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New DAFT report - 'Still a renter's market'

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  • 25-05-2010 4:57pm
    #1
    SoupyNorman
    Registered Users Posts: 4,257 ✭✭✭


    DAFT Report

    Makes for some interesting reading, probably nothing starkly new but it’s nice to have independent research blast away the vested interest propaganda being spun by EA’s and EA affiliates.


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    #2
    ei.sdraob
    Closed Accounts Posts: 9,376 ✭✭✭ei.sdraob


    SoupyNorman wrote: »
    DAFT Report

    Makes for some interesting reading, probably nothing starkly new but it’s nice to have independent research blast away the vested interest propaganda being spun by EA’s and EA affiliates.

    dont daft have a vested interest in Rents since thats how their site started out :confused:


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    #3
    SoupyNorman
    Registered Users Posts: 4,257 ✭✭✭SoupyNorman


    ei.sdraob wrote: »
    dont daft have a vested interest in Rents since thats how their site started out :confused:

    Fair point but they are not in the business of selling their product at any cost, they do not try to talk the market up or down as the need dictates. They comment on the market with the figures and data they collect and from this report it would seem they are pretty spot on with the analysis. I would be in the category of renter/potential buyer described in the piece.

    Am I being naive?


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    #4
    billybigunz
    Closed Accounts Posts: 925 ✭✭✭billybigunz


    ei.sdraob wrote: »
    dont daft have a vested interest in Rents since thats how their site started out :confused:
    They have little vested interest as they do sales as well.


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    #5
    beeno67
    Registered Users Posts: 1,218 ✭✭✭beeno67


    SoupyNorman wrote: »
    DAFT Report

    Makes for some interesting reading, probably nothing starkly new but it’s nice to have independent research blast away the vested interest propaganda being spun by EA’s and EA affiliates.

    What propaganda? Doesn't the report show rents have more or less stopped falling and have risen slightly in Dublin in last 3 months? Seems like the report backs up the EAs. Last years falls are pretty irrelevant at this stage as they have already been reported.


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    #6
    oflahero
    Registered Users Posts: 765 ✭✭✭oflahero


    beeno67 wrote: »
    What propaganda? Doesn't the report show rents have more or less stopped falling and have risen slightly in Dublin in last 3 months? Seems like the report backs up the EAs. Last years falls are pretty irrelevant at this stage as they have already been reported.

    ASKING rents. ASKING. While the Daft report is as good as we're going to get in the absence of a national register, it can't help but only work with the data it's given. The dogs on the streets, sorry, the prospective renters on the street know that you're angling for 10% off the asking rent when you go view a place these days. The so-called 'rise' in DUblin could easily be explained by the corresponding rise in rental stock coming on the market over the last 3 months, initially overpriced before the new LLs figure out what the real market level roughly is.

    And yes, yes I know I'm more than happy to quote the Daft report in landlords' faces on the flipside when it mentions rent reductions...


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    #7
    MuffinsDa
    Registered Users Posts: 1,225 ✭✭✭MuffinsDa


    billybigunz wrote: »
    They have little vested interest as they do sales as well.

    I would assume that they make far more money from Rentals than Sales (even at normal times). Much higher turnover etc...


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    #8
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    oflahero wrote: »
    ASKING rents. ASKING. While the Daft report is as good as we're going to get in the absence of a national register, it can't help but only work with the data it's given.

    +1

    Another point. I can't see any reference to how long properties are advertised.
    I've seen properties listed since late 2009 still asking for the same rent.
    This is not stabilisation, this is an empty house.


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    #9
    billybigunz
    Closed Accounts Posts: 925 ✭✭✭billybigunz


    Then why would they want to talk the rental Market down. They would have landlords exiting the Market or negotiating with tenants rather than readvertise.


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    #10
    beeno67
    Registered Users Posts: 1,218 ✭✭✭beeno67


    oflahero wrote: »
    ASKING rents. ASKING. While the Daft report is as good as we're going to get in the absence of a national register, it can't help but only work with the data it's given. The dogs on the streets, sorry, the prospective renters on the street know that you're angling for 10% off the asking rent when you go view a place these days. The so-called 'rise' in DUblin could easily be explained by the corresponding rise in rental stock coming on the market over the last 3 months, initially overpriced before the new LLs figure out what the real market level roughly is.

    And yes, yes I know I'm more than happy to quote the Daft report in landlords' faces on the flipside when it mentions rent reductions...



    That is fine but my question is, how does it "Blast away the vested interests propaganda"? It will only "blast them away" if you assume it is wrong.


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    #11
    oflahero
    Registered Users Posts: 765 ✭✭✭oflahero


    beeno67 wrote: »
    That is fine but my question is, how does it "Blast away the vested interests propaganda"? It will only "blast them away" if you assume it is wrong.

    Agree with you that it doesn't 'blast them away' either. Its note of reluctant stoicism, however, is a welcome counterpoint to the tiresome shrieking of 'Bottom reached! Recovery just around the corner!' that issues without fail from every estate agent/property federation -based press release or 'report'.


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    #12
    SoupyNorman
    Registered Users Posts: 4,257 ✭✭✭SoupyNorman


    beeno67 wrote: »
    What propaganda?

    Ah come off it, every EA the length and breath of the country herald the 'bottoming out' on a daily basis.

    This is one of the few reports to focus on the falling rental prices, although rental prices never ballooned to the heights of purchase prices (comparativly speaking).


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    #13
    beeno67
    Registered Users Posts: 1,218 ✭✭✭beeno67


    SoupyNorman wrote: »
    Ah come off it, every EA the length and breath of the country herald the 'bottoming out' on a daily basis.

    This is one of the few reports to focus on the falling rental prices, although rental prices never ballooned to the heights of purchase prices (comparativly speaking).

    I asked what propaganda because the report does not address any propaganda. The report says rents are rising in Dublin and falling very slightly outside Dublin. It does not focus on falling prices. I fully accept oflaheros comment that the report may not be an accurate reflection of actual rents. However, as a report it backs EAs who say the market has stabilised or is rising a little. I am quite sure you will see EAs and others quoting this report to make their point. Landlords will use it as a reason to try and avoid rent reductions. To quote from the press release:

    "The stabilisation in rents is being driven by Dublin and Cork cities, where rents have largely been level since the start of the year. In Dublin city centre, rents actually rose 1.3% between January and March."

    EAs and other "vested interests" will quote this constantly.


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