Rent Prices are Crazy

D3PO

i was asking Snubblite based on his "friends" image ie rent control. I agree with all you said btw

TheBandicoot

Michael D Not Higgins wrote: »

It's possible. TheBandicoot, do you recall if they're all the same flat or just for flats in the same building?

Fairly sure it is the same flat in all of them, yes(and always uses the same pictures, but seems to have a few exterior shots used). It is always a 2-bed, 1-bath place.

I'm not sure why it seems to be advertised so often either!

gaius c

Michael D Not Higgins wrote: »

It's possible. TheBandicoot, do you recall if they're all the same flat or just for flats in the same building?

Look at the building and look at the different descriptions. Some are 1 single and 1 double. Others are 2 doubles.
http://www.rent.ie/houses-to-let/74-Lower-Leeson-Street-Dublin-2-Dublin-City-Centre/1481626/
It's almost certainly multiple flats in the one building. Being very cheeky recycling the same add over and over though.

Frank Lee Midere

quadrifoglio verde wrote: »

Me, god no. You don't solve the problem that is out there at the moment, high demand and low supply by restricting price.
If you restrict price, people won't invest in properties and neither will funds. It sends them running.
So if we've less people willing to find the supply, where is it going to come from? The government won't provide the supply.

It would also inherently unfair on this who work in dublin, could afford to rent in dublin, but can't rent in dublin because people who don't work, are taking the supply. Heartless yes, but is it fair on the person who works 40 hours a week to be punished so the person in receipt of allowances or not willing to pay more gets the supply? No it's not.

We already have a form of rent control. Price can only be increased once in a 12 month period (can it be decreased more than once??). The fairest form of rent control would be one that tracks rent inflation from month to month (as calculated from new rents) so everyone pays the same....although I can't see the left going for that, as it'd be too looney for them.
The idea that your rent can't increase or decrease in line with the market is stupid and dangerous path to go down. The customer never gets screwed when the market sets the rate, they always get screwed when there is price controls.

This isn't always true. In countries where rent increases with inflation then large corporations will get into housing. The odd thing about housing in the private sector is it's entirely a small timer market, Gombeens and no real professionalism.

My guess is that this is because there is no certainty in rent. Can go up or down. An upward only rent review linked to inflation is like a bond issue. 7% indexed linked p/a over 30 years.

Lux23

So I managed to get a paid job in the evenings to top up my jobbridge and have pulled together a deposit and first month's rent. And now there is nothing out there!!

I guess it is just a case of sitting tight until something comes up, I have just over two weeks to find somewhere. EEk

Michael D Not Higgins

Lux23 wrote: »

So I managed to get a paid job in the evenings to top up my jobbridge

Is this even allowed?

Lux23

Yep, as long as it doesn't interfere with the internship which it won't.

who_ru

Lux23 wrote: »

So I managed to get a paid job in the evenings to top up my jobbridge and have pulled together a deposit and first month's rent. And now there is nothing out there!!

I guess it is just a case of sitting tight until something comes up, I have just over two weeks to find somewhere. EEk

well done. good luck with finding a place. god knows it ain't easy.

Cuddlesworth

D3PO wrote: »

so you think rent control would be a good thing ?

No. It fails to address the real issue which is lack of supply. Placing disincentives on people hoarding available land, widening the LPT percentage along with a proper development plan for the suburbs and city center would be a far better use of government policy and time. But that would lead to lower and stable house prices and at this stage the politicians know what people want. Sky high prices all the time.

Grandpa Hassan

Cuddlesworth wrote: »

No. It fails to address the real issue which is lack of supply. Placing disincentives on people hoarding available land, widening the LPT percentage along with a proper development plan for the suburbs and city center would be a far better use of government policy and time. But that would lead to lower and stable house prices and at this stage the politicians know what people want. Sky high prices all the time.

The politicians know what the people who vote want. It is unfortunate that the demographics with the best turn out by far are pensioners and middle class professionals who comprise the greatest amount of owned homes. If the turnout from other, non property owning demographics was higher, then the situation might be different. But I don't see that changing any time soon

Michael D Not Higgins

Lux23 wrote: »

Yep, as long as it doesn't interfere with the internship which it won't.

But does that not affect getting your social welfare payment then? If you haven't told the Social about it, is it not welfare fraud?

Lux23

Michael D Not Higgins wrote: »

But does that not affect getting your social welfare payment then? If you haven't told the Social about it, is it not welfare fraud?

I have told them about it. Its perfectly fine.

Can casual claimants on the Live Register participate on JobBridge?
While on an internship interns can commence casual employment without affecting their entitlements provided that it is not with the host organisation (i.e. not with the same employer) and it does not interfere with their internship.

Although, hopefully temporary because it ain't fun working 50 hours a week to earn less than minimum wage.

The_Morrigan

Folks can you get back on topic please, this is not State Benefits.

Idbatterim

I am looking in Dundrum, there are a ton of 2 bed apartments there up for let. I have looked at a number of properties there over the past few weeks, some are still available and some have had the asking price dropped. Some of the properties have been up for weeks. Take a look at the 2 beds in dundrum view and Rockfield (x3) are all set at E1450. I wonder if things have been overhyped and I am now reluctant to jump quickly... I reckon they will be very reluctant to lower the headline price now that they have got the ball rolling on upward only rents, but I would say you could probably get something off the asking particularly if you are not dealing with a letting agency...

ec18

Idbatterim wrote: »

I am looking in Dundrum, there are a ton of 2 bed apartments there up for let. I have looked at a number of properties there over the past few weeks, some are still available and some have had the asking price dropped. Some of the properties have been up for weeks. Take a look at the 2 beds in dundrum view and Rockfield (x3) are all set at E1450. I wonder if things have been overhyped and I am now reluctant to jump quickly... I reckon they will be very reluctant to lower the headline price now that they have got the ball rolling on upward only rents, but I would say you could probably get something off the asking particularly if you are not dealing with a letting agency...

1450 for a two bed seems about right based on what i've seen on daft

emmabrighton

How is anyone supposed to pay rent of 1450pm and save for a deposit on a house?

That's the question I have been asking myself all day since my landlord popped in last night to inform me that rent would be going up.

I am going to be stuck renting for the rest of my life at this rate!!!!!

Idbatterim

How is anyone supposed to pay rent of 1450pm and save for a deposit on a house?

That's the question I have been asking myself all day since my landlord popped in last night to inform me that rent would be going up.

I am going to be stuck renting for the rest of my life at this rate!!!!!

this is the thing, where do you compromise? pay more rent and save if at all at a glacial rate for a deposit, compromise on the area you live in or on the quality of accommodation or simply go from a 2 bed to a 3 bed for example, where the cost per room will likely be lower...

pandoraj09

Dundrum View must be something else, given the prices to rent. When I was renting before, I saved a deposit for a house by renting a house and subletting...I put a tv and armchairs into the big bedrooms and rented them as to separated men...they worked all the hours God sent during the week to pay maintenance and spent the weekends with their kids so were hardly ever there...I sympathise with all of you looking for places to rent. The prices are crazy...

superman28

1450 a month is crazy,, especially when wages have been stagnant for the last 5 years.. It annoys me that in my appartment block half the units are empty as I am assuming they are owned by the bank and are not being released onto the market to drive up prices.. our rent has gone up 10% each year for the last 3 years,, this year we have to move out and find somewhere cheaper..

Annoyingly rich investors who bought dirt cheap tracker mortgage buy to let properties have been allowed pocket the high rent and not pay the mortgage on the property because there are no repossessions by the banks.. driving prices up further.. the whole market is a fix and a scam,,

NGC999888

Idbatterim wrote: »

this is the thing, where do you compromise? pay more rent and save if at all at a glacial rate for a deposit, compromise on the area you live in or on the quality of accommodation or simply go from a 2 bed to a 3 bed for example, where the cost per room will likely be lower...

Remember that if prices have fallen from the peak by 50% then they have to rise by 100% to match peak values again.
Its a long, long way before we are there again thank god.

We saved the deposit by renting a double room in a house share in a ****ty area for 5 years and saving like crazy.

When we finally did buy house prices were rising by huge amounts every year and we nearly didnt. It was like it is now, we were scared of what might happen and a lot of people were telling us "no, no dont buy now, are you mad. A big crash is coming, prices are going up too fast."

We closed our eyes and jumped in head first because it was either take the chance of being in negative equity or just get used to living in a house share forever.

So here we are now almost 16 years later having gone through the remains of a boom and a crash and now the start of another upswing, where we dont know where it will end. But we have been living in a house we wanted to live in for the last 16 years and will have the mortgage all paid off in another 2 or 3 years. It was a scary ride, but it worked out.

Those friends who were telling us not to buy, still havent bought and are always moaning that there is a crash coming and how they predicted the last one, while watching their rents have gone up all the time, and house share no longer being suitable for them after marriage and kids etc. And they are all in their 40s now so the mortgage clock is ticking too.

One of them did buy, in late 2005 i think it was, and then sold his house 2 years ago and still keeps telling everyone how he sees another crash coming. Hes lost more than anyone, but doesnt see it at all.

The only advice I could give anyone trying to decide whether to pull the trigger or not, is that if you are thinking houses are too expensive today, and look back to prices a year or two ago, would you think you would have bought at that price now. In another year or two will you be looking back at todays prices and thinking the same thing.

You just have to decide if you wait will you be better off, but if you didnt wait, and prices still crashed tomorrow will you be glad you bought now in another 15 or 20 years. Its a long game and scary things happen in between.

And the other thing is that many people are quite happy renting all their lives, but others let it get to them big time if they cant buy their own home and end up getting depressed. They shouldnt. Rent or buy, you still have a roof over your head.

Cuddlesworth

NGC999888 wrote: »

Remember that if prices have fallen from the peak by 50% then they have to rise by 100% to match peak values again.
Its a long, long way before we are there again thank god.

Ar you looking at the same market I am?

100% at the top, 50% in 2012. 20% per year increase in Dublin.

60% in 2013
72% in 2014
86.4% in 2015
103.68% in 2016.

So if the market keeps increasing at its current rate, by end of 2016 we will be back at 2006/7 levels. And they were such a nice place to be at.

Tar.Aldarion

Just looking at renting flats in germany, Fecking 100m^2 apartments for low prices., depressingly good value compared to here. Stop it rent, go down!

NGC999888

Cuddlesworth wrote: »

Ar you looking at the same market I am?

100% at the top, 50% in 2012. 20% per year increase in Dublin.

60% in 2013
72% in 2014
86.4% in 2015
103.68% in 2016.

So if the market keeps increasing at its current rate, by end of 2016 we will be back at 2006/7 levels. And they were such a nice place to be at.

Except thats pure speculation on your part.
Go back to your own predictions from 2 or 3 years ago that you posted here about what would happen.
How did you do? now that you can see what actually happened.

I like this one from you "the fact that 6 property's sold in 2010( a year of horrible sales in the middle of our largest recession), followed by 5 in 2011, 3 in 2012, none so far this year. That's not a functioning market its a dying one."

But it just illustrates that our predictions and our own analysis of the property market are worthless at the end of the day.

I personally think whats happening now is a bounce from the bottom and the rate of price increase will slow now.
We went from nobody at all wanting to buy a house remember. But thats just my GUESS and should not be taken as anything else.

People should do what they feel is right for them and not try to be predicting years in advance.

NGC999888

Tar.Aldarion wrote: »

Just looking at renting flats in germany, Fecking 100m^2 apartments for low prices., depressingly good value compared to here. Stop it rent, go down!

How long would it take me to get to work in Dublin 1 though.
I know of a house in Smithfield going for €50 PW in Dublin. Its in rag order though.

The owner inherited it and lives abroad and doesnt want the bother of doing it up and advertising it so he just spread the word that if anyone knows someone handy who wants to move in and keep the place ticking over for a year or two until he either sells or comes home that its theirs for €50PW. If its left empty it will just get worse.

I only heard about it today at work. I have a friend who would jump at it so have given him the guys number.

The Spider

NGC999888 wrote: »

Except thats pure speculation on your part.
Go back to your own predictions from 2 or 3 years ago that you posted here about what would happen.
How did you do? now that you can see what actually happened.

I like this one from you "the fact that 6 property's sold in 2010( a year of horrible sales in the middle of our largest recession), followed by 5 in 2011, 3 in 2012, none so far this year. That's not a functioning market its a dying one."

But it just illustrates that our predictions and our own analysis of the property market are worthless at the end of the day.

I personally think whats happening now is a bounce from the bottom and the rate of price increase will slow now.
We went from nobody at all wanting to buy a house remember. But thats just my GUESS and should not be taken as anything else.

People should do what they feel is right for them and not try to be predicting years in advance.

Couldn't have said it better myself, in fact I made the same point earlier, people would most definitely have bought two years ago if they knew prices would be where they are now.

Like you say it's a guessing game but that doesn't mean you shouldn't take some factors into account.

murphaph

Tar.Aldarion wrote: »

Just looking at renting flats in germany, Fecking 100m^2 apartments for low prices., depressingly good value compared to here. Stop it rent, go down!

Where though? Not in Munich or Stuttgart anyway! Germany is very regional. 20% unemployment in some places and effectively no unemployment in others.

Tar.Aldarion

Oh in a city under half a million population. 2 friends just got jobs there.

Cuddlesworth

NGC999888 wrote: »

Except thats pure speculation on your part.
Go back to your own predictions from 2 or 3 years ago that you posted here about what would happen.
How did you do? now that you can see what actually happened.

I like this one from you "the fact that 6 property's sold in 2010( a year of horrible sales in the middle of our largest recession), followed by 5 in 2011, 3 in 2012, none so far this year. That's not a functioning market its a dying one."

That was a year ago and my point had nothing to do with rising prices. My point at the time was that the volume of sales was a fraction of what is should be, indicating that our property market was not functional. It still isn't, hence the rising prices in the midst of economic troubles.

I haven't in the last couple of years been championing whether or not prices will go up or down. I have said that prices should remain static in line with inflation for the good of our country and economy. The current boom and bust cycle we are throwing ourselves as a country is not a good thing. People like Spider would argue that areas in demand will always demand a higher price. Well they did before 2000, they did in 2006 and they still do now. That doesn't justify 20% year on year increases.

The Spider on the other hand has done nothing but champion rising prices, regardless of their worth. When the prices drop, which is inevitable, he will still be here crying the song of what houses should be worth.

The Spider

Cuddlesworth wrote: »

That was a year ago and my point had nothing to do with rising prices. My point at the time was that the volume of sales was a fraction of what is should be, indicating that our property market was not functional. It still isn't, hence the rising prices in the midst of economic troubles.

I haven't in the last couple of years been championing whether or not prices will go up or down. I have said that prices should remain static in line with inflation for the good of our country and economy. The current boom and bust cycle we are throwing ourselves as a country is not a good thing. People like Spider would argue that areas in demand will always demand a higher price. Well they did before 2000, they did in 2006 and they still do now. That doesn't justify 20% year on year increases.

The Spider on the other hand has done nothing but champion rising prices, regardless of their worth. When the prices drop, which is inevitable, he will still be here crying the song of what houses should be worth.

And there you have it, you misunderstand me or my motivation, all I'm trying to do is get people to think about it and if they want to buy what they should take into account, make no mistake if prices did crash I wouldn't be anywhere crying any song, bought at the right time you see?

Anyway I like the way you dismiss your comments because they're a year old, is there a time frame on this? I'll stand by what I've said or admit where I've been wrong, trouble with your type is you keep trying to find some way to twist events so they'll match your agenda.

NGC999888

Cuddlesworth wrote: »

That was ww.boards.ie/vbulletin/showpost.php?p=85816538&postcount=715"a year ago and my point had nothing to do with rising prices. My point at the time was that the volume of sales was a fraction of what is should be, indicating that our property market was not functional. It still isn't, hence the rising prices in the midst of economic troubles.

I haven't in the last couple of years been championing whether or not prices will go up or down. I have said that prices should remain static in line with inflation for the good of our country and economy. The current boom and bust cycle we are throwing ourselves as a country is not a good thing. People like Spider would argue that areas in demand will always demand a higher price. Well they did before 2000, they did in 2006 and they still do now. That doesn't justify 20% year on year increases.

The Spider on the other hand has done nothing but champion rising prices, regardless of their worth. When the prices drop, which is inevitable, he will still be here crying the song of what houses should be worth.

To be fair it looks like hes called it right though, and the evidence is in the posts in many threads along with plenty of evidence of the same other people saying the sky is falling over and over and over. I'll tell you one thing. they will be right about a crash some day though. Such is the nature of cycles and stopped clocks.

Myself though, I havent a clue where property prices or the general economy will be in a year or 2, let alone 5 years.
I wouldnt dare try and predict it.