2012.
Final-quarter gainsIn each of the six markets in Dublin, rents rose between September and December, albeit modestly - unlike many parts of the country.
DublinInflation continues to cool
3.5%
North CountyAverage rent: €1,735
Qtr-on-qtr change: 0.4%Year-on-year change: 5.4%
Change from trough: 101.9%
West CountyAverage rent: €1,827
Qtr-on-qtr change: 0.6%Year-on-year change: 3.8%
Change from trough: 103.0%
South CountyAverage rent: €2,227
Qtr-on-qtr change: 0.1%Year-on-year change: 2.6%
Change from trough: 90.1%
North CityAverage rent: €1,950Qtr-on-qtr change: 0.7%Year-on-year change: 4.9%Change from trough: 109.4%
City CentreAverage rent: €2,090Qtr-on-qtr change: 0.3%Year-on-year change: 3.0%Change from trough: 112.9%
South CityAverage rent: €2,170Qtr-on-qtr change: 0.2%Year-on-year change: 2.8%Change from trough: 100.1%
The Daft.ie Rental Price Report – 2019 Q4 | 19
Availability improves slightlyThere were 1,600 properties available to rent in Dublin on Febuary 1, 17% more than the same date a year previously.
5% increase in room costsThe cost of a single or double room in Dublin was roughly 5% higher in the final quarter of 2019 than a year earlier.
5%
Dublin Trends Q4 2019
Q42006
Q42007
Q42008
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Q42015
Q42016
Q42017
Q42018
Q42019
North Dublin City South Dublin City North County Dublin South County Dublin West County DublinDublin City Centre
Average rental price by area, 2006-2019.
€500
€1,000
€1,500
€2,000
€2,500SINGLE BEDROOM
€ 731
€ 593
€ 622
€ 529
€ 614
€ 537
10.6%
5.7%
5.6%
5.0%
3.7%
7.2%
AREAS AVG. RENT % CHANGE YoY
€ 824
€ 713
€ 756
€ 648
€ 741
€ 653
5.1%
3.5%
2.6%
4.2%
2.9%
4.1%
AVG. RENT % CHANGE YoY
Dublin City Centre
North Dublin City
South Dublin City
North Co. Dublin
South Co. Dublin
West Co. Dublin
DOUBLE BEDROOM
Rent-a-Room Trends Q4 2019
LeinsterRents up 4% year-on-year
20 | The Daft.ie Rental Price Report – 2019
Final-quarter fallBetween September and December, rents in Leinster, outside Dublin, fell by an average of 0.1% - the first fall recorded in the region since 2012.
Doubling of rentsCompared to a year ago, rents in Leinster are 3.9% higher - and an average of 88% higher than their low, although this increase varies substantially across the province.
The Daft.ie Rental Price Report – 2019 Q4 | 21
LouthAverage Price: €220,272Qtr-on-qtr change: 2.3%Year-on-year change: 4.9%Change from trough: 72.7%
MeathAverage Price: €268,834Qtr-on-qtr change: 2.5%Year-on-year change: 7.0%Change from trough: 79.0%
KildareAverage Price: €266,430Qtr-on-qtr change: 1.7%Year-on-year change: 3.9%Change from trough: 69.9%
WicklowAverage Price: €339,559Qtr-on-qtr change: 1.7%Year-on-year change: 4.6%Change from trough: 67.0%
WexfordAverage Price: €209,969Qtr-on-qtr change: 1.5%Year-on-year change: 5.2%Change from trough: 68.0%
LongfordAverage Price: €142,501Qtr-on-qtr change: 4.0%
Year-on-year change: 10.0%Change from trough: 69.1%
WestmeathAverage Price: €204,729Qtr-on-qtr change: 2.1%
Year-on-year change: 8.6%Change from trough: 73.4%
OffalyAverage Price: €188,808Qtr-on-qtr change: 1.1%
Year-on-year change: 6.9%Change from trough: 56.3%
LaoisAverage Price: €181,149Qtr-on-qtr change: 2.5%
Year-on-year change: 9.4%Change from trough: 74.7%
KilkennyAverage Price: €224,161Qtr-on-qtr change: 1.4%
Year-on-year change: 4.8%Change from trough: 69.4%
CarlowAverage Price: €193,711Qtr-on-qtr change: 2.1%
Year-on-year change: 10.4%From trough: 65.5%
LongfordAverage rent: €726
Qtr-on-qtr change: 0.6%Year-on-year change: 6.0%
Change from trough: 80.1%
WestmeathAverage rent: €1,000
Qtr-on-qtr change: 0.1%Year-on-year change: 6.3%
Change from trough: 89.8%
OffalyAverage rent: €917
Qtr-on-qtr change: 0.2%Year-on-year change: 5.0%
Change from trough: 73.4%
LaoisAverage rent: €990
Qtr-on-qtr change: 1.0%Year-on-year change: 7.4%
Change from trough: 96.4%
KilkennyAverage rent: €978
Qtr-on-qtr change: 0.3%Year-on-year change: 5.1%
Change from trough: 71.4%
CarlowAverage rent: €965
Qtr-on-qtr change: 0.3%Year-on-year change: 6.5%Change from trough: 62.8%
LouthAverage rent: €1,237Qtr-on-qtr change: 0.0%Year-on-year change: 3.3%Change from trough: 102.6%
MeathAverage rent: €1,330Qtr-on-qtr change: -0.3%Year-on-year change: 3.0%Change from trough: 105.9%
KildareAverage rent: €1,348Qtr-on-qtr change: -0.1%Year-on-year change: 3.1%Change from trough: 92.0%
WicklowAverage rent: €1,417Qtr-on-qtr change: -0.3%Year-on-year change: 3.0%Change from trough: 83.5%
WexfordAverage rent: €858Qtr-on-qtr change: -0.6%Year-on-year change: 3.4%Change from trough: 58.4%
Stock on market upThere were 745 properties available to rent in Leinster (outside Dublin) on February 1, up roughly a quarter from the 595 available a year ago.
Room costs rise 6%The average cost of a rented room in Leinster, outside Dublin, rose by an average of 5.7% in the year to December 2019.
745
SINGLE BEDROOM
€ 468
€ 337
€ 382
4.3%
9.9%
9.5%
AREAS AVG. RENT % CHANGE YoY
€ 541
€ 404
€ 421
4.4%
2.1%
3.9%
AVG. RENT % CHANGE YoY
Dublin Commuter Counties
West Leinster
South-East Leinster
DOUBLE BEDROOM
Leinster Trends Q4 2019
Average rental price by area, 2006-2019.
Q42006
Q42007
Q42008
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Q42015
Q42016
Q42017
Q42018
Q42019
Dublin Commuter Counties West Leinster South-East Leinster
€400
€600
€800
€1,000
€1,200
€1,400
0.1%
Rent-a-Room Trends Q4 2019
MunsterRural rents fall
22 | The Daft.ie Rental Price Report – 2019
Rural rents down 1%Between September and December, rents in Munster outside the three cities fell by an average of 1.2%, the first recorded fall since late 2013.
Easing inflationIn Cork and Waterford cities, rents rose in the final quarter - although across the province, annual rates of inflation have cooled significantly in the last year.
ClareAverage rent: €864
Qtr-on-qtr change: -0.7%Year-on-year change: 7.9%
Change from trough: 64.1%
Limerick CountyAverage rent: €896
Qtr-on-qtr change: -1.2%Year-on-year change: 8.3%
Change from trough: 59.0%
KerryAverage rent: €860
Qtr-on-qtr change: -1.6%Year-on-year change: 5.6%
Change from trough: 57.0%
Cork CountyAverage rent: €1,016
Qtr-on-qtr change: -1.5%Year-on-year change: 5.5%
Change from trough: 74.3%Cork City
Average rent: €1,386Qtr-on-qtr change: 1.0%
Year-on-year change: 5.5%Change from trough: 94.0%
TipperaryAverage rent: €844Qtr-on-qtr change: -1.1%Year-on-year change: 5.4%Change from trough: 49.6%
Limerick CityAverage rent: €1,217Qtr-on-qtr change: -0.1%Year-on-year change: 3.9%Change from trough: 100.1%
Waterford CountyAverage rent: €958Qtr-on-qtr change: -0.4%Year-on-year change: 7.7%Change from trough: 68.4%
Waterford CityAverage rent: €1,010Qtr-on-qtr change: 0.3%Year-on-year change: 4.3%Change from trough: 80.0%
The Daft.ie Rental Price Report – 2019 Q4 |
Availability falls backThere were 633 homes available to rent across Munster on February 1, down 5.5% on a year ago, ending a run of 8 months of improving supply.
Room costs continue to riseThe cost of renting a room in Munster was on average 8.5% higher in the final quarter of 2019 than a year earlier.
8.5%1 FEB633
SINGLE BEDROOM
€ 545
€ 438
€ 442
€ 445
€ 379
€ 365
€ 340
17.7%
3.5%
10.8%
20.6%
4.7%
4.6%
7.9%
AREAS AVG. RENT % CHANGE YoY
€ 607
€ 536
€ 518
€ 478
€ 440
€ 397
€ 384
7.1%
5.7%
8.6%
3.2%
7.8%
9.1%
7.9%
AVG. RENT % CHANGE YoY
Cork City Centre
Cork City Suburbs
Cork Commuter Towns
Limerick City Centre
Limerick City Suburbs
Waterford City Centre
Rest of Munster
DOUBLE BEDROOM
Munster Trends Q4 2019
Cork City Limerick City Waterford City Rest-of-Munster
Average rental price by area, 2006-2019.
Q42006
Q42007
Q42008
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Q42015
Q42016
Q42017
Q42018
Q42019
€400
€600
€800
€1,000
€1,200
€1,400
€400
€600
€800
€1,000
€1,200
€1,400
1.2%
Rent-a-Room Trends Q4 2019
Connacht/UlsterRents fall in late 2019
2% fall in rentsIn Connacht and Ulster, outside Galway city, rents fell by an average of 1.9% between September and December, the first fall in four years
Galway rents upIn Galway city, rents rose by 0.8% in the final quarter of the year and are now 99% higher than their lowest point in early 2012.
24 | The Daft.ie Rental Price Report – 2019
LeitrimAverage Price: €137,038Qtr-on-qtr change: 1.8%Year-on-year change: 10.9%Change from trough: 59.5%
MonaghanAverage Price: €174,870Qtr-on-qtr change: 3.3%Year-on-year change: 6.5%Change from trough: 53.2%
CavanAverage Price: €162,757Qtr-on-qtr change: 3.9%Year-on-year change: 10.2%Change from trough: 58.4%
RoscommonAverage Price: €145,652Qtr-on-qtr change: 4.9%Year-on-year change: 9.0%Change from trough: 58.9%
DonegalAverage Price: €145,691Qtr-on-qtr change: 1.5%
Year-on-year change: 4.5%Change from trough: 28.2%
SligoAverage Price: €142,936Qtr-on-qtr change: 3.5%
Year-on-year change: 7.2%Change from trough: 36.0%
MayoAverage Price: €156,147Qtr-on-qtr change: 1.2%
Year-on-year change: 7.4%Change from trough: 40.3%
Galway CityAverage Price: €300,457Qtr-on-qtr change: 3.4%
Year-on-year change: 9.9%Change from trough: 87.1%
Galway CountyAverage Price: €201,542Qtr-on-qtr change: 1.9%
Year-on-year change: 4.0%Change from trough: 59.3%
Availability stableThere were 578 homes available to rent in Connacht and Ulster on February 1, down slightly (2.5%) on the 593 on the market a year ago.
Room costs rise 6%The average cost of a rented room in Connacht and Ulster rose by an average of 5.6% in the year to December 2019.
The Daft.ie Rental Price Report – 2019 Q4 | 25
DonegalAverage rent: €662
Qtr-on-qtr change: -1.4%Year-on-year change: 4.5%
Change from trough: 36.3%
SligoAverage rent: €772
Qtr-on-qtr change: -2.2%Year-on-year change: 3.2%
Change from trough: 48.5%
MayoAverage rent: €744
Qtr-on-qtr change: -2.5%Year-on-year change: 3.5%
Change from trough: 43.6%
Galway CityAverage rent: €1,309
Qtr-on-qtr change: 0.8%Year-on-year change: 5.6%
Change from trough: 98.9%
LeitrimAverage rent: €607Qtr-on-qtr change: -1.5%Year-on-year change: 4.0%Change from trough: 47.4%
MonaghanAverage rent: €806Qtr-on-qtr change: -2.8%Year-on-year change: 2.2%Change from trough: 60.4%
CavanAverage rent: €760Qtr-on-qtr change: -1.6%Year-on-year change: 3.7%Change from trough: 61.2%
RoscommonAverage rent: €719Qtr-on-qtr change: -2.0%Year-on-year change: 4.5%Change from trough: 45.8%
Galway CountyAverage rent: €934
Qtr-on-qtr change: -1.4%Year-on-year change: 5.3%Change from trough: 83.0%
SINGLE BEDROOM
€ 485
€ 425
€ 327
€ 306
16.0%
7.1%
2.4%
6.5%
AREAS AVG. RENT % CHANGE YoY
€ 544
€ 484
€ 359
€ 354
0.0%
0.0%
4.7%
8.3%
AVG. RENT % CHANGE YoY
Galway City Centre
Galway City Suburbs
Connacht
Ulster
DOUBLE BEDROOM
6%1 FEB578
Connacht/Ulster Trends Q4 2019
Average rental price by area, 2006-2019.
€400
€600
€800
€1,000
€1,200
€1,400
Galway City Connacht Ulster
Q42006
Q42007
Q42008
Q42009
Q42010
Q42011
Q42012
Q42013
Q42014
Q42015
Q42016
Q42017
Q42018
Q42019
1.9%
Rent-a-Room Trends Q4 2019
Over the last 15 years, Daft.ie has collected a vastamount of data on the Irish property market. In 2014 alone, over 140,000 properties for sale or rent were advertised on the site.
About the ReportThe goal of the Daft Report is to use this information to help all actors in the property market make informed decisions about buying and selling. In addition, because it is freely available, the Daft Report can help inform the media, the general public and policymakers about the latest developments in the property market.
This is the Daft.ie Rental Report, the partner to the Daft.ie Sale Report, which was issued last month. Together, they give house-hunters and investors more information to help them make their decisions. These twin reports mean that Daft is the only objective monitor of trends in both rental and sales markets on a quarterly basis, making the report anessential barometer for anyone with an interest in the Irish property market.
The Daft Report was first launched in 2005. It has become the definitive barometer of the Irish rental market and is being used by the Central Bank, mortgage institutions, financial analysts and the general public alike. The Daft.ie House Price report is Ireland’s longest-running house price report, combining information from the Daft.ie archives with data from Ireland’s Residential Property Price Register.
Methodology and Sample SizeThe statistics are based on properties advertised on Daft.ie for a given period. The regressions used are hedonic price regressions, accounting for all available and measurable attributes of properties, with a Cooks Distance filter for outliers.
The average annual sample size for lettings properties is 60,000. Indices are based on standard methods, holding the mix of characteristics constant, with the annual average of 2016 used as the base. For more on the methodology, please see www.daft.ie/research. About Daft.ieDaft.ie is Ireland’s largest property website. The latest audited report from ABC (Sep 2011) shows monthly traffic of 130 million page impressions (pages of information received) and 1.976 million unique users per month across Daft Media’s property websites (daft.ie, rent.ie, let.ie, property.ie). This makes Daft.ie the biggest property website in Ireland across all demographics.
DisclaimerThe Daft.ie Report is prepared from information that we believe is collated with care, but we do not make any statement as to its accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices, snapshots or analysis at any time for regulatory or other reasons. Persons seeking to place reliance on any information contained in this report for their own or third party commercial purposes do so at their own risk.
CreditsEconomic Analysis: Ronan LyonsMarketing and Communications: Raychel O’ConnellLayout and Design: Julian Czeryba
26 | The Daft.ie Rental Price Report – 2019 Q4
Coming next:
The Daft.ie House Price ReportQ1 2020.
The Daft.ie House Price Report will be published in late March and will include a review of the performance of Ireland’s sales market, plus all the usual indices, snapshots, trends and analysis, providing analysts, buyers, sellers and the public with the most up-to-date information on Ireland’s sales market.
All data is Copyright © Daft Media Limited. The information contained in this report may only be reproduced if the source is clearly credited. Please contact Daft.ie on 01-4218700 for further information.