the daft.ie rental report - minister for housing, planning and … · 2017-01-24 · daft.ie rental...
TRANSCRIPT
The Daft.ie Rental ReportAn analysis of recent trends in the Irish rental market
2016 Q3
Introduction by Ronan Lyons, Assistant Professor of Economics and Author of the Daft.ie Report.
The figures in this latest Daft.ie Rental Report make grim reading for most, including those renting and those in charge of Ireland’s housing system.
The average rent nationwide rose by almost 4% in
the third quarter, equalling the largest three-month
increase seen in the second quarter of the year.
Combined with other recent increases, it means
that the annual rate of rental inflation in Ireland
is now 11.7%, the highest recorded by the Daft.ie
Report since its series start in 2002.
For much of the past four-to-five years of rent
increases, the story has been about where has
been driving the national increase in rents.
Particularly in 2013 and 2014, it was Dublin that
was responsible for pulling up the national average
rate of rental inflation: in mid-2014, rents were
15% higher than a year previously. By late 2015, it
was outside Dublin – in particular the other urban
markets and the commuter counties around Dublin
– that were driving the national increases.
Now, however, there is little to choose between
Dublin and other markets. The rate of inflation in
Dublin rents has increase from 8.2% in late 2014
to 12.1% between July and September. Outside
Dublin, the average rate of inflation is 10.9% and is
only significantly below this in Connacht-Ulster. And
even there, Cavan is an exception. A more detailed
analysis points to the same conclusion: rents are
rising at double-digit rates in 37 of the 54 markets
analysed in the Daft.ie Report, up from just 17
markets as recently as late 2015.
This is having a disastrous effect on social cohesion
as well as on Irish competitiveness. The graph
accompanying this commentary shows the average
rent for a three-bedroom home in Dublin 8 over the
last ten years. The tail end of the Celtic Tiger can be
seen in the increase from below €1,450 per month
to almost €1,650 between mid-2006 and late 2007.
After that, though, rents fell to less than €1,050
in late 2010 and early 2011. They did not increase
much during 2011 and 2012 and by late 2012 were
still less than €1,150. Since then, however, average
rents for a three-bedroom home in Dublin 8 have
risen dramatically and now stand at €1,800 a
month, 10% higher than the previous Celtic Tiger
peak.
Crisisin the rental market worsens
The Daft.ie Rental Price Report – 2016 Q3 | 2
Ronan LyonsEconomist at Trinity College Dublin and authorof the Daft.ie Report.
Average rent for a 3-bedroom house in Dublin 8
Q32006
Q42007
Q12009
Q32011
Q12014
Q22015
€1,600
€1,400
€1,200
€1,000
€1,800
Q42012
Q32016
Q22010
This rise in living costs of almost three quarters, in
less than five years, is a symptom of strong demand
for housing – as economic recovery continues
and the population continues to grow. But there
is nothing inevitable about housing costs rising
with demand. That only happens when supply
fails to respond. And the complete absence of any
meaningful level of construction in Ireland over the
past five years is a systemic failure in desperate
need of policy solutions.
The shortage is particularly acute when it comes
to apartments in the Dublin area. Apartments are
a pressure point for demand, as they offer options
for downsizers, students and other one- and two-
person households. It is this size of households
that will form the bulk of new demand, Ireland
matches trends in other high-income countries, with
dwindling household size.
While there are perhaps political victories in
measures to help new families buying newly built
three- and four-bedroom houses, Ireland does not
lack this particular kind of property. Rather, Ireland
has lots of “non-families” in family homes. The best
way to bring around a reallocation of housing stock
in Ireland – consistent with political reality – is to
tempt these non-families out of family homes.
There are two challenges. The first is mindset,
particularly on the part of local authorities. Ireland
is not at all immune to NIMBYism and its excuses for
pushing development onto greenfield sites, rather than
in already built-up areas such as suburbs and market
towns. However, it is precisely the densification of our
suburbs and towns that Ireland needs.
Local authorities should be required to set targets
for particular types of property, including for
apartments blocks suitable for older households
and for purpose-built student accommodation if
relevant. Options for fining them for refusing to allow
necessary development should also be explored.
When it comes to housing supply, local authorities
have a dual mandate: they certainly have a role in
protecting the existing stock and amenities. But they,
more than any other stakeholder, have a duty to
ensure adequate supply of new homes.
The second challenge is construction costs, a topic I
have mentioned frequently in recent commentaries
to this report. Personally, I would very much like to
be able to state that this problem has been, or is on
the way to being, solved – if only to allow me to move
on to new topics for future commentaries.
However, the scale of the challenge here remains
depressing. It has never been viable to build
apartment blocks in the vast majority of this country.
Where it has been built, it has been due to subsidies
(in the case of social housing) or extraordinary
tax incentives (in the case of Section 23 disease).
There is no more urgent task facing the Minister for
Housing, his department and advisers, the Housing
Agency and others involved in ‘Rebuilding Ireland’
than understanding why the costs of building, and
building apartments in particular, is so dramatically
out of line with our own incomes and indeed with
the cost in other countries.
This latest report highlights that, without addressing
that, rents will continue to rise and further damage
Irish competitiveness and Irish social cohesion.
3 | The Daft.ie Rental Price Report – 2016 Q3
11.7%(Year-on-year change in the average asking rent)
Rents Rise Nationally
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
January 117.5 127.5 137.4 119.9 103.2 99.8 99.0 102.0 109.7 120.4 132.1
February 117.8 131.5 137.4 116.8 102.3 100.6 98.8 103.3 111.1 121.7 132.4
March 118.4 133.4 135.8 114.3 102.1 100.3 98.6 103.4 112.3 122.2 133.7
April 119.4 133.8 135.2 112.3 101.5 100.2 98.4 104.0 113.3 123.2 134.5
May 120.4 134.5 133.4 110.6 101.1 100.1 98.8 103.7 114.6 124.2 138.9
June 121.4 135.1 132.0 109.1 100.5 99.8 99.0 103.6 115.3 125.2 140.4
July 122.0 135.3 132.1 107.7 100.4 100.3 99.6 105.4 116.3 126.7 140.7
August 123.2 136.4 131.2 107.3 101.4 100.3 100.6 106.7 117.3 128.3 143.7
September 124.9 136.9 130.3 106.2 101.1 99.7 100.7 107.4 118.3 129.6 145.4
October 125.6 136.6 127.5 104.7 100.7 99.1 100.7 107.9 118.8 130.2 146.5
November 125.0 136.4 123.3 102.6 99.1 98.3 101.5 107.7 119.6 129.7
December 126.9 136.6 120.1 101.7 98.9 98.7 101.2 108.3 119.9 130.5
Daft.ie National Rental Index(2012 average = 100)
The Daft.ie Rental Price Report – 2016 Q3 | 4
€1,077
Average Nationwide
RentHighest rate of annual inflation on recordRents rose by an average of 11.7% between July and September, the biggest 12-month increase in the enire Daft.ie Report series, which extends back to 2002.
The Daft.ie Rental Price Report – 2016 Q3 | 65 | The Daft.ie Rental Price Report – 2016 Q3
Stock of properties to rent on Daft.ie (start of month) and flow of new properties to rent, 2006-2015
Stock Inflow Outflow
0
5000
10000
15000
20000
25000
0
5000
10000
15000
20000
25000
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Rise in Dublin and elsewhere similar in sizeIn both Dublin and in the rest of the country, the increase in rents between July and September was 3.9%, matching the largest quarterly increase on record.
Stock available to rent continues to fallThere were fewer than 3,700 homes to rent nationwide on October 1st, 12% fewer than on the same date a year previously.
The index is based on asking 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, or bedroom number.
Cork City
Limerick City
Galway City
Waterford City
NationwideAverage rent by region and Y-on-Y change
DublinAverage rent and Y-on-Y change
The Daft.ie Rental Price Report – 2016 Q3 | 87 | The Daft.ie Rental Price Report – 2016 Q3
Rents now 5% higher than their 2008 peakThe average rent nationwide has risen by 45% since
bottoming out in late 2011 and, having exceeded its 2008
peak earlier in 2016, is now 4.6% above the previous high. In
Dublin, rents are now an average of 9.3% above their previous
peak while in Cork and Galway cities, rents are 8% and 14%
above levels recorded eight years ago. Outside the cities, the
average rent is now just 1.8% below the previous peak.
North County€1,320 | 12.1%
North City€1,474 | 12.5%
City Centre€1,575 | 11.8%
South City€1,701 | 11.9%
South County€1,801 | 12.3%
West County€1,399 | 12.6%
C€778 12.5%
G€658 7.6%
L€680 7.7%
MH€1,016 15.8%
KE€1,078 13.4%
WW€1,108 10.6%
LH€913
15.2%
LD€546 14.7%
OY€692 10.5%
LS€723 13.6%
CW€736 8.3%
KK€770 11.9% WX
€668 9.0%
W€692 9.3%
KY€659 5.8%
CE€655 10.8%
T€668 6.2%
MO€588 5.1%
RN€573 7.3%
SO€613 6.3%
LM€504 7.4%
DL€561 6.8%
CN€600 12.3%
MN€634 9.2%
WH€727 13.2%
€962 | 10.9%
€862 | 13.2%
€1,087 | 14.4%
€735 | 11.2%
The Daft.ie Rental Price Report – 2016 Q3 | 109 | The Daft.ie Rental Price Report – 2016 Q3
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1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Dublin 1 €1,304 14.3% €1,580 13.3% €1,944 13.8% €2,415 14.2% €2,846 14.7%
Dublin 2 €1,532 9.1% €1,826 10.7% €2,185 10.4% €2,587 11.0% €3,249 4.3%
Dublin 3 €1,295 12.3% €1,516 12.7% €1,745 13.1% €2,023 13.2% €2,169 12.5%
Dublin 4 €1,657 11.9% €1,906 12.4% €2,200 10.3% €2,432 8.9% €2,618 12.5%
Dublin 5 €1,122 11.9% €1,309 14.8% €1,579 12.3% €1,718 13.3% €1,930 17.8%
Dublin 6 €1,414 9.1% €1,648 11.9% €1,989 9.5% €2,164 10.5% €2,431 14.9%
Dublin 6W €1,300 10.4% €1,516 13.3% €1,829 10.8% €1,990 11.8% €2,235 16.3%
Dublin 7 €1,206 11.0% €1,406 13.9% €1,696 11.4% €1,846 12.3% €2,074 16.8%
Dublin 8 €1,274 12.2% €1,485 15.1% €1,792 12.6% €1,950 13.6% €2,190 18.1%
Dublin 9 €1,151 11.1% €1,342 13.9% €1,619 11.4% €1,762 12.4% €1,979 16.9%
Dublin 10 €989 9.8% €1,153 12.6% €1,391 10.2% €1,514 11.2% €1,700 15.6%
Dublin 11 €1,077 11.6% €1,256 14.5% €1,515 12.0% €1,649 13.0% €1,852 17.5%
Dublin 12 €1,136 12.7% €1,324 15.6% €1,597 13.1% €1,739 14.1% €1,953 18.6%
Dublin 13 €1,147 11.9% €1,338 14.8% €1,614 12.3% €1,756 13.3% €1,973 17.8%
Dublin 14 €1,292 11.0% €1,506 13.8% €1,817 11.3% €1,978 12.3% €2,222 16.8%
Dublin 15 €1,040 11.3% €1,213 14.2% €1,463 11.7% €1,593 12.7% €1,789 17.2%
Dublin 16 €1,177 8.9% €1,373 11.7% €1,656 9.3% €1,802 10.2% €2,024 14.6%
Dublin 17 €975 -0.4% €1,136 2.1% €1,371 -0.1% €1,492 0.8% €1,676 4.8%
Dublin 18 €1,291 11.7% €1,505 14.6% €1,816 12.1% €1,977 13.1% €2,220 17.6%
Dublin 20 €1,108 9.5% €1,292 12.4% €1,558 9.9% €1,696 10.9% €1,905 15.3%
Dublin 22 €1,010 10.3% €1,177 13.1% €1,420 10.7% €1,546 11.6% €1,736 16.1%
Dublin 24 €1,043 11.5% €1,216 14.4% €1,467 11.9% €1,597 12.9% €1,794 17.4%
North Co Dublin €983 10.7% €1,146 13.5% €1,383 11.0% €1,505 12.0% €1,690 16.5%
South Co Dublin €1,359 10.9% €1,584 13.8% €1,911 11.3% €2,080 12.3% €2,337 16.8%
West Dublin €1,010 11.2% €1,177 14.1% €1,420 11.6% €1,545 12.6% €1,736 17.1%
Cork City €819 13.9% €940 17.2% €1,135 14.6% €1,235 15.6% €1,387 20.3%
Galway City €706 10.8% €811 14.0% €979 11.5% €1,065 12.5% €1,196 17.0%
Limerick City €630 13.1% €724 16.4% €874 13.9% €951 14.9% €1,068 19.5%
Waterford City €542 11.5% €622 14.7% €750 12.2% €817 13.2% €917 17.7%
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Meath €709 14.2% €826 15.9% €996 13.4% €1,084 14.4% €1,217 19.0%
Kildare €760 12.1% €885 13.8% €1,068 11.3% €1,163 12.3% €1,306 16.8%
Wicklow €794 9.3% €924 11.0% €1,115 8.5% €1,214 9.5% €1,363 13.9%
Louth €642 13.9% €748 15.6% €902 13.1% €982 14.1% €1,102 18.7%
Longford €390 13.3% €454 15.0% €547 12.5% €596 13.5% €669 18.0%
Offaly €480 9.2% €559 10.9% €675 8.4% €735 9.4% €825 13.8%
Westmeath €508 11.6% €591 13.3% €713 10.8% €776 11.8% €872 16.3%
Laois €504 12.6% €587 14.3% €708 11.8% €770 12.8% €865 17.3%
Carlow €503 7.4% €586 9.0% €707 6.7% €769 7.6% €864 11.9%
Kilkenny €531 11.2% €618 12.9% €745 10.4% €811 11.4% €911 15.9%
Wexford €466 7.9% €542 9.5% €654 7.2% €712 8.1% €800 12.4%
Waterford Co €464 8.7% €544 10.5% €657 8.1% €715 9.0% €803 13.4%
Kerry €441 4.9% €517 6.6% €624 4.2% €679 5.2% €762 9.4%
Cork Co €531 11.7% €623 13.4% €751 11.0% €818 11.9% €919 16.4%
Clare €443 9.5% €519 11.3% €626 8.9% €682 9.8% €766 14.2%
Limerick Co €447 6.7% €524 8.4% €632 6.0% €688 6.9% €773 11.2%
Tipperary €450 5.4% €528 7.1% €636 4.7% €693 5.7% €778 9.9%
Galway Co €475 7.0% €541 9.6% €652 7.2% €710 8.2% €797 12.5%
Mayo €427 4.7% €486 7.3% €587 5.0% €639 5.9% €717 10.1%
Roscommon €413 6.8% €470 9.4% €567 7.0% €617 8.0% €693 12.3%
Sligo €458 6.2% €521 8.9% €628 6.5% €684 7.4% €768 11.7%
Leitrim €384 5.5% €437 8.1% €527 5.7% €574 6.6% €644 10.9%
Donegal €413 7.1% €470 9.8% €567 7.4% €617 8.3% €693 12.6%
Cavan €434 11.2% €494 14.0% €596 11.5% €649 12.5% €729 16.9%
Monaghan €469 8.6% €534 11.3% €644 8.8% €701 9.8% €788 14.2%
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Daft.ie Snapshot of Rents NationwideWhat can I ask for? Can I afford it?
Average monthly rents across Ireland (€), and annual change (%), 2016 Q3
The Daft.ie Rental Price Report – 2016 Q3 | 1211 | The Daft.ie Rental Price Report – 2016 Q3
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1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Dublin 1 8.7% -0.3% 7.1% 0.0% 6.3% 0.1% 5.5% 0.2% 4.9% -0.4%
Dublin 2 7.7% 0.7% 6.7% 0.5% 5.6% 0.3% 4.6% 0.4% 4.8% -0.3%
Dublin 3 7.2% 0.2% 6.1% 0.3% 5.1% 0.4% 3.7% 0.3% 3.3% 0.3%
Dublin 4 6.7% 0.4% 5.5% 0.2% 4.3% 0.1% 2.9% 0.1% 2.5% 0.0%
Dublin 5 8.2% 0.9% 7.0% 0.5% 5.8% 0.4% 4.0% 0.4% 3.8% 0.7%
Dublin 6 6.2% 0.6% 5.3% 0.3% 4.4% 0.2% 3.0% 0.3% 2.9% 0.5%
Dublin 6W 6.9% 0.5% 5.8% 0.2% 4.8% 0.2% 3.4% 0.3% 3.2% 0.5%
Dublin 7 8.7% 0.9% 7.4% 0.4% 6.1% 0.4% 4.3% 0.4% 4.0% 0.7%
Dublin 8 8.9% 1.1% 7.6% 0.5% 6.3% 0.5% 4.4% 0.5% 4.1% 0.7%
Dublin 9 8.1% 0.6% 6.9% 0.2% 5.7% 0.2% 4.0% 0.3% 3.7% 0.5%
Dublin 10 11.2% 0.8% 9.5% 0.2% 7.9% 0.2% 5.5% 0.4% 5.2% 0.7%
Dublin 11 9.9% 0.4% 8.4% -0.1% 7.0% -0.0% 4.8% 0.2% 4.6% 0.5%
Dublin 12 9.4% 0.9% 8.0% 0.4% 6.6% 0.3% 4.6% 0.4% 4.4% 0.7%
Dublin 13 8.0% 0.8% 6.8% 0.4% 5.6% 0.3% 3.9% 0.4% 3.7% 0.6%
Dublin 14 7.1% 0.6% 6.1% 0.2% 5.0% 0.2% 3.5% 0.3% 3.3% 0.5%
Dublin 15 9.4% 0.9% 8.0% 0.4% 6.7% 0.3% 4.6% 0.4% 4.4% 0.7%
Dublin 16 7.5% 0.9% 6.4% 0.4% 5.3% 0.4% 3.7% 0.4% 3.5% 0.6%
Dublin 17 10.2% 0.1% 8.7% -0.3% 7.2% -0.3% 5.0% 0.1% 4.7% 0.4%
Dublin 18 7.3% 0.8% 6.2% 0.4% 5.1% 0.4% 3.5% 0.4% 3.4% 0.6%
Dublin 20 8.5% 0.4% 7.3% -0.0% 6.0% -0.0% 4.2% 0.2% 4.0% 0.5%
Dublin 22 11.1% 0.8% 9.4% 0.2% 7.8% 0.2% 5.4% 0.4% 5.1% 0.7%
Dublin 24 10.6% 0.8% 9.0% 0.2% 7.5% 0.2% 5.2% 0.4% 4.9% 0.7%
North Co Dublin 8.7% 0.7% 7.4% 0.2% 6.1% 0.2% 4.3% 0.3% 4.0% 0.6%
South Co Dublin 6.5% 0.8% 5.6% 0.4% 4.6% 0.4% 3.2% 0.4% 3.0% 0.6%
West Dublin 9.1% 0.9% 7.8% 0.4% 6.4% 0.4% 4.5% 0.4% 4.2% 0.7%
Cork City 9.8% 0.7% 8.3% -0.3% 6.2% 0.0% 4.0% 0.3% 3.8% 0.6%
Galway City 9.0% 0.1% 7.6% -0.7% 5.7% -0.3% 3.7% 0.0% 3.5% 0.4%
Limerick City 10.9% 0.4% 9.2% -0.7% 6.9% -0.3% 4.5% 0.1% 4.2% 0.6%
Waterford City 10.9% -0.0% 9.2% -1.1% 6.9% -0.5% 4.5% -0.0% 4.2% 0.4%
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Meath 9.8% 0.6% 8.6% -0.2% 7.2% 0.0% 4.1% 0.3% 4.3% 0.6%
Kildare 9.8% 0.5% 8.5% -0.3% 7.1% -0.0% 4.1% 0.2% 4.2% 0.6%
Wicklow 8.4% 0.7% 7.3% -0.1% 6.1% 0.1% 3.5% 0.3% 3.6% 0.6%
Louth 10.1% 0.4% 8.8% -0.5% 7.4% -0.1% 4.2% 0.2% 4.4% 0.6%
Longford 12.4% 1.0% 10.8% -0.1% 9.0% 0.2% 5.2% 0.4% 5.4% 0.9%
Offaly 9.8% 0.0% 8.5% -0.8% 7.2% -0.4% 4.1% 0.0% 4.2% 0.4%
Westmeath 9.7% 0.0% 8.4% -0.8% 7.1% -0.4% 4.1% 0.0% 4.2% 0.4%
Laois 10.2% 0.4% 8.9% -0.5% 7.5% -0.2% 4.3% 0.2% 4.4% 0.5%
Carlow 10.2% 0.1% 8.9% -0.7% 7.5% -0.4% 4.3% 0.1% 4.4% 0.4%
Kilkenny 8.9% 0.0% 7.8% -0.7% 6.5% -0.4% 3.7% 0.0% 3.9% 0.3%
Wexford 9.0% 0.2% 7.9% -0.6% 6.6% -0.3% 3.8% 0.1% 3.9% 0.4%
Waterford Co 8.5% 0.3% 7.8% 0.1% 6.3% 0.0% 3.6% 0.3% 3.6% 0.6%
Kerry 9.2% 0.0% 8.5% -0.2% 6.8% -0.2% 3.9% 0.2% 3.9% 0.5%
Cork Co 9.5% 0.3% 8.7% 0.1% 7.1% 0.0% 4.0% 0.4% 4.1% 0.6%
Clare 9.7% 0.6% 8.9% 0.3% 7.2% 0.2% 4.1% 0.4% 4.2% 0.7%
Limerick Co 10.5% 0.3% 9.7% 0.1% 7.8% -0.0% 4.5% 0.4% 4.5% 0.7%
Tipperary 10.2% 0.4% 9.4% 0.1% 7.6% 0.0% 4.3% 0.4% 4.4% 0.7%
Galway Co 10.8% 0.0% 9.7% -1.4% 8.0% -1.0% 4.4% -0.1% 4.4% 0.3%
Mayo 10.8% 0.3% 9.7% -1.2% 7.9% -0.9% 4.4% -0.0% 4.4% 0.4%
Roscommon 12.5% 0.2% 11.3% -1.4% 9.2% -1.1% 5.1% -0.0% 5.1% 0.4%
Sligo 12.0% 0.8% 10.8% -0.7% 8.9% -0.5% 4.9% 0.2% 4.9% 0.6%
Leitrim 11.2% -0.6% 10.1% -2.1% 8.3% -1.6% 4.6% -0.4% 4.6% 0.1%
Donegal 10.8% 0.4% 9.7% -1.0% 7.9% -0.7% 4.4% 0.1% 4.4% 0.5%
Cavan 11.5% 0.5% 10.4% -1.0% 8.5% -0.7% 4.7% 0.1% 4.7% 0.5%
Monaghan 11.3% 0.9% 10.2% -0.6% 8.3% -0.4% 4.6% 0.3% 4.6% 0.6%
Average 9.3% 0.5% 8.2% -0.2% 7.0% -0.1% 4.2% 0.2% 4.2% 0.5%
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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), 2016 Q3
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1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent
Dublin 1 €709 €894 €1,304 €1,057 €1,332 €1,580 €1,449 €1,826 €1,944 €2,081 €2,622 €2,415 €2,732 €3,443 €2,846
Dublin 2 €936 €1,180 €1,532 €1,279 €1,612 €1,826 €1,842 €2,321 €2,185 €2,677 €3,373 €2,587 €3,174 €4,000 €3,249
Dublin 3 €852 €1,073 €1,295 €1,183 €1,490 €1,516 €1,625 €2,048 €1,745 €2,592 €3,266 €2,023 €3,124 €3,936 €2,169
Dublin 4 €1,163 €1,466 €1,657 €1,642 €2,069 €1,906 €2,422 €3,052 €2,200 €3,912 €4,929 €2,432 €4,879 €6,148 €2,618
Dublin 5 €645 €813 €1,122 €884 €1,114 €1,309 €1,287 €1,621 €1,579 €2,019 €2,545 €1,718 €2,396 €3,019 €1,930
Dublin 6 €1,073 €1,352 €1,414 €1,470 €1,853 €1,648 €2,140 €2,697 €1,989 €3,359 €4,233 €2,164 €3,985 €5,021 €2,431
Dublin 6W €894 €1,126 €1,300 €1,225 €1,543 €1,516 €1,783 €2,246 €1,829 €2,798 €3,525 €1,990 €3,319 €4,182 €2,235
Dublin 7 €655 €825 €1,206 €897 €1,131 €1,406 €1,306 €1,646 €1,696 €2,050 €2,583 €1,846 €2,432 €3,064 €2,074
Dublin 8 €675 €851 €1,274 €925 €1,166 €1,485 €1,347 €1,697 €1,792 €2,114 €2,664 €1,950 €2,508 €3,160 €2,190
Dublin 9 €673 €848 €1,151 €922 €1,162 €1,342 €1,342 €1,691 €1,619 €2,106 €2,653 €1,762 €2,498 €3,148 €1,979
Dublin 10 €417 €525 €989 €571 €720 €1,153 €831 €1,048 €1,391 €1,305 €1,644 €1,514 €1,548 €1,950 €1,700
Dublin 11 €513 €647 €1,077 €704 €887 €1,256 €1,024 €1,291 €1,515 €1,607 €2,025 €1,649 €1,907 €2,403 €1,852
Dublin 12 €571 €719 €1,136 €782 €986 €1,324 €1,139 €1,435 €1,597 €1,787 €2,252 €1,739 €2,120 €2,672 €1,953
Dublin 13 €678 €855 €1,147 €930 €1,171 €1,338 €1,353 €1,705 €1,614 €2,124 €2,676 €1,756 €2,519 €3,175 €1,973
Dublin 14 €854 €1,077 €1,292 €1,171 €1,475 €1,506 €1,704 €2,148 €1,817 €2,675 €3,370 €1,978 €3,173 €3,999 €2,222
Dublin 15 €521 €656 €1,040 €714 €899 €1,213 €1,039 €1,309 €1,463 €1,630 €2,054 €1,593 €1,934 €2,437 €1,789
Dublin 16 €742 €935 €1,177 €1,017 €1,282 €1,373 €1,480 €1,865 €1,656 €2,323 €2,928 €1,802 €2,756 €3,473 €2,024
Dublin 17 €450 €567 €975 €616 €777 €1,136 €897 €1,131 €1,371 €1,408 €1,774 €1,492 €1,671 €2,105 €1,676
Dublin 18 €840 €1,059 €1,291 €1,151 €1,451 €1,505 €1,676 €2,112 €1,816 €2,630 €3,314 €1,977 €3,120 €3,932 €2,220
Dublin 20 €613 €772 €1,108 €840 €1,058 €1,292 €1,223 €1,541 €1,558 €1,919 €2,418 €1,696 €2,276 €2,869 €1,905
Dublin 22 €432 €544 €1,010 €591 €745 €1,177 €861 €1,085 €1,420 €1,351 €1,702 €1,546 €1,603 €2,020 €1,736
Dublin 24 €465 €585 €1,043 €637 €802 €1,216 €927 €1,168 €1,467 €1,454 €1,832 €1,597 €1,725 €2,174 €1,794
North Co Dublin €534 €673 €983 €731 €922 €1,146 €1,065 €1,341 €1,383 €1,671 €2,105 €1,505 €1,982 €2,498 €1,690
South Co Dublin €984 €1,240 €1,359 €1,348 €1,699 €1,584 €1,963 €2,473 €1,911 €3,080 €3,881 €2,080 €3,654 €4,605 €2,337
West Dublin €523 €659 €1,010 €717 €903 €1,177 €1,043 €1,314 €1,420 €1,637 €2,063 €1,545 €1,942 €2,447 €1,736
Cork City €396 €499 €819 €537 €677 €940 €862 €1,086 €1,135 €1,453 €1,831 €1,235 €1,745 €2,198 €1,387
Galway City €370 €467 €706 €503 €634 €811 €806 €1,016 €979 €1,360 €1,713 €1,065 €1,633 €2,057 €1,196
Limerick City €273 €344 €630 €371 €468 €724 €595 €750 €874 €1,003 €1,264 €951 €1,205 €1,518 €1,068
Waterford City €235 €296 €542 €319 €402 €622 €512 €645 €750 €863 €1,087 €817 €1,036 €1,306 €917
DU
BLIN
To buy or to rent?Using the Daft.ie House Price 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: 3.75% 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, 2016Q3
The Daft.ie Rental Price Report – 2016 Q3 | 1615 | The Daft.ie Rental Price Report – 2016 Q3
ULS
TER
1 bed apartment 2 bed house 3 bed house 4 bed house 5 bed house
Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent Mortgage Mortgage+2%
Rent
Meath €341 €430 €709 €456 €574 €826 €655 €825 €996 €1,243 €1,566 €1,084 €1,350 €1,701 €1,217
Kildare €368 €464 €760 €492 €620 €885 €707 €891 €1,068 €1,342 €1,691 €1,163 €1,457 €1,836 €1,306
Wicklow €449 €565 €794 €599 €755 €924 €861 €1,085 €1,115 €1,634 €2,059 €1,214 €1,775 €2,236 €1,363
Louth €300 €378 €642 €400 €504 €748 €575 €724 €902 €1,091 €1,375 €982 €1,185 €1,494 €1,102
Longford €149 €188 €390 €199 €251 €454 €286 €360 €547 €542 €684 €596 €589 €742 €669
Offaly €232 €293 €480 €310 €391 €559 €446 €561 €675 €846 €1,066 €735 €919 €1,158 €825
Westmeath €248 €312 €508 €331 €417 €591 €475 €599 €713 €902 €1,137 €776 €980 €1,235 €872
Laois €234 €295 €504 €312 €394 €587 €449 €565 €708 €852 €1,073 €770 €925 €1,166 €865
Carlow €232 €293 €503 €310 €391 €586 €446 €562 €707 €846 €1,067 €769 €919 €1,159 €864
Kilkenny €282 €355 €531 €376 €474 €618 €540 €681 €745 €1,025 €1,292 €811 €1,114 €1,404 €911
Wexford €244 €308 €466 €326 €411 €542 €469 €590 €654 €889 €1,121 €712 €966 €1,217 €800
Waterford Co €257 €324 €464 €328 €413 €544 €490 €618 €657 €932 €1,174 €715 €1,040 €1,310 €803
Kerry €226 €285 €441 €288 €363 €517 €431 €543 €624 €819 €1,032 €679 €914 €1,152 €762
Cork Co €264 €332 €531 €336 €424 €623 €503 €634 €751 €956 €1,205 €818 €1,067 €1,344 €919
Clare €215 €271 €443 €274 €346 €519 €410 €517 €626 €780 €983 €682 €871 €1,097 €766
Limerick Co €201 €253 €447 €256 €323 €524 €383 €483 €632 €728 €918 €688 €812 €1,024 €773
Tipperary €208 €262 €450 €265 €334 €528 €396 €499 €636 €753 €948 €693 €840 €1,058 €778
Galway Co €208 €262 €475 €263 €331 €541 €388 €488 €652 €756 €952 €710 €857 €1,080 €797
Mayo €188 €236 €427 €237 €299 €486 €349 €440 €587 €681 €858 €639 €772 €973 €717
Roscommon €156 €196 €413 €197 €248 €470 €290 €366 €567 €566 €713 €617 €641 €808 €693
Sligo €180 €227 €458 €227 €286 €521 €335 €422 €628 €653 €823 €684 €740 €933 €768
Leitrim €161 €203 €384 €204 €257 €437 €301 €379 €527 €586 €738 €574 €664 €837 €644
Donegal €181 €228 €413 €229 €288 €470 €337 €425 €567 €657 €828 €617 €745 €939 €693
Cavan €178 €224 €434 €225 €283 €494 €331 €417 €596 €646 €814 €649 €732 €922 €729
Monaghan €197 €248 €469 €248 €313 €534 €366 €461 €644 €714 €900 €701 €809 €1,020 €788
LEIN
STER
MU
NST
ERCO
NN
ACH
T
To buy or to rent?Using the Daft.ie House Price 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: 3.75% 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, 2016Q3
DublinDouble digit inflation in Dublin rents in year to September
North CityAverage rent: €1,310Qtr-on-qtr change: 3.0%Year-on-year change: 9.3%Change from trough: 40.6%
City CentreAverage rent: €1,408Qtr-on-qtr change: 3.0%Year-on-year change: 9.8%Change from trough: 43.5%
South CityAverage rent: €1,520Qtr-on-qtr change: 3.0%Year-on-year change: 7.9%Change from trough: 39.0%
North CountyAverage rent: €1,178
Qtr-on-qtr change: 3.4%Year-on-year change: 11.1%Change from trough: 37.0%
West CountyAverage rent: €1,243
Qtr-on-qtr change: 3.5%Year-on-year change: 10.6%Change from trough: 38.0%
South CountyAverage rent: €1,604
Qtr-on-qtr change: 2.4%Year-on-year change: 7.2%
Change from trough: 34.8%
Dublin trends Q3 2016
Dublin City Centre North Dublin City South Dublin City North County Dublin South County Dublin West County Dublin
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€1,800
€1,700
€1,600
€1,500
€1,400
€1,300
€1,200
€1,100
€1,000
€900
€800
Average rents by area 2006-2016
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The Daft.ie Rental Price Report – 2016 Q3 | 1817 | The Daft.ie Rental Price Report – 2016 Q3
Dublin 8 risesIn Dublin 8, the average rent has risen by two thirds since they bottomed out in late 2011 - across the city, the average increase is 57%.
1,400 homes availableThere were just over 1,400 Dublin homes available to rent on October 1st, over 200 fewer than on the same date a year earlier.
Room costs continue riseInflation in monthly room costs persists, with single- and double-rooms roughly 10% and 8% more expensive than a year ago.
10% above previous peakRents in Dublin now are almost 10% higher on average than their previous peak in early 2008.
Double BedRENTAL AREAS
Dublin City CentreNorth Dublin CitySouth Dublin CityNorth Co. DublinSouth Co. DublinWest Co. Dublin
AVG. RENT
€ 580€ 485€ 520€ 424€ 535€ 436
YR/YR CHANGE
10.7%10.0%11.1%
9.6%5.3%
16.6%
AVG. RENT
€ 709€ 576€ 652€ 527€ 623€ 540
YR/YR CHANGE
7.3% 9.3%7.6%8.7%7.4%
10.2%
Single Bed
Rent-a-Room Trends Q3 2016
North CityAverage rent: €1, 474Qtr-on-qtr: 3.9%Year-on-year: 12.5%Change from trough: 58.4%
City CentreAverage rent: €1,575Qtr-on-qtr: 4.6%Year-on-year: 11.8%Change from trough: 60.5%
South CityAverage rent: €1,701Qtr-on-qtr: 3.5%Year-on-year: 11.9%Change from trough: 56.8%
North CountyAverage rent: €1,320
Qtr-on-qtr: 3.8%Year-on-year: 12.1%
Change from trough: 53.8%
West CountyAverage rent: €1,399
Qtr-on-qtr: 3.5%Year-on-year: 12.6%
Change from trough: 55.4%
South CountyAverage rent: €1,801
Qtr-on-qtr: 3.8%Year-on-year: 12.3%
Change from trough: 55.4%
LeinsterStrong rise in rentsin all 11 markets
LouthAverage rent: €793Qtr-on-qtr change: 4.3%Year-on-year change: 13.3%Change from trough: 29.9%
MeathAverage rent: €878Qtr-on-qtr change: 4.4%Year-on-year change: 14.5%Change from trough: 35.9%
KildareAverage rent: €950Qtr-on-qtr change: 3.1%Year-on-year change: 11.3%Change from trough: 35.3%
WicklowAverage rent: €1,002Qtr-on-qtr change: 2.2%Year-on-year change: 8.1%Change from trough: 29.7%
WexfordAverage rent: €613Qtr-on-qtr change: 2.2%Year-on-year change: 5.3%Change from trough: 13.2%
LongfordAverage rent: €476
Qtr-on-qtr change: 3.5%Year-on-year change: 11.8%Change from trough: 18.0%
WestmeathAverage rent: €643
Qtr-on-qtr change: 3.5%Year-on-year change: 9.5%
Change from trough: 22.0%
OffalyAverage rent: €626
Qtr-on-qtr change: 3.6%Year-on-year change: 8.2%
Change from trough: 18.5%
LaoisAverage rent: €636
Qtr-on-qtr change: 3.3%Year-on-year change: 11.4%Change from trough: 26.3%
KilkennyAverage rent: €688
Qtr-on-qtr change: 2.8%Year-on-year change: 8.7%
Change from trough: 20.5%
CarlowAverage rent: €679
Qtr-on-qtr change: 2.3%Year-on-year change: 7.0%
From trough: 14.6%
Leinster trends Q3 2016
Dublin Commuter Counties West Leinster South-East Leinster
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€1,000
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€800
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€600
€500
€400
Average rents by area 2006-2016
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The Daft.ie Rental Price Report – 2016 Q3 | 2019 | The Daft.ie Rental Price Report – 2016 Q3
25% increase in WexfordRents in Wexford are Carlow are roughly one quarter higher now than at their lowest point - vs more than 50% higher in Kildare and Meath.
Fall in homes on the market Fewer than 750 homes were available to rent in Leinster on October 1st, down almost 150 on the same date a year earlier.
Room costs continue riseInflation in monthly room costs persists, with double-rooms between 8% and 14% more expensive than a year ago.
Rents up in all countiesIn all 11 counties in Leinster outside Dublin, rents rose in the third quarter - typically by 4%.
Double BedRENTAL AREAS
Dublin Commuter CountiesWest LeinsterSouth East Leinster
AVG. RENT
€ 373€ 255€ 326
YR/YR CHANGE
10.5%1.8%
12.3%
AVG. RENT
€ 438€ 307€ 357
YR/YR CHANGE
7.7% 5.9%
13.9%
Single Bed
Rent-a-Room Trends Q3 2016
LouthAverage rent: €913Qtr-on-qtr: 4.8%Year-on-year: 15.2%Change from trough: 49.6%
MeathAverage rent: €1,016Qtr-on-qtr: 4.6%Year-on-year: 15.8%Change from trough: 57.3%
KildareAverage rent: €1,078Qtr-on-qtr: 4.0%Year-on-year: 13.4%Change from trough: 53.5%
WicklowAverage rent: €1,108Qtr-on-qtr: 3.4%Year-on-year: 10.6%Change from trough: 43.5%
WexfordAverage rent: €668Qtr-on-qtr: 3.3%Year-on-year: 9.0%Change from trough: 23.4%
LongfordAverage rent: €546
Qtr-on-qtr: 4.7%Year-on-year: 14.7%
Change from trough: 35.3%
WestmeathAverage rent: €727
Qtr-on-qtr: 3.9%Year-on-year: 13.2%
Change from trough: 38.0%
OffalyAverage rent: €692
Qtr-on-qtr: 3.7%Year-on-year: 10.5%
Change from trough: 30.9%
LaoisAverage rent: €723
Qtr-on-qtr: 4.7%Year-on-year: 13.6%
Change from trough: 43.4%
KilkennyAverage rent: €770
Qtr-on-qtr: 4.7%Year-on-year: 11.9%
Change from trough: 34.8%
CarlowAverage rent: €736
Qtr-on-qtr: 3.2%Year-on-year: 8.3%
Change from trough: 24.1%
MunsterOn-going increasesin Munster rents
TipperaryAverage rent: €629Qtr-on-qtr change: 1.7%Year-on-year change: 6.0%Change from trough: 11.5%
Limerick CityAverage rent: €761Qtr-on-qtr change: 6.1%Year-on-year change: 11.4%Change from trough: 25.1%
Waterford CountyAverage rent: €633Qtr-on-qtr change: 1.5%Year-on-year change: 7.1%Change from trough: 11.2%
Waterford CityAverage rent: €661Qtr-on-qtr change: 5.2%Year-on-year change: 9.6%Change from trough: 17.8%
ClareAverage rent: €591
Qtr-on-qtr change: 2.7%Year-on-year change: 7.1%
Change from trough: 12.2%
Limerick CountyAverage rent: €631
Qtr-on-qtr change: 1.9%Year-on-year change: 6.7%
Change from trough: 12.0%
KerryAverage rent: €623
Qtr-on-qtr change: 0.9%Year-on-year change: 4.8%
Change from trough: 13.7%
Cork CountyAverage rent: €691
Qtr-on-qtr change: 2.7%Year-on-year change: 10.2%Change from trough: 18.6%
Cork CityAverage rent: €950
Qtr-on-qtr change: 6.9%Year-on-year change: 13.5%Change from trough: 33.1%
Munster trends Q3 2016
Cork City Limerick City Waterford City Rest-of-Munster
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€800
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€600
€500
€400
Average rents by area 2006-2016
The Daft.ie Rental Price Report – 2016 Q3 | 2221 | The Daft.ie Rental Price Report – 2016 Q3
Urban rents surpass 2008In Cork, rents are now 8% higher than their 2008 peak, while in Limerick they are 2% higher - in Waterford, they remain 6% lower.
Just 900 homes available Fewer than 900 homes were available to rent in Munster on October 1st, down almost 100 on the same date a year earlier.
Rise in rent-a-room costsIn most of Munster - outside central Limerick - rent a room costs are roughly 10% higher than a year ago.
Rents up 3% in three monthsRents rose by between 2% and 4% between July and October in each of Munster’s nine rental markets.
Double BedRENTAL AREAS
Cork City Centre Cork City Suburbs Cork Commuter Towns Limerick City Centre Limerick City Suburbs Waterford City Centre Rest of Munster
AVG. RENT
€ 384€ 357€ 342€ 295€ 292€ 290€ 269
YR/YR CHANGE
12.3%11.9%12.9%
1.4%12.7%12.8%15.9%
AVG. RENT
€ 461€ 435€ 401€ 331€ 333€ 293€ 304
YR/YR CHANGE
12.2%13.3%
6.9%4.7%
10.6%3.9%9.1%
Single Bed
Rent-a-Room Trends Q3 2016
TipperaryAverage rent: €668Qtr-on-qtr: 2.6%Year-on-year: 6.2%Change from trough: 18.4%
Limerick CityAverage rent: €862Qtr-on-qtr: 4.0%Year-on-year: 13.2%Change from trough: 41.7%
Waterford CountyAverage rent: €692Qtr-on-qtr: 3.4%Year-on-year: 9.3%Change from trough: 21.5%
Waterford CityAverage rent: €735Qtr-on-qtr: 3.2%Year-on-year: 13.2%Change from trough: 31.0%
Cork CityAverage rent: €1,087
Qtr-on-qtr: 3.5%Year-on-year: 14.4%
Change from trough: 52.2%
ClareAverage rent: €655
Qtr-on-qtr: 3.5%Year-on-year: 10.8%
Change from trough: 24.3%
Limerick CountyAverage rent: €680
Qtr-on-qtr: 2.3%Year-on-year: 7.7%
Change from trough: 20.7%
KerryAverage rent: €659
Qtr-on-qtr: 2.1%Year-on-year: 5.8%
Change from trough: 20.2%
Cork CountyAverage rent: €778
Qtr-on-qtr: 3.9%Year-on-year: 12.5%
Change from trough: 33.5%
Connacht/UlsterRents riseacross Connacht and Ulster
LeitrimAverage rent: €470Qtr-on-qtr change: 3.0%Year-on-year change: 8.2%Change from trough: 14.0%
MonaghanAverage rent: €580Qtr-on-qtr change: 3.1%Year-on-year change: 6.8%Change from trough: 12.3%
CavanAverage rent: €534Qtr-on-qtr change: 4.0%Year-on-year change: 10.0%Change from trough: 13.3%
RoscommonAverage rent: €534Qtr-on-qtr change: 2.3%Year-on-year change: 6.6%Change from trough: 8.3%
DonegalAverage rent: €525
Qtr-on-qtr change: 2.0%Year-on-year change: 6.0%Change from trough: 8.2%
SligoAverage rent: €576
Qtr-on-qtr change: 1.8%Year-on-year change: 6.7%
Change from trough: 10.8%
MayoAverage rent: €560
Qtr-on-qtr change: 1.9%Year-on-year change: 4.7%Change from trough: 8.0%
Galway CityAverage rent: €868
Qtr-on-qtr change: 6.0%Year-on-year change: 12.2%Change from trough: 31.8%
Galway CountyAverage rent: €611
Qtr-on-qtr change: 3.6%Year-on-year change: 10.8%Change from trough: 19.7%
Average rents by area 2006-2016
Connacht/Ulster trends Q3 2016
Galway City Connacht Ulster
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€1000
€950
€900
€850
€800
€750
€700
€650
€600
€550
€500
The Daft.ie Rental Price Report – 2016 Q3 | 2423 | The Daft.ie Rental Price Report – 2016 Q3
Galway rents well above 2008In Galway, rents are now 14% on average higher than their 2008 peak, a bigger increase than any market in Dublin.
Fewer than 650 homes on the marketThere were fewer than 650 homes available to rent in Connacht and Ulster on October 1st, down almost 100 on a year previously.
Room costs continue to riseThe monthly cost of a double room in Galway and in Ulster has risen by 10% in the last year, although elsewhere in Connacht it rose by just 4%.
Rents up 4% in three monthsRents rose by between 3% and 5% between July and October across Connacht and the three Ulster counties.
Double BedRENTAL AREAS
Galway City Centre Galway City Suburbs Rest of ConnachtUlster (ROI)
AVG. RENT
€ 383€ 357€ 259€ 252
YR/YR CHANGE
11.3%11.9%0.2%11.5%
AVG. RENT
€ 432€ 405€ 299€ 284
YR/YR CHANGE
8.5%11.9%
4.0%10.6%
Single Bed
Rent-a-Room Trends Q3 2016
DonegalAverage rent: €561
Qtr-on-qtr: 5.2%Year-on-year: 6.8%
Change from trough: 15.5%
SligoAverage rent: €613
Qtr-on-qtr: 4.3%Year-on-year: 6.3%
Change from trough: 17.9%
MayoAverage rent: €588
Qtr-on-qtr: 3.5%Year-on-year: 5.1%
Change from trough: 13.5%
Galway CityAverage rent: €962
Qtr-on-qtr: 3.2%Year-on-year: 10.9%
Change from trough: 46.2%
Galway CountyAverage rent: €658
Qtr-on-qtr: 4.2%Year-on-year: 7.6%
Change from trough: 28.9%
LeitrimAverage rent: €504Qtr-on-qtr: 2.9%Year-on-year: 7.4%Change from trough: 22.5%
MonaghanAverage rent: €634Qtr-on-qtr: 4.0%Year-on-year: 9.2%Change from trough: 22.7%
CavanAverage rent: €600Qtr-on-qtr: 34.5%Year-on-year: 12.3%Change from trough: 27.2%
RoscommonAverage rent: €573Qtr-on-qtr: 4.2%Year-on-year: 7.3%Change from trough: 16.2%
Over the last numberof years, Daft.ie hascollected a vast amount ofdata on the Irish propertymarket. Each year tens ofthousands of propertiesfor sale or rent areadvertised 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 House Price Report. 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 an essential
barometer for anyone with an interest in the Irish
property market.
The Daft Report was first launched in 2005. It has
already 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 monthly sample size for lettings
properties is over 10,000. Indices are based
on standard methods, holding the mix of
characteristics constant, with the annual average of
2012 used as the base.
About Daft.ie
Daft.ie is Ireland’s largest property website with
over 2.21 million unique users of the site generating
over 202 million page & screen views each month.
Disclaimer
The 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 Lyons
Marketing and Communications: Martin Clancy
Layout and Design:
Derek Jones, Dara Gannon & Sheila Rodgers
Coming next:
The Daft.ie House Price Report2016 in ReviewThe Daft.ie House Price Report will be published in January and will include a review of the performance of Ireland’s sales market throughout 2016, 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.
25 | The Daft.ie Rental Price Report – 2016 Q3